Savings or Checking account for paypal stealth?

[qadaora4u]

I just want to first say, thank you so much to everyone here. Because of Aspkin and you all, I have been able to get back on Ebay.

I want to open a bank account for Paypal Stealth with Bank of America. My
question is which one is preferable, savings or checkings account? I already have a checking account with them, but I can't use it since I already used it with the paypal attached to my banned Ebay account. Thanks in advance.

[rsot]

Go for checking account - even though savings works well, the fees for withdrawing are higher.

Yes, don`t use any old account that you have used before.

[Packattack12]

Yeah Checking all the way. Most of the time you don't have to have a min balance and there's no limit to monthly transactions.

[qadaora4u]

Okay, I will go for checking. Thanks to you both.

[wendychen2000us]

Can you request BOA to give you a new account number if it has been used on limited Paypal account?

[corleone]

Originally Posted by qadaora4u

I just want to first say, thank you so much to everyone here. Because of Aspkin and you all, I have been able to get back on Ebay.

I want to open a bank account for Paypal Stealth with Bank of America. My
question is which one is preferable, savings or checkings account? I already have a checking account with them, but I can't use it since I already used it with the paypal attached to my banned Ebay account. Thanks in advance.

Doesn't matter, in fact with most banks, you can check mark the box for checking account when entering a savings account into paypal and the deposits will still be accepted.

I use mostly savings because most banks offer free savings with 300 or 500 minimum balances. I always keep the minimum's met and it never cost me a dime.

[wendychen2000us]

We can only get 1 check and 1 savings account with each bank, right?

Originally Posted by corleone

Doesn't matter, in fact with most banks, you can check mark the box for checking account when entering a savings account into paypal and the deposits will still be accepted.

I use mostly savings because most banks offer free savings with 300 or 500 minimum balances. I always keep the minimum's met and it never cost me a dime.

[MM78]

Originally Posted by wendychen2000us

We can only get 1 check and 1 savings account with each bank, right?

Nope....Most banks will let you open 3-5 accounts BUT what you have to consider is that whatever bank you go with may start to ask questions.

[corleone]

Originally Posted by wendychen2000us

We can only get 1 check and 1 savings account with each bank, right?

No, in fact it's common for people to have 1 checking and 2 savings on average.

Banks don't have limits. I've asked a few bank reps if there was a limit to the amount of accounts I can have, and they've told me I could have 100 accounts if I want. They don't care as long as you pay your fees and don't commit fraud.

If you have 20-30 accounts with a bank, all with mismatched varying names getting deposits, it may raise a red flag, so personally, I keep it under 10 accounts per bank, I've been doing this for a few years and haven't had a problem yet.