Bank of America the ultimate stealth Bank?

Dmshark25 · #1 07-13-2013

I opened a BOA account (echecking) a few months ago and than a month later a regular savings account.

I found it literally took a minute to do so and than if I immediately logged onto the App the new account was instantly there with account and router numbers. So before they even sent the email saying you qualified and the account is open it showed up ready to use in the app.

I really didnt start to use them until maybe 3 weeks ago I had 2 accounts that I verified using a good prepaid account but if you do not send a certain amount with this bank they don't send the card so it's my own free VBA.

Then 2 months later I received a raise on one account so added the savings account. I was absolutely thrilled with the results. Now this is used for US accounts:

Great in accepting mismatch names

Out of the 30 accounts I have with 11 different banks this is the best( now I use mostly prepaid accounts and the othe real bank TD bank)
Today I was shocked to receive a Saturday deposit.

With every other account I have never once did I receive a Saturday deposit, now I know you can plan accordingly but for me it's a great help because I usually get more inventory on Saturday mornings.

The cutoff for at least the 11 diff banks I used was Wednesday at about between 9 and 10pm . If you make a withdrawl u usually receive deposits in the bank by Friday morning but not always at those times I found if initiated by 6 pm this worked for every bank and deposits would definitely arrive at Friday morning.

It was just a pain I have a part time job and work all day Wednesday so when I make them last withdrawals to have extra $$$ for the Weekend I don't get home until 10 sometimes 11pm this is the main problem for me and than my funds are in space from often Wednesday till Monday , long time.

After adding the savings I added the echecking to another account and little over 3 months I just recently went back on the BOA website to open another account this time it was a little different and offered me to open 2-12 echecking accounts so I opened 2 . Again logged into the app immediately and the accounts were there 24 hours before I got the email saying they were able to open the accounts for me.

I verified one instantly and the other with 2 deposits( the first 2 accounts I had the second two have yet to add them) and I initiated the deposits midnight and they were already in my account by 7am the next day , which for me is just crazy fast , with some banks it took over 5 days , but usually 2-3 was norm.

But it's amazing how well BOA works with Stealth accounts and I know it's good to diversify and also never open too many bank accounts 2 fast , but I have spoke with a rep told them I have various online business and they told me that's no problem I can open as many accounts as I need as long as I continue to be in good standing.

So now I have 4 over 4 months I'd like to get 10 accounts over a year and a half possibly.

Are there any other banks that work as well as this and make Saturday deposits, banks , credit unions or prepaid cards that anyone else would want to let me know?????
And if you do not want to share this I completely understand, I know BOA was discussed before and I was thrilled to get a deposit today after I initiated the withdrawl 1am early Thursday morning

vogeltron · #2 07-13-2013

Citi I believe is Similar to BOA for basically everything you described. Chase is also pretty good I think it is about the same amount of time for opening up bank accounts. The only bank I prefer to avoid is Wells Fargo. They ask too many questions for my liking consider the accounts are for stealth. I have also heard some good things about US Bank.

As most other senior members on here. I prefer to stay away from community banks and credit unions.

rsot · #3 07-13-2013

Not sure on Saturday deposits SPECIFICALLY but Chase, Suntrust, Harris bank are examples of banks that work wonderfully with stealth deposits

jeffweico · #4 07-13-2013

Chase is awesome too. With Chase, the first account must opened in person, I believe.

Regarding B of A, YES, they are great too. Just be careful not to do too much, too fast. Some people have had problems when trying to transfer too much money too quickly. In my experience, B of A does NOT look for mismatched names. But if their security department reviews your accounts, they won't like it and MAY cancel your accounts. Usually, that only happens when you start moving larger amounts of money quickly.

Also, I would caution anyone to not have TOO MANY accounts at any one bank! Think about it. If you have 10 accounts at one bank and they close the accounts, you will have to scramble to get 10 NEW accounts.

If you really DO want to use any bank for that many accounts, I would set up the PayPal or Amazon accounts as business accounts and use matching business names on the bank accounts. That will help to avoid any issues.

