Bank Accounts

[Ellis555]

When you guys open a new account on Amazon and get it up and running do you have to constantly be opening up new bank accounts with your new EIN? We keep opening up new bank accounts at different banks but feel there might be an easier way. We are USA based so any suggestions would be great

Thanks

[dennis82]

i suggest hyperwallet these are virtual bank accounts and they can forward to any bank in the world. These can be opened in the Amazon name, no ID req

[ajabahey33]

You can use virtual bank for receive money.

[MM78]

Originally Posted by ajabahey33

You can use virtual bank for receive money.

Like which one.....

[Jackra]

Suppose you have multiple seller accounts is there any way for you to get a multiple virtual accounts under one account so then you can just transfer to your main bank account. Like with credit cards companies now have where you can create multiple virtual credit card numbers so is there something similar when dealing with many selling accounts?

Thank You

[cobaogio7]

Originally Posted by dennis82

i suggest hyperwallet these are virtual bank accounts and they can forward to any bank in the world. These can be opened in the Amazon name, no ID req

it is a paypal's company, right? is this the one? hyperwallet .com ?

[prowake]

you can open a BOA account and add up to 5 digits before your real account number and all deposits will hit your bank and BOA won't care

so one single BOA account can handle something like 25,000 separate amazons/paypals

example: if your real account number is 8765678765, you can use 0876567876 through 999998765678765 and any combination in-between

youre welcome

[dennis82]

Originally Posted by cobaogio7

it is a paypal's company, right? is this the one? hyperwallet .com ?

it was recently bought by PayPal yes, but as i said, no ID req......

[SaiJin]

Originally Posted by prowake

you can open a BOA account and add up to 5 digits before your real account number and all deposits will hit your bank and BOA won't care

so one single BOA account can handle something like 25,000 separate amazons/paypals

example: if your real account number is 8765678765, you can use 0876567876 through 999998765678765 and any combination in-between

youre welcome

Interesting, so this wouldn't put the money into a different account or the bank rejecting the transfer due to invalid account number?

Sounds too good.

[ouako]

Originally Posted by SaiJin

Interesting, so this wouldn't put the money into a different account or the bank rejecting the transfer due to invalid account number?

Sounds too good.

I may call them and see if thats true. If so, its game-changing


EDIT : Bank Of America said it would change the account number and cause routing issues. Unless it is some new secret method

[bmk73]

Originally Posted by prowake

you can open a BOA account and add up to 5 digits before your real account number and all deposits will hit your bank and BOA won't care

so one single BOA account can handle something like 25,000 separate amazons/paypals

example: if your real account number is 8765678765, you can use 0876567876 through 999998765678765 and any combination in-between

youre welcome

can you elaborate on this, looks like BOA has a few diff choices for a biz account, and dont see anyting that says about changing #s

thanks

[prowake]

Originally Posted by ouako

I may call them and see if thats true. If so, its game-changing


EDIT : Bank Of America said it would change the account number and cause routing issues. Unless it is some new secret method

why the F would you call them?

[Beautiful]

Honestly you can get a bank account with any major bank and have a couple checking/savings for each bank

There are so many bank options you really shouldn't be running out of accounts you can use

Alternatively you can close accounts that you no longer use and open new account numbers

[cobaogio7]

Originally Posted by ouako

I may call them and see if thats true. If so, its game-changing


EDIT : Bank Of America said it would change the account number and cause routing issues. Unless it is some new secret method

just do a test withdraw from 2 different pp accounts and see if it's went through. the amount should be less than 5$ each.

[Jackra]

Originally Posted by prowake

you can open a BOA account and add up to 5 digits before your real account number and all deposits will hit your bank and BOA won't care

so one single BOA account can handle something like 25,000 separate amazons/paypals

example: if your real account number is 8765678765, you can use 0876567876 through 999998765678765 and any combination in-between

youre welcome

That honestly might work as I saw on some bank sites like USAA which say “I will tell you that if you were to place a zero in front of your account number it would absolutely not impact either a deposit coming in or a transaction going out. The only time a zero changes the account number would be if it was added to the end”

Going to try it on a stealth PayPal and see if it works. Thanks for the info!

[cobaogio7]

Originally Posted by Jackra

That honestly might work as I saw on some bank sites like USAA which say “I will tell you that if you were to place a zero in front of your account number it would absolutely not impact either a deposit coming in or a transaction going out. The only time a zero changes the account number would be if it was added to the end”

Going to try it on a stealth PayPal and see if it works. Thanks for the info!

please report back for the result , this might be a game changing big thing.

[leonMacy]

Is hyperwallet also a good solution?

[prowake]

Originally Posted by cobaogio7

please report back for the result , this might be a game changing big thing.

it is certainly game-changing and I accept donations

[ROWDYLANE]

How many bank accounts would be too many to set up at one bank?

[Beautiful]

Its normal to have a couple checking and a couple savings, per bank

Beyond that you would want some kind of business account for business reasons

Nothing wrong with having a business bank account with several sub accounts at several different banks

[garry9061]

Even if you were to be questioned as to why you have mutliple accounts, it can be quite easily justified.

[Beautiful]

Yep -- having several online storefronts and keeping things organized would be enough of a reason