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Old 08-08-2013
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Default BoA questions regarding new accounts

I have a question about banking with BoA. When people say they have many accounts, do you mean like normal saving accounts. Because im going up there is a few days, and want to make sure what to tell them, and say. Thanks!
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Old 08-08-2013
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^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ ^

Just open a Basic Checking account, you will be fine,,
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Old 08-08-2013
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Bank of America is great for stealth.

Select a basic checking account.

You will be good to go.

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BOA is pretty chill from my experience. I run both checking and savings accounts with them for stealth. Like most banks in the U.S. usually the minimum balance to avoid fees is lower on Savings accounts than Checking.
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Old 08-08-2013
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Ok sounds good. I have like a checkings account, and a savings account with them, that is already set up for past accounts.. Would it be a good idea to close those accounts, and re-open them, or do you think BoA would take that as something "fishy" .. (Re-opening them for new account numbers)

Thanks!!!
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Old 08-08-2013
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I prefer to not open and close bank accounts.

Such actions would be seen as strange.

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Old 08-08-2013
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Ok, so would it just be like a slow process... like close the accounts, and wait like 3 months, and then open them again... or something like that? .. haha sorry for all the questions, just wondering... and if thats the case, what do you do about like all your Limited Accounts with money in them ( my learning process ) .. I know that you add a bank account. But you just open a whole bunch of them, and take the money out? Seems like i would be looked as strange as well.. haha
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You don't want to just open 20 accounts in one day with one bank, number one it could look suspicious , that is unless you sit down with a bank rep and explain you have several online business that your starting and need accounts for all. But again they have the right to close accounts and this has happened to other members so if all ur accounts are with BOA than if they close ur accounts for any reason your going to have to scramble around for other banks.

The key is to open accounts over time with different banks BOA is great but mix it up and use prepaid debit cards also. Between real banks and prepaid there's plenty of banks.

Maybe start with an echecking and regular savings account with BOA, which u can open easily online and get approval from minutes to hours, really quick , and if u already have banking with them you can access online banking already and ur accounts without eating for a debit card.

Good thing with the echecking account with BOA there is no fee as long as you do all your banking from an ATM , which works out great with using it for stealth accounts. As long as you do everything with the ATM and never use a teller no monthly fee. And when u open online you don't need to add funds right away if u don't want to, so very easy.

When makin stealth accounts I switch up from my real name variation to totally stealth name , this gives me more freedom when opening bank accounts.

Just take things slow, I have 7 accounts with BOA over about 8 months time, they are a great bank for stealth faster than any with deposits and the only one I come across that makes transfers on Saturday meaning if u withdrawl Thursday morning ur funds will be in ur account by Saturday at 330am, which was helpful to me in the beginning when cash flow was in need with all Paypal holds.
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Old 08-08-2013
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You can close accounts every 4-6 months but try to vary the activity - also look at different banks...Chase for example is another good bank to work with.

Dont do a lot of opening and closing since it can be looked at unfavourably
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Old 08-09-2013
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When setting up the account with your real bank do you do the confirm deposit or the other one! Thanks for all the again guys!
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Quote:
Originally Posted by makingmoney View Post
When setting up the account with your real bank do you do the confirm deposit or the other one! Thanks for all the again guys!
If you are setting up your Paypal account with your real bank and the names doesn't match, it is strongly advisable to use trial deposit instead of instant.
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Old 08-13-2013
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what is a trial deposit?
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Old 08-13-2013
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Think alexmarc means to do the verification with bank account via 2 deposit method and NOT the instant username/password method that sometimes comes on PP depending on the bank, makingmoney.
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Quote:
Originally Posted by makingmoney View Post
what is a trial deposit?
Just select a bank that will allow mismatch names.

Dont be confused by trial deposit

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Quote:
Originally Posted by alexmarc View Post
If you are setting up your Paypal account with your real bank and the names doesn't match, it is strongly advisable to use trial deposit instead of instant.
OP is considering using BoA

They have few issues with name mismatches.

The two deposits works as well as doing an instant verification,


Dont forget paypal has sometimes taken back those two deposits.

Keep things simple especially on a new paypal account.
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Quote:
Originally Posted by GreenBean™ View Post
Dont forget paypal has sometimes taken back those two deposits.
Good point - OP should not be surprised if this happens.
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Quote:
Originally Posted by makingmoney View Post
I have a question about banking with BoA. When people say they have many accounts, do you mean like normal saving accounts. Because im going up there is a few days, and want to make sure what to tell them, and say. Thanks!
Open your first account in person at any branch. After that ,you can open as many accounts as you want online, just two at a time. Open a checking and savings account together for each application. Checking OR savings works the same. In fact, paypal has no idea whether or not it's really a checking or savings.

You have to be careful with savings accounts though, you can only have 4 withdrawals per month per savings account or you'll get a nasty letter from the bank.
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Old 08-13-2013
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Quote:
Originally Posted by Furious George View Post
You have to be careful with savings accounts though, you can only have 4 withdrawals per month per savings account or you'll get a nasty letter from the bank.
Is this a BoA phenomenon? I have dealt with numerous banks and they LOVE to charge the withdrawal fee of $5.00 or $2.00 or so whenever you dip into your savings account.
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Old 08-13-2013
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ya you have to keep $300 I think that is the min... Here is the weird thing with my bank account. I used my savings account, and made sure I did everything right, and I cant find the 2 deposits anywhere, like they havent gone through and its been over 3 business days... weird
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Quote:
Originally Posted by makingmoney View Post
what is a trial deposit?
As rsot said, trial deposit is when you do the verification with bank account via 2 deposit method. That way you will receive to small amount in your bank account which you will need to enter on PP to verify your account.

Quote:
Originally Posted by GreenBean™ View Post
OP is considering using BoA

They have few issues with name mismatches.

The two deposits works as well as doing an instant verification,
I know BoA is a good alternative when it comes to mismatched names. However I didn't know you could still do the instant verification from Paypal to BoA even if the names are different. If that's the case then this bank is really special.
I would still feel skeptical if I was making an instant verification from Paypal through BoA or any bank if the names were different.
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Quote:
Originally Posted by makingmoney View Post
I used my savings account, and made sure I did everything right, and I cant find the 2 deposits anywhere, like they havent gone through and its been over 3 business days... weird
If you did everything right then the deposits will appear soon unless you made a mistake while entering the account number on Paypal. Meanwhile you might want to check the pending transactions on your bank account to see if they are not there. Also, sometimes Paypal do take the deposits back but it shouldn't be a prob.
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Old 08-13-2013
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no. Ive done many accounts, and this isnt the case. No mistakes were made. Its just weird that there not showing up. Thank you for the information though! Great Posting guys!
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