Opening too many bank accounts

[Maliquest]

Does opening 30 bank accounts over a year raise flags with IRS or any other agency?
Do banks report such activity if you open 10 accounts and close them and then open 10 more? Maybe not that exact number but you get the idea.

Even spreading them out amongst other banks, like chase b o a, citi bank, doesnt that put you under slight investigation?

[p4k1pr1nc3]

Not sure but sounds like someone would be monitoring that information.

[dealagreeproceed]

honestly why do this in the first place... if you have legit biz setup tho and alls on the up n up then should be A ok...

also definitely not the right category to post this but oh well

[Maliquest]

what category?

[rsot]

Can raise flags but do you need all of them open all the time?

[Maliquest]

No. I just need maybe 4 accounts plus my ACTUAL real life accounts which are about 3. I open them and then a few ebay accounts go down so I cant use those bank accounts anymore. I close them out and open new ones. I tell the bank that I feel my accounts have been hacked and I need to close them. Then I open a new one the following week.

[BiN4RY]

Originally Posted by Maliquest

I tell the bank that I feel my accounts have been hacked and I need to close them. Then I open a new one the following week.

That excuse can end badly for you if you use it repeatedly. Just simply say you no longer need the accounts and they'll close it for you.

PS: opening/closing too many accounts in short period of time can also end badly for you, so you should rethink your strategy.

[Maliquest]

Originally Posted by BiN4RY

That excuse can end badly for you if you use it repeatedly. Just simply say you no longer need the accounts and they'll close it for you.

PS: opening/closing too many accounts in short period of time can also end badly for you, so you should rethink your strategy.

What is a better strategy? Need them for Paypal. PM if you have a solution. Thanks