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Old 08-13-2011
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Default Having multiple bank accounts?

Are there and consequences/drawbacks to having multiple bank accounts? I just need to know because I need to provide a SSN which is not mine but my father's(he will allow me to use it if there aren't any problems). Will this cause any to lens with his credit report or anything? I'm making multiple stealth accounts and need a place to withdraw cash.
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Just don't withdrawal in multiple names too often, it's a red flag. I've written a short guide on how to work around it, but only subscribers can see it.

Other things to take note is not to open and close an excessive amount of accounts at each bank every year. They will shut it down if you abuse it too much.

Other than that, Banks will love you if you play fair.
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Use your own SSN. Dont risk that of any other person. Your Dad is not making a good choice to let you have his SSN.

What exactly do you want to do?
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Well... I'm under 18(16) and cannot find a bank that let's me open a Checkings account online yet. I just need to withdraw money from multiple stealth accounts so I can actually spend the money lol. I'm not selling any high risk items on eBay or anything, so I doubt I will get limited on these accounts.
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Quote:
Originally Posted by xXxGUITARISTxXx View Post
Are there and consequences/drawbacks to having multiple bank accounts? I just need to know because I need to provide a SSN which is not mine but my father's(he will allow me to use it if there aren't any problems). Will this cause any to lens with his credit report or anything? I'm making multiple stealth accounts and need a place to withdraw cash.
You're fine. No draw backs with using multiple bank accounts. I would suggest however for you to name your stealth accounts variations of your dad's real name. But again, this all depends on the item you're pushing.
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Old 08-14-2011
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Hello, I'm from the USA. But my how do I use my paypal money in real life? Do I have to make a bank account for each one of my stealth accounts, and then transfer the money from the multiple bank accounts to my main bank account? Or is there a way to use funds from a liberty reserve account or anything else?
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Quote:
Originally Posted by xXxGUITARISTxXx View Post
Well... I'm under 18(16) and cannot find a bank that let's me open a Checkings account online yet. I just need to withdraw money from multiple stealth accounts so I can actually spend the money lol. I'm not selling any high risk items on eBay or anything, so I doubt I will get limited on these accounts.
If you use paypal, you could well get limited lol.
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lol maybe paypal isn't my best option:P hmmm... How about this?
Exchange multiple paypal $ into a single liberty reserve account, then withdraw $ from LR into my bank account? That way I can just use a single bank account under my fathers name, I don't think I want to wait 2 years to make multiple bank accounts under my name lol.
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