Forum

Opening Bank Accounts?
 

I have been using US Bank and Bank of America for accounts to use with Paypal. I first did it with Bank of America. Then I used US Bank, since I already had an account with them. It was a lot easier doing it with a bank that I already have an account with. Then I opened another with Bank of America.

The problem is, it takes about a week to get the account set up, sign the papers, and then get the account number. Then I have to do the Paypal verification thing. I was thinking about setting up a couple Paypal accounts now and then using them for eBay when I need them.

Several people posted that Bank of America will let you create 10 accounts. After that, you get an error since you have opened too many. Since I have 2, that gives me 8 more to go. Can I open all 8 at once or would that look suspicious? What about with US Bank?

Would I be better off opening 1 or 2 accounts with 4 different banks?

I have opened all except for my first BOA account online. It's very easy, takes about 4 clicks, 3 minutes, and no papers to sign. The account number takes around 2 business days before it shows up.

There is no 10 account limit with BOA. I recommend you don't go over 10, I would aim for 5 or 6 at the most, to be safe. Yes it's better to split the accounts between a couple banks. No don't open them all at once. :typing: