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Bank Of America Account Limit
 

I have two accounts open with them. Does anybody who uses BOA for stealth know how many is too many? Im thinking about opening two more.

you can safely open 2 more i personally have 5 and i didnt have any issues or anyone questioning on why i needed them

Is that a general rule of thumb with all banks or does it vary by bank etc

It varies by bank. However, it is not unreasonable to have 4 accounts. For example, business checking, business saving, personal checking, personal saving.

More important is to keep the amounts REASONABLE. The more money running through them, the more attention you will attract. The idea is to keep their reps from thinking that you are an International Drug Cartel.

Some banks also have problems with deposits coming in under different names. But BOA is not one of them.

I have a lot of stealth accounts. I just am amazed when someone tells me they have 40 plus accounts. How do they even get that many bank accounts period.

You can have lots and lots of accounts. A lot of banks encourage you to add as many as possible. If BoA online banking lets you just add them at will, then they do not care. If you ever get a call, and you probably won't, just say it is to keep your different revenue sources separate.

I have 4 with BOA and no issues but like stated be smart on how the money is coming through

No law says that you may only have accounts with ONE bank.

There are also the accounts attached to the prepaid cards, although some are giving people problems. Search the forums to see which of those still work.

I also recommend having accounts at different banks. That way, if a bank ever decides to drop your business, you still have other accounts operating and you only have to replace a few accounts at one time.

You can have as many bank accounts as you want in the US... Capitalism, baby! Just pay your taxes and you are fine. I have well over 10 accounts myself and I know many other people who have a lot more.

Same here, pay ur taxes ppl
However, obviously 25 checking accounts with one bank MIGHT look a little bad

Got about 25 total with a bank. 20 of these are business accounts opened in one day with the manager of the branch.

Bank by bank variation

Type of account variation

Some banks will also preclude a potential customer who is in the chex system(s).

The (stealth) customer needs to select carefully a suitable bank PLUS accounts.

With BoA you have a good range of possibilities to use their system.:typing:

I have 4 checking and 2 savings, I talked to a rep at BofA once and asked how many checking accounts I could have and he told me infinite. Of course it would look shady if you had 20+ accounts. I'd limit myself to 10 per bank.

If you're desperate for more checking accounts you can always go with another bank. Wells Fargo charges like 6 bucks a month for checking accounts and you can have a bunch of them. It's free if you keep a couple thousand in the account.

Actually if you pair the checking account up with a savings account and agree to have them transfer $25/month from the checking to the savings, the account is free. I have mine set up this way and then go online and set up a monthly auto transfer to move the $25 back to the checking!

Saves you $5/month/checking account. Plus their savings accounts work fine for stealth. :bounce:

How? Because they sat down and carefully planned their methods.

It's the ultimate in stealthing. Being selective in making use of the US banking system :bounce:

did the manager ask why you need so many?

You don't go into the bank and say, "hey, can you open 25 bank accounts for me?"

You open 1 set of accounts. Then in a week with you online banking, you open a new set of accounts. And then another.. And another.. Better to open as needed. Sometimes the bank will call to make sure it is not identity theft. Just let them know it is you and there are no problems.

There is nothing shady about having 20+ bank accounts at 1 bank. Only how you use them can be shady.

Not really, since these business accounts.

I have 5 with BOA. But the manager and everyone else that works at my location knows what I do..

EBANKING, REGULAR CHECKING, REGULAR SAVINGS, BUSINESS CHECKING AND BUSINESS CHECKING