[Banker101]

The OECD has just launched their Money Laundering Awareness Handbook for Tax Examiners and Tax Auditors. Among other indicators of money laundering for individuals, they include "A person owns assets located abroad, not declared in their tax return".

Curiously this example of their manual can explain why using a bank account for Paypal can raise a red flag and also why most US banks don't like it:



It seems that Paypal is inclined now to accept prepaid debit cards which work like a virtual bank account: https://www.paypal.com/worldwide

Has anybody had experience with using www.payoneer.com or www.virtualmoneyinc.com?

Any other providers of virtual bank accounts?

There is also www.accentbanking.com

[Banker101]

I am not sure which are available to non-residents. More links for those interested in doing research about issuing institutions:

http://www.bankfreedom.com
http://www.creditcards.com/prepaid.php
http://usa.visa.com/personal/cards/p...ble-online.jsp
http://www.mastercard.com/us/persona...d/issuers.html

[edollars]

If someone searching for a costly virtual US Bank stuff to use with their PayPal account, a TD Ameritrade account is the best flexible solution for the same.

[GanjaAL]

NOt sure on these banks... but I am in serious need of one that takes a business paypal account and allows me to convert to wmz????

any suggestions?

[Banker101]

There is also this service from www.xoom.com which makes payments to bank accounts from select countries. Select the country on the left up corner and you'll see the options. They accept funds from Paypal as well: https://www.xoom.com/sendmoneynow/money-transfer-fees The problem, of course, is that the unfortunate Paypal user will pay fees twice.

[OffshorePrivacy]

There is a difference between using a debit card which is allowed in certain countries and a bank account. Mainly this has to do with having much lower limits on debit card withdrawals. Virtual bank accounts never work for a long time with PayPal as it is a violation of their policies. They do not accept virtual bank accounts as a legal means of withdrawing your funds. Even when VMI changed their bank to a new one PP only worked for a few weeks, then it was cut off again.

Why is this? What happens is people sell these debit cards with attached us bank accounts to any and everyone. Scammers buy these cards to run scams with PayPal and eBay as well as to withdraw hacked funds from US bank accounts. After hundreds of complaints and disputes, PayPal blocks the bank account from their system.

You might find a card that works for 3-6 months, but there are no long term debit card/virtual bank account solutions for PayPal.

[Banker101]

Thanks for the clarification OP. I think that's one more reason why Paypal should operate their own bank and/or issue their own prepaid debit cards.

[user5910221]

Again I will try to ask on this thread:

Anybody using Accent Banking to withdraw funds from Amazon or Paypal?

Thanks

[chibunna90]

the info was good

[eurotraveler]

As mentioned before in detail
Capital One virtual bank accounts by Vcc2buy or any other seller will cause PP suspension in few days. PP Black listed!

Same with SunTrust, this could happen in few weeks and also sellers have pre-made PP accounts with these bank attached. Waste of time and money.