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'Unlimited stealth accounts' = A Myth?
 

Hey guys,

I've been toying with the idea of opening up stealth eBay and Etsy accounts for a while, but finally decided to take the plunge.

I have a solid understanding of what is required for a new stealth account after reading the eBay stealth guide.
However, if I make a mistake and burn one, I don't see how I would have an 'endless supply' of bank accounts to use for the others? Perhaps this is just a UK specified issue.


Note;
- I'm from England
- My bank account is with Lloyds
- I've been banned on eBay for one bad review and on Etsy for a mislead copyright issue. I've tried Etsy stealth in the past, but was asked for ID before I could sell anything, so I'm now cautious about burning through my other bank accounts.

Re: 'Unlimited stealth accounts' = A Myth?
 

Not sure about in the UK, but in the US there are tons of different banks

and you can easily have 5+ accounts per bank (split between savings & checking)

Re: 'Unlimited stealth accounts' = A Myth?
 

Even if this case though, is it not worrying that you will only have 5 chances before having to shift elsewhere?

Re: 'Unlimited stealth accounts' = A Myth?
 

Goin with what 123 have said, 1 bank = 5 accounts for example. Then you move to the next bank and repeat the same.
Except you're neither in or from the UK, in that case, you shouldn't be trying for such a large slice of the pie. :lol:

Re: 'Unlimited stealth accounts' = A Myth?
 

There are 6,799 banks and 5,757 credit unions in the USA for us to choose from and 99% of them work for stealth accounts. 12,556 x 5 = 62,780 stealth account withdrawal options.

So to specifically answer your question here, no, it's really not worrying at all. Most financial institutions in the US will let you open as many checking/savings accounts as you want, because more open accounts looks better on their balance sheets. In the worst case, if a bank does get tired of your stealth activity and decides to close your account, that's not a big deal in the US. It doesn't negatively impact you in any way unless you leave the bank with a negative balance. We can simply walk out of the bank, walk to the next bank or CU on main street in any given US town, and start the process over again. My understanding is your credit score gets impacted in the UK if a bank closes your account - but that doesn't happen here.

Re: 'Unlimited stealth accounts' = A Myth?
 

Not really as you can simply close one saving account and open another.