I would also try a local bank with one account and I would open it in person. I wouldn't go into details about stealth, but I would mention that I do business online and may need a couple more accounts. If you are friendly and they think you are an honest person, it REALLY HELPS to have that relationship if anything goes wrong. There are no guarantees, of course, but it is much better than having to call their general customer service number for help.

nyc · #5 07-13-2013

I love chase but if your in michigan extra credit union is AMAZZZZING

Dmshark25 · #6 07-13-2013

@jeff thanks for the advice , yea I spread out all my accounts as of now have no more than 4 accounts with one bank and I keep my sales at $1000 a month for each Paypal account to stay under the radar and usually make no more than $100 withdrawl at a time a couple times a week. My goal is to have over 100 accounts I'm at little over 30 stealths in 7 months all with banks and prepaid, I also just use name variations , makes everything easier

I find name variation and spreading out sales keeps you under the radar pretty well

GreenBean · #7 07-13-2013

Quote:

Originally Posted by nyc

I love chase but if your in michigan extra credit union is AMAZZZZING

Excellent.

How about adding this one to the below thread, please?

http://www.aspkin.com/forums/subscri...ave-tried.html

Explain if anyone can join this Credit Union etc.

Thank you for sharing.

mercurial333 · #8 07-13-2013

Quote:

Originally Posted by jeffweico

Chase is awesome too. With Chase, the first account must opened in person, I believe.

Regarding B of A, YES, they are great too. Just be careful not to do too much, too fast. Some people have had problems when trying to transfer too much money too quickly. In my experience, B of A does NOT look for mismatched names. But if their security department reviews your accounts, they won't like it and MAY cancel your accounts. Usually, that only happens when you start moving larger amounts of money quickly.

Also, I would caution anyone to not have TOO MANY accounts at any one bank! Think about it. If you have 10 accounts at one bank and they close the accounts, you will have to scramble to get 10 NEW accounts.

If you really DO want to use any bank for that many accounts, I would set up the PayPal or Amazon accounts as business accounts and use matching business names on the bank accounts. That will help to avoid any issues.

I would also try a local bank with one account and I would open it in person. I wouldn't go into details about stealth, but I would mention that I do business online and may need a couple more accounts. If you are friendly and they think you are an honest person, it REALLY HELPS to have that relationship if anything goes wrong. There are no guarantees, of course, but it is much better than having to call their general customer service number for help.

Jeffeico is very correct here.

Any bank, including Chase/BoA can close your accounts any time. They don't even need a reason.

Large amounts in and out is a good bet that it will undergo a manual review, but not necessarily.

Business accounts is recommended for those who deal with larger sums.

GreenBean · #9 07-13-2013

BoA you already know for trading times etc.

https://www.suntrust.com/FindUs

There is a search box where you can add Week End hours,. If you know your branch/zip code, then you can find if they are open for week ends.

https://www.chase.com/

Another search locator if you know your branch. Saturday banking times are until 3:30 -4:00pm depending on the branch.

My .02 cents.

mercurial333 · #10 07-13-2013

Also to note, with bigger banks, structuring is a bit less of a problem. This one of the minor pluses of banking with a big bank. Not always though.

Smaller banks will report you much quicker if they suspect you structure. Structuring gets you fine or prison. There's plenty of people burned by that, some not knowing about it, others didn't even try to structure yet they were charged with it.

rsot · #11 07-14-2013

Quote:

Originally Posted by nyc

I love chase but if your in michigan extra credit union is AMAZZZZING

So many options

local credit unions are known to be quite supportive to stealth endeavours...

GreenBean · #12 07-14-2013

Credit Unions can be restricted for joining purposes for some.

Topic is BoA

MM78 · #13 08-16-2013

U.S. Bank also great For mis-match deposits, currently 4 accounts with them.

grislybear · #14 08-17-2013

It's funny I just opened up 4 eChecking accounts with BOA last night and it was a breeze! Literally took 24 hrs to be approved and when I log in to my online banking all the accounts are there. Also I like the BOA online banking layout more so than Chase or Citibank. It just seems more modern and user-friendly.