All about banks.

[jamblix]

There used to be this huge thread about the best banks to use here. It looks like the thread got deleted or something. Anyways I have a few concerns that I never had to worry about till now.

I know there are a lot of banks that can be used with Paypal, but I'm not exactly sure how the process works in opening one online. I'm planning to open several accounts in the near future. I was thinking about Bank of America, HSBC, Suntrust, Wells Fargo and Chase. How long does it take from the moment you apply for a checking account online to the moment you're able to link it to a Paypal? Which banks let you open multiple checking accounts without trouble?

I've got all my stealth Paypal accounts open from very close people I know and I've made the stupid mistake of using their own unused checking accounts. I thought it was a brilliant idea at first because than I wouldn't need to open my own now this plan backfired hard. All the money I was depositing to a friends account was levied by the IRS because I suppose she owes the IRS for something or other. Now I've got this Paypal with money building up and nowhere to put it. I was wondering does Paypal raise red flags when you switch bank accounts from the one you signed up with? I'm worried because this bank account was under her name and I need to switch the accounts to one with my own name.

[lakeman]

Are you talking about the Means to an End List?

It takes 1-2 days, for the Bank of America account number, to show up online after you open the account.

[jamblix]

No not that one. I mentioned this in another thread, hard to believe nobody remembers it. There was a HUGE thread of good banks to use and it was constantly updated. It was a sticky if I remember right and it just poof vanished or I can't find it.

Anyways Wells Fargo is awesome, I had already opened a checking account with them. All I did was simply sign on apply for a new checking account and my card is already on it's way. Took about 5 minutes, but you'll need a $100 initial deposit though.

I found out some bad news though, this really sucks. Apparently someone has stolen my identity. When I applied for checking accounts at HSBC and Suntrust, during the verification stage it looks like someone used my SSN to open a mortgage in 2006 and an auto-loan in 2007. Spent about 6 hours on the phone with the FTC, SSA, and IRS. They are all so useless, I need a credit report before I can do anything so I gotta wait two weeks for it to come. Oh and get this I was also denied checking accounts from both HSBC and Suntrust because of Chexsystems, so I ordered a consumer report from them as well.

To be honest, it sucks, but I'm only 21 and never had any credit to my knowledge anyways. What I'm planning to do is get a new SSN after I provide them with information on the person who's using my number without permission. Get a fresh slate and maybe I can use that new SSN to open a legit Paypal :D

I'm getting my new bank account info in about 3 days and I'd really like to know if anyone has any info on the situation I posted in the OP. I was wondering does Paypal raise red flags when you switch bank accounts from the one you signed up with? I have about $700 sitting in my Paypal and nowhere to deposit it.

[rotty]

Same here....I was wondering does Paypal raise red flags when you switch bank accounts from the one you signed up with ?

[GreenBean]

I'm up there with the best of the tin-foil hat wearers about paypal getting spooked.

I have added different banks to accounts without problems.

Now please note I only ADD a new bank account. I do not delete the other account.

It means I need to be just that little bit more careful doing a transfer. But the use of more than one bank had never given me grief.

(my only grief is no money )

In conclusion, should not be a problem