Want to open about 60 boa accounts. Any potential problems with this?

[Futuremogul888]

Originally Posted by Omgoozle

This is hands-down one of the dumbest questions I've ever seen on these boards.

You need to stop everything you're doing right now because you are horribly uninformed about a potentially dangerous situation. If you don't, please be sure to hit Enter on your keyboard to send us your last message before the FBI tazes you at your computer desk so we know exactly how it ended up for you.

To understand the situation you need to look at this from the banker's perspective. Excuse my realistic racism but if you are of any kind of ethnic group whatsoever, or if you are poor, or if you are a new customer to the bank and you try to pull this sh!t at a bank I'd be surprised if you make it back to your car without a new pair of metal bracelets.

You need to look into KYC banking laws. Look into the SEC rules and regulations that are the backbone of security in the banking industry.

I am surprised and a little disturbed at the passive voice you're hearing from other experienced members of this community but I have no problem telling you that you are treading a very thin line that you (a) obviously know nothing about and (b) don't want to be on.

-----------------------------

Go into a bank. Open a checking account. A few days or weeks later go back and open a few savings accounts. Be ready with a good reason why you need these. They will ask.

What a bunch of over-exaggerated nonsense.

It is not against the law to open that many accounts at one bank. As Joe mentioned there is no supporting facts to your rant. This is because (a) you don't know what you are talking about and (b) there are no facts to support your BS. If the Op goes to a bank and says he wants to open 60 accounts most likely the banker will just say no. No dragging out in handcuffs or a visit from homeland security or the FBI.

If you would have simply said this is not wise, I would have agreed with you. It would make a banker a bit nervous because it looks excessive and suspicious. It is more then likely against BOAs policy to open that many at a time per person.

While I would never recommend trying to open more then 5 bank accounts at a time. It is definitely possible to have several dozen accounts at a bank without raising an eyebrow. There are certain things you can do that will virtually eliminate risk of suspicion at the bank and will make having that many accounts even seem perfectly reasonable. However even then, you don't want to have all your eggs in one basket. Diversify your bank accounts.

While you are right that bankers are paid commission for account openings (sales), they are still responsible for applying good judgement if they want to keep there job. Can a car salesman sell 60 cars to one person on the same day just because he wants the commission?

Also Omgoozle, whats with bringing race into this. This situation has nothing to do with race what-so-ever. People who bring race into things that have nothing to do with race and allege discrimination where there are many much more logical explanations for an action are just plain ignorant.

[Omgoozle]

Suspicious activity report - Wikipedia, the free encyclopedia

Lots of asking for proof, yet I'm the only one posting any.

[Futuremogul888]

No one is asking for proof because you can't prove something that isn't true. SARs and CTRs have nothing to do with amount of accounts they have to do with cash deposit amounts. SARs are voluntary reports usually starting at 3K and CTRs are mandatory starting @ 10K. But again nothing to do with bank account volume.

Also credit checks are not mandatory either. Under the patriot act they just have to verify your identity. There are many ways to do this including DMV records, public record checks, chex/telechex pulls, soft non-credit check credit pulls.

You clearly don't know what you are talking about so end the foolishness, Omgoozle.

[Sandy D]

Originally Posted by Omgoozle

Literally illegal to do after the Patriot Act. One or two maybe, for travelers or foreign students who have proof of college enrollment. But on this scale it's impossible.

Not illegal.

Many backs do not do credit checks only for their own reasons. Mainly because it cost them money etc.

Many banks operate with only using Cheq systems etc. and do not pull credit reports.

Banks are to report any suspicious activity and they are now forced to check into a persons ID etc before opening any bank account.


No one should be opening multiple banks in a short period of time.

[bombora]

I started using CapitalOne360 (formerly ING which was recommended in the sticky) and it works good. No minimum balance, no monthly fees, free debit card (you don't have to pay fees to use ATM) and you can keep opening more and more accounts on your one account and use the same debit card for all of them. They are also doing $50 free into each account you open if you do 5 transactions in the first 45 days which is nice

Its capitalone360.com, do a checking for the free $50 or a savings if you want but they wont credit you with a free $50 in the savings unless you open it with a big deposit. If you wanna use my referral link ( https://r.capitalone360.com/MwskGLnPwC ) they will also credit you an extra $25 for being referred, and me as well ).

These do work with stealth accounts, name match doesn't matter I have been using them since early Fall. Another big plus for doing large #s of accounts is its all automated and online, no bankers to talk to and pressure u into depositing chunks of cash up front or paperwork to fill out.

Beyond that I also used to use Wells Fargo and had no issues there, the only downside is if you want to open like 20 accounts they will be like WTF are you doing and its a lot of hassle especially if the accounts are not high volume. If you're only looking for 1 or 2 or 3 accounts then doing like 1 savings and 2 checking via Wells Fargo will work fine.

