numerous bank accounts

[Axcend]

So i've done some searching and reading on the forums, and from what i've gathered opening numerous accounts with different banks and closing them is very bad. But my question is, what if you just stick with multiple accounts with 1 bank. I think i read somewhere that someone had 20 bank accounts with 1 bank and it was no problem. Can anyone clarify and specify on this for me please? thank you

[123]

There are many legitimate reasons why a person would want multiple bank accts, so I mean you can open quite a few savings account with the same bank and it won't be found suspicious. No problem, but what you want to stay clear of is closing multiple banks from the same bank within a few months now that is suspicious.

[Axcend]

thats exact what I was thinking, with going with more savings accounts

[123]

Originally Posted by Axcend

thats exact what I was thinking, with going with more savings accounts

No problem, glad to help.

[jamblix]

Call up any bank and ask them what the limit is for checking and saving accounts. They will most likely say it's unlimited. You can open as many as you want, it's just more suspicious with the more you have. Anything below 10 is safe imo. There's plenty of banks to choose from, if you use 5 of those banks and have 10 accounts with each you're looking at 50 usable accounts. Far more than enough to make some good money, hell I would do well with only 20 accounts.

[jeffweico]

Originally Posted by jamblix

Call up any bank and ask them what the limit is for checking and saving accounts. They will most likely say it's unlimited. You can open as many as you want, it's just more suspicious with the more you have. Anything below 10 is safe imo. There's plenty of banks to choose from, if you use 5 of those banks and have 10 accounts with each you're looking at 50 usable accounts. Far more than enough to make some good money, hell I would do well with only 20 accounts.

That is correct. I have actually asked this question on at least three occasions, and I was typically told that I could have as many as I want.

But that is IN THEORY.

Remember, the representative you talk to about opening an account probably gets a commission on each account opened, or at least has a quota of new accounts each month.

That will NOT be the same person who investigates any potential fraud.

So the Customer service rep is doing their job, which is to generate new accounts. The fraud investigator is doing THEIR job too, which is to limit any potential risks for the bank.

[Axcend]

yeah but as long as you aren't commiting fraud. if i ever had to defend myself to the bank i'd explain exactly what I was doing and why I was doing it, because amazon hates people who make money. I mean as long as deposits aren't coming from the Amazon - Yemen/Iraq it should be fine imo. and yes 5 banks with 10 accounts was the exact number I had in mind lol

[mr888]

Its totally fine to have multiple checking/savings sub accounts under your main account, some banks allow more then others