Silkroad Online Forums

I'm thinking of getting a debit/credit card for online payments etc, since depositing money on PayPal always takes 5-8 days extra.
Does anyone here have experience with Neteller or other debit card services?
I can't get one at my bank since i'd need an income of over 1200 a month for the students card [lol].

Basically, i'd like to get a cheap debit / credit card without additional fees on payments and deposits. Any advice?

Get your parents to co sign on a no fee credit card. When you add it to your PayPal, it wil use it as insurance that you have funds in your debit account. When you make purchases without any money in your PayPal, it will pay the amount and then withdraw from your normal bank account. If you have insufficient funds, it will charge the amount on the credit card.

Alternatively, you could use your parents' credit on your PayPal. It will still allow you to make instant purchases without needing to transfer money.

I also loled at the fact you need income before a bank will give you credit. Very inconsiderate.

You can't link your paypal to your bankaccount? Thats how I've been making my online payments for the past 6 years o.O It just directly takes it from my bankaccount, even if it's a different currency.

There is a difference between a debit card and a credit card. A credit card is when you "borrow" money from the bank and you pay it back each month, in this country (UK) you need to be 18 to have a credit card. Obviously need an income to be able to pay the money back.

A debit card is money that you earn, and goes into this account.

I use a Visa Debit card and have for quite some time. With my bank it's free, I get 10 free transactions per month (all online and credit transactions are free, I'm talking purely ATM type transactions) and I'm able to purchase stuff online using my own money. It's darn handy actually, even though I hardly use it. I recommend it over a credit card mainly because it takes out the "what if" factor. It has a $1000 per day limit and it's linked to an account which barely has too much money in it anyway, never over $1000, so if it does get stolen or lost the financial loss will be limited. Spending your own money feels a lot better than spending on credit, too, so it's pretty snazzy.

XMoshe wrote:You can't link your paypal to your bankaccount? Thats how I've been making my online payments for the past 6 years o.O It just directly takes it from my bankaccount, even if it's a different currency.

When making purchases online via paypal via your debit card, you first have to transfer funds from your debit card to your paypal fund; which takes about a week, or even more. It's very troublesome and it takes a lot of time.

There are reloadable prepaid credit cards out there; so those would be your best option.

CrimsonNuker wrote:

XMoshe wrote:You can't link your paypal to your bankaccount? Thats how I've been making my online payments for the past 6 years o.O It just directly takes it from my bankaccount, even if it's a different currency.

When making purchases online via paypal via your debit card, you first have to transfer funds from your debit card to your paypal fund; which takes about a week, or even more. It's very troublesome and it takes a lot of time.

There are reloadable prepaid credit cards out there; so those would be your best option.

Yeah I know that, that's why I asked if he can't link his bank account to paypal. Which turns out he had done all along so he's been wasting time since a loooong time xD

Don't have your parents co-sign. Don't drag them into your potential financial problems

Gaigemasta wrote:Don't have your parents co-sign. Don't drag them into your potential financial problems

Debit cards use your own money. Chances are if he needs his parents to co-sign than he won't have very much money in his bank to begin with. His "financial troubles" wouldn't be too grim at all.

Get a debit card and link it to an account that is used specifically for online purchases and has only a small amount of money in it ($200 or so, add in more if you specificity need it, such as buying a whole range of computer parts etc). Safe, secure and the potential losses are minimal.

As XMoshe said, i've never realized that i could pay through paypal even when i have no currency on it. So my problem of waiting with payments is pretty much solved now =].

I wouldn't drag my parents into any financial problems either, my liquidity/bank account is fine (for a student's standard), it was purely for the sake of being able to buy stuff directly. Thanks for the advice though.

My parents dragged me into their "financial problems" as soon as they could. The result was getting years ahead in building my credit score and benefitting from an ultra-low fixed mortgage rate.