I have about 7 accounts in one bank and about 10 in the other one. Have been a regular BoA customer for 7 years and had HSBC for a couple years, never used it before the recent transfers though. I normally use EmigrantDirect, but 2 months ago started withdrawing directly to BoA and HSBC savings. I always withdraw in sub $1K chunks because Paypal doesn't like $1000+ withdrawals. So I suppose this could have triggered flags too. I normally would open a new savings and immediately start transferring about $1-2k a day in. After a couple of weeks, my Paypal account would normally get limited due to volume, and I move on to the next one and a new saving. So in total each bank received about $20K in the past 2 months. I always immediately transfer funds from savings to my checking account. And I guess serious banks dont like saving accounts to be used like this?
I kinda understand why HSBC may have flagged me. After hollidays and weekends, one of my accounts with them received over 10K in one day, all in $9xx chunks. I immedialy scheduled a transfer of the whole amount outside of the bank, into my BoA checking. Next morning HSBC froze the account. I've heard 10K is a magic number for banks, so maybe that's why their bots looked closer. But then in 3 days, Bank of America went down too? That totally doesn't make sense to me unless HSBC actually closed the account with a super negative mark in chex system or something. I received an email from them saying that I have 10 days to call, so the account is supposed to be still open.
Last edited by stepia2; 01-04-2013 at 09:10 AM.
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