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Bank Accounts General discussions on bank accounts, withdrawing funds, virtual bank accounts (VBAs) and more.

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  #1  
Old 09-16-2017
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Default bank of america withdrawal questions

i have a new bank of america account and was thinking to withdraw to the account 500 bucks per week which comes out to $2,000 dollars a month.

would that be ok? or would bank of america eventually shut it down?
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  #2  
Old 09-16-2017
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Default Re: bank of america withdrawal questions

I used to work for the company. No they will not shut it down. Its what the account is meant for. As you continue to bank with them and fund the account, it will strengthen your relationship with them.
Banks are not Ebay Or Paypal
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Old 09-16-2017
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Default Re: bank of america withdrawal questions

I have several accounts with BoA. I withdraw roughly $1500 per month per account and have never had an issue. Been doing it for the last 6 years or so.
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Old 09-20-2017
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Default Re: bank of america withdrawal questions

good info....what about RBC Canada account? Is there any safe withdrawal amount that we should be aware of? trying to find the info so that they don't shut me off.....withdrawing from mismatched name paypal to real bank account. thanks in advance
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Old 10-08-2017
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Default Re: bank of america withdrawal questions

BofA works good for accepting funds from mismatching name PayPal's. Also never had problems with Wells Fargo or Citibank.

A few people have reported problems with Chase Bank however. They tend to be rather picky about 3rd party transactions and may cause you problems.
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Old 10-14-2017
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Default Re: bank of america withdrawal questions

Quote:
BofA works good for accepting funds from mismatching name PayPal's. Also never had problems with Wells Fargo or Citibank.

A few people have reported problems with Chase Bank however. They tend to be rather picky about 3rd party transactions and may cause you problems.
I don't know, but Chase working fine, mismatching names accepted without any problems.
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Old 10-14-2017
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Default Re: bank of america withdrawal questions

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Originally Posted by N@Kes View Post
I don't know, but Chase working fine, mismatching names accepted without any problems.
Maybe, but be careful with Chase. There were more than a few reports of them shutting down accounts due to mismatched names. I recall seeing a thread on this forum a few months ago from a guy claiming Chase froze over $12k of his money because it came in on a mismatched name.
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Old 11-01-2017
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Default Re: bank of america withdrawal questions

i just opened a business bank of america account because i wanted to start moving 5k total monthly into a business account mismatch names.......is that wise? i dont want to be moving in 4k-5k into a personal bank account because i have heard that they start probing the personal accounts more closely if you move into that number range thats why i switched to a business account now. is it ok to move 5k into a new business bank of america account monthly on the first month? or should i do like 2500 for the first 3 months until the account has aged?
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Old 11-03-2017
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Default Re: bank of america withdrawal questions

If the account is new, take it easy at least for the first few months, don't start moving in large amounts staight away under mismatched names, it might bring your account to the attention of the fraud dept. to find out what's going on.

Also it's a good practice to leave some funds on deposit in your bank at all times. Again, taking it in then w/d all right off the bat looks suspicious if done frequently.
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Old 11-08-2017
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Default Re: bank of america withdrawal questions

do you happen to have a safe number that is good to start for the first few months? i was thinking 2500 a month small increments weekly about 600 per week.......
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Old 11-08-2017
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Default Re: bank of america withdrawal questions

i used my BoA account to withdraw and deposit initially - i started about 100 every 2-3 days then ramped up to 100 every day then more so after each month. This was from a mix of PP and mobile deposits - no ebay involved though, just fyi
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Old 11-08-2017
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Default Re: bank of america withdrawal questions

i thought business accounts dont really look suspicious with mismatched names......? i guess after the probationary period, they probably should not look suspicious?
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Default Re: bank of america withdrawal questions

A business account is less prone to review on 3rd party transactions because there more leeway for higher volume and varied types of deposits such as incoming wires/ACH deposits. Most of the big banks could care less assuming you are not doing something outright stupid like overdrawing your account frequently, etc.
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Old 11-10-2017
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Default Re: bank of america withdrawal questions

rsot would not have problems overdrawing his BoA.

The hamsters are not expensive to feed.




Must just add this thread for everyone’s information

https://www.aspkin.com/forums/paypal...desposits.html

Last edited by GreenBean; 11-10-2017 at 09:05 AM.
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Old 11-10-2017
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Default Re: bank of america withdrawal questions

Quote:
Originally Posted by nickopedia View Post
A business account is less prone to review on 3rd party transactions because there more leeway for higher volume and varied types of deposits such as incoming wires/ACH deposits. Most of the big banks could care less assuming you are not doing something outright stupid like overdrawing your account frequently, etc.
Also keep in mind that banks make a LOT of money from business accounts because fees are ridiculous...fees to deposit, fees to withdraw...fees just to keep money in the account...so it's not for everyone
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Old 11-10-2017
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Default Re: bank of america withdrawal questions

Quote:
Originally Posted by GreenBean View Post
rsot would not have problems overdrawing his BoA.

The hamsters are not expensive to feed.




Must just add this thread for everyone’s information

https://www.aspkin.com/forums/paypal...desposits.html
Bulding relationships with banks is important both for longetivity and opportunity

How's your little "hamster" by the way? That expense can be much higher than my own, true that hah
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  #17  
Old 12-06-2017
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Default Re: bank of america withdrawal questions

Quote:
Originally Posted by nickopedia View Post
A business account is less prone to review on 3rd party transactions because there more leeway for higher volume and varied types of deposits such as incoming wires/ACH deposits. Most of the big banks could care less assuming you are not doing something outright stupid like overdrawing your account frequently, etc.

something i dont understand is, why would the bank look at me suspiciously if i were to keep a low balance in the bank?

at the moment, i pretty much try to get my entire balance out of the bank all day everyday and i put it in other investments that grow at much stronger rates than the banks interest rates.

in my opinion anybody that has tons of money sitting in the bank is a fool, you should always be finding ways to put it in varying investments
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