Which bank accept mismatch name?

[denis767]

Why not to make 10-20 accounts in one bank?
I use BOA for 22 accounts with no problems. If account is down I close that one and open a new one if I need. Also use CapOne360.
Never had any problems

[nodeal]

Why not to make 10-20 accounts in one bank?
I use BOA for 22 accounts with no problems. If account is down I close that one and open a new one if I need. Also use CapOne360.
Never had any problems

Capone 360 has been reported for giving issues. Regular cap one accounts work better.

10-20 PERSONAL accounts is simply too many eggs in one basket. To have that many accounts exclusively receiving deposits under mismatched names is asking for trouble, and if it is working for you thus far, it certainly is not a long term strategy to model your business after. Closing down one bank and opening another every time your PayPal gets limited is only increasing that risk.

Having 10 BUSINESS bank accounts at one bank is more acceptable. Even with business bank accounts, I would say 20 is still pushing the limits.

If this bank suspects anything is awry, they will close ALL your accounts. Trust me, you don't think this will be a problem UNTIL IT IS, and then you wish you hadn't operated in this fashion.

SPREAD YOUR RISK across several banks.

[Jingling2017]

Originally Posted by nodeal

Capone 360 has been reported for giving issues. Regular cap one accounts work better.

10-20 PERSONAL accounts is simply too many eggs in one basket. To have that many accounts exclusively receiving deposits under mismatched names is asking for trouble, and if it is working for you thus far, it certainly is not a long term strategy to model your business after. Closing down one bank and opening another every time your PayPal gets limited is only increasing that risk.

Having 10 BUSINESS bank accounts at one bank is more acceptable. Even with business bank accounts, I would say 20 is still pushing the limits.

If this bank suspects anything is awry, they will close ALL your accounts. Trust me, you don't think this will be a problem UNTIL IT IS, and then you wish you hadn't operated in this fashion.

SPREAD YOUR RISK across several banks.

I endorse this behavior. Additionally, I have to think the DOLLARS you are pushing through each account will cause a red flag too. I read somewhere here a post that says anything over 1500 is scrutinized differently.....his friend worked at BOA he said.

[nickopedia]

Originally Posted by Jingling2017

I endorse this behavior. Additionally, I have to think the DOLLARS you are pushing through each account will cause a red flag too. I read somewhere here a post that says anything over 1500 is scrutinized differently.....his friend worked at BOA he said.

This is simple and prudent advise if running multiple stealths, don't put all your eggs in one basket and don't open too many accts at one bank. Also the frequency and amount of the third party (mismatching) deposits may cause issues if the bank deems it either in violation of their policies, risky, or someone takes a closer look (manual review).

The amount that will trigger a "red flag" would vary depending on the institution, and a few other factors, such as past problems or history.

BTW, Wells Fargo and BofA seem the most stable, even for mismatch deposits over 1000 US

An involuntary closure of a bank account can be reported to Chex as well depending on the reason. There are many banks to pick from that work fine; the best being the "big ones" that are well known. Online only banks and prepaid debit cards (i.e. Greedot/Metabank/NetSpend) are problematic or just don't work.

[Jigga]

I just wanted to update this as far as netspend goes as its the most recent mismatching name thread.

Ive got 3 different netspend accounts all in different family members real names and SS#. One is through bancorp bank, one metabank and one bofi federal. I tried until i got all 3 banks that netspend uses for their cards to try them all and it worked out.

Results Metabank- DOES NOT WORK, trying to link this bank itself flagged my paypal account and netspend. Dont use this.

Bancorp bank- accepted linking the account in paypal but upon first money transfer of $30 it denied, removed the bank from paypal and flagged the account.

bofi federal- This account worked and has been just fine as normal for over 1 year now without issue. I have withdrawn over 20k in the past year again no issue.

Just so that information is out there for anyone that searches. When you first sign up for netspend they assign you a bank from one of the three which you can see as soon as you sign up by clicking direct deposit. If you dont get the bank you want just dont activate the card when you get it and try again after 30 days. They dont ask SS# until you activate so you can do this until you get bofi like you want to get. Thanks

[jholl99]

Dont forget Metabank, (rushcard). I use them all the time.