In need of UK bank account that eBay accepts

[rolo007]

I am located in the USA but been selling on eBay UK for a while. When managed payments came I created an account with VertoFX and used their UK bank account which worked fine.
The issue is that on March of this year VertoFX provided us with a new bank account since they switched banks and it did not work with eBay. I tried Revolut but their bank account is not accepted by eBay either. I then found out UK banks and EMI's stopped taking non residents and eBay banned almost all banks and EMI's that still take non residents.

My eBay account has accumulated the funds from my sales and is asking me to add a new bank account.

I believe I could register with UK Companies House to get a business bank account but I would also need a UK residential address. I'm still hoping there are other options for me. Anybody's help would be much appreciated.

Thanks in advanced.

[murdered_by_ebay]

you should ask HSBC USA , they can easily open an account in the UK after doing ID checks in the US

[rolo007]

I will give them a try and provide and update. Thanks

[murdered_by_ebay]

you need a bank that has a banking licence in both USA and UK

the reason why UK banks don't take non residents is that they need a banking licence for the country of the non-resident which costs too much

[SaiJin]

WHEW, that was a good straight forward solution! Hope it works out, bud.

[gamedevinci]

Originally Posted by rolo007

I am located in the USA but been selling on eBay UK for a while. When managed payments came I created an account with VertoFX and used their UK bank account which worked fine.
The issue is that on March of this year VertoFX provided us with a new bank account since they switched banks and it did not work with eBay. I tried Revolut but their bank account is not accepted by eBay either. I then found out UK banks and EMI's stopped taking non residents and eBay banned almost all banks and EMI's that still take non residents.

My eBay account has accumulated the funds from my sales and is asking me to add a new bank account.

I believe I could register with UK Companies House to get a business bank account but I would also need a UK residential address. I'm still hoping there are other options for me. Anybody's help would be much appreciated.

Thanks in advanced.

Not here to judge. But am curious as to why you didn’t sell in USA since you’re based there. I’ve been dying to set up my eBay in America. The us is one of the best places to sell if not the best because of the wide market

[csproo]

Originally Posted by rolo007

I am located in the USA but been selling on eBay UK for a while. When managed payments came I created an account with VertoFX and used their UK bank account which worked fine.
The issue is that on March of this year VertoFX provided us with a new bank account since they switched banks and it did not work with eBay. I tried Revolut but their bank account is not accepted by eBay either. I then found out UK banks and EMI's stopped taking non residents and eBay banned almost all banks and EMI's that still take non residents.

My eBay account has accumulated the funds from my sales and is asking me to add a new bank account.

I believe I could register with UK Companies House to get a business bank account but I would also need a UK residential address. I'm still hoping there are other options for me. Anybody's help would be much appreciated.

Thanks in advanced.

Did you try Wise? It work with DE acount

[rolo007]

Originally Posted by murdered_by_ebay

you should ask HSBC USA , they can easily open an account in the UK after doing ID checks in the US

UPDATE:

I contacted HSBC USA and was told it was possible but I needed to first create an account and then apply for an international account in the UK. I opened the account and applied for the UK one and was told to wait some days for a representative to contact me to verify my documents. Will update once im contacted. Thanks again

[rolo007]

Originally Posted by gamedevinci

Not here to judge. But am curious as to why you didn’t sell in USA since you’re based there. I’ve been dying to set up my eBay in America. The us is one of the best places to sell if not the best because of the wide market

The products we supply are manufactured in the USA. eBay Prices in the US are low and there is a lot of competition. In the UK not much competition and we take advantage of the pound currency exchange which is currently $1.25 and used to be $1.60 back in the day. I guess it all depends on what you sell.

[rolo007]

Originally Posted by csproo

Did you try Wise? It work with DE acount

If opening an account with HSBC does not work I will give WISE a try.

Thank you for helping.

[e2free]

Originally Posted by rolo007

If opening an account with HSBC does not work I will give WISE a try.

Thank you for helping.

Wise does not work if you are uk resident but non it does

[rolo007]

Originally Posted by csproo

Did you try Wise? It work with DE acount

I have just opened a Wise account but unfortunately it did not work.

We do not support this bank. Please add a different bank account.{e168402-1224925x}

[rsot]

Originally Posted by rolo007

UPDATE:

I contacted HSBC USA and was told it was possible but I needed to first create an account and then apply for an international account in the UK. I opened the account and applied for the UK one and was told to wait some days for a representative to contact me to verify my documents. Will update once im contacted. Thanks again

No luck with this?

[rolo007]

Originally Posted by rsot

No luck with this?

Today I submitted all the documents requested. Once verified they will do a video call. It seems I will be able to open the account. Will update the outcome.

[murdered_by_ebay]

HSBC like foreign customers but they want to see active use from non-residents so the account should be actively used for incoming funds , payments and you should refrain from withdrawing cash

[gamedevinci]

Originally Posted by murdered_by_ebay

HSBC like foreign customers but they want to see active use from non-residents so the account should be actively used for incoming funds , payments and you should refrain from withdrawing cash

Should refrain from withdrawing cash. Then how do you get hold of funds physically

[murdered_by_ebay]

Originally Posted by gamedevinci

Should refrain from withdrawing cash. Then how do you get hold of funds physically

you probably know that large cash transactions are not common in the uk

[rsot]

Originally Posted by rolo007

Today I submitted all the documents requested. Once verified they will do a video call. It seems I will be able to open the account. Will update the outcome.

hoping for good outcome

[rolo007]

UPDATE:

I was able to open the account and eBay has accepted it. Thank you murdered_by_ebay for helping find a solution.

[rsot]

Originally Posted by rolo007

UPDATE:

I was able to open the account and eBay has accepted it. Thank you murdered_by_ebay for helping find a solution.

Congrats are in order

[agent006140]

Would this approach work for HSBC bank holders in other countries say HK,iNDIA?

[agent006140]

Originally Posted by murdered_by_ebay

you probably know that large cash transactions are not common in the uk

SO ARE YOU suggesting he withdraws small amount each time.