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Old 11-09-2010
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Default Suntrust bank problems...

I started using suntrust back in march or so and made my first account there. Over the course of then til about a month ago I opened up accounts steadily. I believe I currently have 9 accounts at Suntrust bank.(so i opened a little over 1 account a month.) My average account only has had about $700 in it. so it's not like I had an obscene amount of money in the bank or something.

However I recently tried to create a new account and it wouldn't let me. I went through the application process and everything and it gave me all the usual verification processes. At the end however it said error code 130. Has anyone ever got this?

I remember trying to sign up for suntrust bank in around early february this year and got the same message. Is it an error with the website? Did I open too many accounts or something? You would think they would have contacted me if there was actually a problem. Do you think paypal has contacted them? I have not received any information about anything. Its been around 10 days since I was able to open an account.

Could it be the equifax is messed up? It asked three questions and none of them were about me except for the last one. (I had to answer none of the above for the others).
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Old 11-09-2010
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I cannot answer your question, but I have always tried to limit my accounts at any one bank to 4. Any more than that may, IN MY OPINION ONLY, look suspicious. Most people just have a checking and savings account. Some others may also have a business account and/or a separate account for taxes. But to have NINE accounts?

I look at it as risk management. Anything could potentially happen to any given account and that could affect other accounts. Or a bank could change their policies at any time.

For example, what if SunTrust one day decided that it was NOT OK to have money coming in under a different name? If that happened, you would need 9 new accounts.

One recent post was from a member who claims that PayPal called his bank about one of his accounts and the bank closed all of them and sent him checks - each in the name of the person who had been receiving the money from PayPal. That could be a nightmare.

Just as we all know that it is best to spread out your risk by not relying on ONE eBay/Amazon/PayPal account, it is also smart to limit your risk in all other aspects of your business. There are plenty of banks out there, at least here in the US.
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Old 11-09-2010
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I hope people realize that every time a bank pulls your credit it puts an inquiry on your report and therefore hurts your FICO score and looks very suspicious of you later want to apply for credit for a credit card, car, home etc.

Any manual review by a future creditor will toss up a red flag if they see 9 inquiries from one single bank to open an account.

Be careful with banks that pull credit and hit your credit file with inquiries.

I also agree with the above, spread your accounts over different banks etc. if that is the way you want to go with it.
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Old 11-09-2010
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Normally, the first time a bank pulls your credit report, it is a "hard pull" meaning that their inquiry shows up on your credit report for 2 years.

However, when they are monitoring their customers, or just want to check that a current customer who wants an additional account has not "hit the skids" so to speak, it is a "soft pull".

Soft pulls are only visible to the CONSUMER. They are not shown to other creditors who pull the consumer's credit report.

I have opened a few bank accounts in the last year, many with banks that I already have an account with. While some checked my credit again and some did not, there were ZERO "hard pulls".
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I have suntrust bank and 6 bank accounts with them ALL prior to even being stealth or knowing anything about stealth....but I also NEVER opened an account online either. The people at the 3 branches here know me very well and I opened the bank accounts for reasons as such.....one for direct deposit from work check, another for Vacation money, another for ebay/paypal, another for Internet purchases, another for savings, and yes a shoe fund,lol! I am a SUPER organized person and it helps keep my finances together and keeps me from overspending. You have to handle banks just like any part of your business.....be personable in my opinion and once they know you then they will have no reason to be suspicious of you...IN MY OPINION....I am sure they have their own system that shows "high risk" when certain activity goes on.....
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Old 11-10-2010
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Having a relationship with people at the bank definitely helps. GreenBean is always saying this and she is right. If anything goes wrong, they are less likely to immediately think "fraud" and start closing accounts. When you are just online depositor #21458741, then the "fraud" thought is pretty much automatic.
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Old 11-11-2010
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Quote:
Originally Posted by jeffweico View Post
One recent post was from a member who claims that PayPal called his bank about one of his accounts and the bank closed all of them and sent him checks - each in the name of the person who had been receiving the money from PayPal. That could be a nightmare.
Ugh that made my stomach turn, this would suck terribly.

To the OP, I have no idea, but it's probably just a glitch, did you try to open it again today?
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