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Old 07-14-2017
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Default Which US bank can open multiple sub-account online?

Hi,
I finallly found a reliable person in the US who can open a bank account under his name and allow me to use.

I know someone in the forum have mentioned a bank that can open multiple (10 or around this) sub-accounts online with different account number. After one hour research, I still can't find it. Can anyone tell me?

I also know the credit card of BOA can generate several virtual card number so that you can use it as free VCC. Credit card from chase doesnt have this service. Any other bank that have this function?
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Old 07-14-2017
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Default Re: Which US bank can open multiple sub-account online?

You found a 'reliable' person who is going to open bank accounts to accept YOUR money?
Youre a very trusting individual. Or this whole setup sounds very fishy.
Pretty much every bank out there will allow opening sub accounts but open too many of them and the account will come under scrutiny.
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Default Re: Which US bank can open multiple sub-account online?

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Originally Posted by slokor View Post
You found a 'reliable' person who is going to open bank accounts to accept YOUR money?
Youre a very trusting individual. Or this whole setup sounds very fishy.
Pretty much every bank out there will allow opening sub accounts but open too many of them and the account will come under scrutiny.
It is my friend and I know him for 6 years, so he is trustable. I am currently putting BOA on my top list because it can provide free VCC. Do you know if it is possible to safely open like 5 sub-account with BOA? And I mean doing it all online?
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Default Re: Which US bank can open multiple sub-account online?

Yes its possible.
But mixing friends and business can lead to some real issues so you might want to consider that.
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Default Re: Which US bank can open multiple sub-account online?

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Originally Posted by nimade71 View Post
It is my friend and I know him for 6 years, so he is trustable. I am currently putting BOA on my top list because it can provide free VCC. Do you know if it is possible to safely open like 5 sub-account with BOA? And I mean doing it all online?
You can open many sub-accounts, but if Bank of America starts to see a lot of deposits your going to have issues.
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Originally Posted by slokor View Post
Yes its possible.
But mixing friends and business can lead to some real issues so you might want to consider that.
Thanks for your advice. I would transfer it to my bank in China once there are about $200-300. So it wouldn't be a big loss if bad thing happens
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You can open many sub-accounts, but if Bank of America starts to see a lot of deposits your going to have issues.
So your advice is to open account from multiple banks instead of multiple accounts under same bank?
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Default Re: Which US bank can open multiple sub-account online?

Quote:
Originally Posted by nimade71 View Post
So your advice is to open account from multiple banks instead of multiple accounts under same bank?
Correct, I would suggest no more than 3-4 accounts per bank. That's my opinion but I'm sure some will say more or less.
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Default Re: Which US bank can open multiple sub-account online?

I usually go with 5 myself - 1 checking and 4 savings.
But now youll have a new issue - now youre asking him to open accounts with multiple banks which can start attracting attention and having an impact on his credit score.
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Default Re: Which US bank can open multiple sub-account online?

Money and friends don't mix.

He's foolish for allowing you to expose him to all kinds of legal risk and possible damage to his credit.

You're foolish for letting him handle your money.

This is a BAD idea all the way around.
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Default Re: Which US bank can open multiple sub-account online?

I don't understand why you don't just fly to states for one week and get all these sort out by yourself? It's not a problem to open a bank if you walk into a bank and show them your passport, no need SSN.
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Default Re: Which US bank can open multiple sub-account online?

Quote:
Originally Posted by likefrasers View Post
I don't understand why you don't just fly to states for one week and get all these sort out by yourself? It's not a problem to open a bank if you walk into a bank and show them your passport, no need SSN.
It is all about time to get a visa, expensive ticket and long distance travel.
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