Question about opening bank accounts

[aicccia]

I just purchased and read the Ebay stealth guide and I have a question about setting up bank accounts.

According to the guide, each new paypal account needs to be linked to a new bank account. Are there are any legitimate reasons/excuses to have 2+ checking accounts at the same bank? If not, does this mean people with several stealth accounts are opening checking accounts are multiple banks? And then if an account gets suspended on ebay or paypal....they are then finding a new bank to open a new checking account at?

I just don't see how this sustainable. There are only so many banks out there.

[kenshintr]

Each bank allow you to open more than one account (business, personal etc) plus you also get checking and saving per account as well. This is the only way if you want to get your money out of Paypal, some people use the fund to buy stuff, make payment etc. I have 10 stealth accounts that are active and all of them are link to a new bank account number. I use Bank of America, Citibanks, US Bank and a few local credit union bank.

[pokerpro]

Sure...I have multiple accounts at multiple banks....I simply tell them, I need one bank

account for every paypal account...period, end of story. No more explanation needed. I have never had a bank get

"hinky" with me about this, but my self imposed limit is 6 per bank...that's just my deal anyway.

[kittyamnezia]

In the UK it's quite hard to get multiple bank accounts with different banks. However, you can blag one bank to give you multiple accounts

[rsot]

Originally Posted by pokerpro

Sure...I have multiple accounts at multiple banks....I simply tell them, I need one bank

account for every paypal account...period, end of story. No more explanation needed. I have never had a bank get

"hinky" with me about this, but my self imposed limit is 6 per bank...that's just my deal anyway.

No fee accounts?

[laur4852]

I don't know about other banks, but at my bank you can open as many checking accounts as you want. When I open a new one they never ask me why.. I don't really think they care since your giving them your money!!

Originally Posted by laur4852

I don't know about other banks, but at my bank you can open as many checking accounts as you want. When I open a new one they never ask me why.. I don't really think they care since your giving them your money!!

Don't abuse it, you don't want to raise any red flags with the chex systems.

Better to play it safe and use multiple banks

[rsot]

Many banking options exist - so go to different branches and inquire (space them out)