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Old 04-08-2014
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Default Business Banking and Sub Accounts (BOA + More ?)

Recently, I was thinking about opening a BOA Business Fundamentals Account for stealth use with my LLC. However, from what I've heard on this forum regarding VBAs, Bank of America no longer works with Paypal. Can someone confirm me on this? I was told by a BOA rep that I would be able to open various Checking / Savings under the same umbrella with online banking; not entirely sure if these are the same as BOA VBAs. Given that BOA was a preferred option on the forums for stealth users, you can imagine my disappointment in hearing that BOA "no longer worked" for anyone. BOA wasn't in my area, but their online banking probably would've saved me a lot of hassle and worked best for what I was looking for..

The banks I'll be contacting tomorrow for more information regarding their offers are U.S. Bank, SUNTRUST, USAA..

I currently bank with Chase for stealth and they've worked for me so far (they haven't really given me a hassle over anything yet). They're very friendly, but I feel somewhat a little limited by their options. I would rather have unlimited subaccounts, something similar to what BOA offered. Open and closing shouldn't really be too much of a hassle; I would just need to do it upon demand, especially since branches of these banks may not be in my area at all or easily accessible. BOA closed and moved out of my state years ago and I was clueless about them until recently..

If I am incorrect by assuming BOA no longer works for anything Paypal under this account preference, please let me know. By all means, if someone is not comfortable posting information publicly, they can PM me directly with an answer to this. However, I am currently looking for a solution and any help is appreciated. Thanks.
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Old 04-08-2014
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Default Re: Business Banking and Sub Accounts (BOA + More ?)

Who says BOA does not work for stealth? Last I checked (today) they work fine. Maybe the person is saying they can no longer create BOA VBAs but actual bank accounts are still working fine.
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Default Re: Business Banking and Sub Accounts (BOA + More ?)

From my understand on reading around this forum, BoA still works. I have a LCC under BoA.

If you are going towards USAA bank, be careful in not opening too many accounts or having accounts opened at once. USAA still works but they are border line anal in getting deposits in different names but they still work. And you need to be related to someone in the military, be in the military, or DoD to become a member.
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Old 04-10-2014
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Default Re: Business Banking and Sub Accounts (BOA + More ?)

Have not had a problem with BOA regarding stealth.
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Old 04-10-2014
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Default Re: Business Banking and Sub Accounts (BOA + More ?)

I have BoA for several US accounts - work great
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Old 04-10-2014
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Default Re: Business Banking and Sub Accounts (BOA + More ?)

Will do. Thanks for the tips guys! I'll be getting a BOA account soon..

I'm guessing the VBA must've been a prepaid debit card issuer or something of the sort which just burned out.
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Default Re: Business Banking and Sub Accounts (BOA + More ?)

BOA works great and very easy to open many accounts but don't open too many and only use them, spread your money over different banks

Last edited by GreenBean; 04-25-2014 at 11:54 PM.
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Old 04-25-2014
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Default Re: Business Banking and Sub Accounts (BOA + More ?)

Hi is there any updates on BoA? Are you able to open many sub-accounts online, and use them for mismatch names? Thank you
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Old 04-25-2014
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Default Re: Business Banking and Sub Accounts (BOA + More ?)

Bank of America works fine but TOO many sub accounts may cause the bank to look into your account(s) and maybe shut your accounts down. Recommendation dictates no more than 4-5 total accounts per bank.

Last edited by GreenBean; 04-25-2014 at 11:54 PM.
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Old 04-25-2014
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Default Re: Business Banking and Sub Accounts (BOA + More ?)

The way eBay is operating now adays, I'm sure people need WAY more accounts than just that. That's actually rather low.

Last edited by GreenBean; 04-25-2014 at 11:55 PM.
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Old 04-25-2014
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Default Re: Business Banking and Sub Accounts (BOA + More ?)

@PTXCDEXIA

people thinking outside the box can manage to have a sufficient number of bank accounts.

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