[Kelly441]

Sounds great ti'll have to give it a go. I can vouch for Wells Fargo, I have 5 accounts all mismatched names for about a year, no issues.

Originally Posted by bombora

I started using CapitalOne360 (formerly ING which was recommended in the sticky) and it works good. No minimum balance, no monthly fees, free debit card (you don't have to pay fees to use ATM) and you can keep opening more and more accounts on your one account and use the same debit card for all of them. They are also doing $50 free into each account you open if you do 5 transactions in the first 45 days which is nice

Its capitalone360.com, do a checking for the free $50 or a savings if you want but they wont credit you with a free $50 in the savings unless you open it with a big deposit. If you wanna use my referral link ( https://r.capitalone360.com/MwskGLnPwC ) they will also credit you an extra $25 for being referred, and me as well ).

These do work with stealth accounts, name match doesn't matter I have been using them since early Fall. Another big plus for doing large #s of accounts is its all automated and online, no bankers to talk to and pressure u into depositing chunks of cash up front or paperwork to fill out.

Beyond that I also used to use Wells Fargo and had no issues there, the only downside is if you want to open like 20 accounts they will be like WTF are you doing and its a lot of hassle especially if the accounts are not high volume. If you're only looking for 1 or 2 or 3 accounts then doing like 1 savings and 2 checking via Wells Fargo will work fine.

[joesshooze]

I am surprised that nobody has brought up the subject of 60 accts. having monthly fees x60?

[bombora]

Originally Posted by joesshooze

I am surprised that nobody has brought up the subject of 60 accts. having monthly fees x60?

I did bring it up in my post a couple of posts up if you look . My WF charges me $7/month per account. The capitalone360 has no monthly fees or minimum balances. You're going to have a hard time finding a brick and mortar bank that doesn't charge monthly fees these days. 60x7 = $420 = ouch

[MM78]

Originally Posted by joesshooze

I am surprised that nobody has brought up the subject of 60 accts. having monthly fees x60?

Gotta pay to play....If 60 accounts is what the OP needs then I'm sure they are willing to pay the fee's.

[joesshooze]

okay, my bad. That's why this thread is getting ridiculous and I will unsub, bye!

[dealagreeproceed]

FUNNY thread

[jjohnson777]

If you own a bank or largest shareholder only way I see bank letting you open 60 accounts.

Probably cost alot less than think do either at a very small bank.

So there is a way just not very likely way as if can afford to buy or be major stockholder of bank not likely to want that many accounts.

On Wells Fargo if get top account that cost $25 a month no fees on any other account have that is linked to it. Other major banks offer same at Chase there no fees on 8 other accounts if linked. Even regional banks offer it some throw in safety deposit box. Each state has different account types and fees so this info based what my state offers.

[GreenBean]

Originally Posted by dealagreeproceed

FUNNY thread

As funny as it was in 2014 when first opened
R

[rsot]

Originally Posted by jjohnson777

If you own a bank or largest shareholder only way I see bank letting you open 60 accounts.

Also doable if you own a corporation with a main account and multiple sub accounts but there are fees and such

[dealagreeproceed]

Originally Posted by GreenBean

As funny as it was in 2014 when first opened
R

hehe throwback time on aspkin forum LEGO

[ppthump]

Just to be responsible here so that someone who doesnt get the throwback doesnt shoot themselves in the foot - dont use capitol360. This has been posted several times as blacklisted for PP (which is odd since its one of their selections)

[newjerseymax]

Haha Funny thread! I wonder if the OP ever did it?

[BigCJ]

Originally Posted by ppthump

Just to be responsible here so that someone who doesnt get the throwback doesnt shoot themselves in the foot - dont use capitol360. This has been posted several times as blacklisted for PP (which is odd since its one of their selections)

Well, there are legit people out there who use them as actual banks with paypal.

Its just likely that it will cause a huge flag in the system and the owner of the paypal will have to call in to confirm that they are 'real'

Certain BOA numbers are on the trigger block as well, but paypal would loose a HUGE chunk of revenue if they blocked the entire bank.

[JJ373]

Originally Posted by ppthump

Just to be responsible here so that someone who doesnt get the throwback doesnt shoot themselves in the foot - dont use capitol360. This has been posted several times as blacklisted for PP (which is odd since its one of their selections)

Really appreciate the heads up... I got capitol360 open in another browser almost shot myself in the foot as you said...

Came here from the eBay Stealth .pdf where it says check the forum to see most up-to-date info regarding banks currently accepting mismatched names with least problems -- can any body point me to right place? Not having any luck finding the right threads, thanks!

[GreenBean]

Originally Posted by JJ373

Came here from the eBay Stealth .pdf where it says check the forum to see most up-to-date info regarding banks currently accepting mismatched names with least problems

!

Nice one! The forum is so valuable with the info available.

To answer the question.....

You should be OK using what I call the Big 3
BoA
Citi
Chase

These have been consistently OK for many users.
Hope this helps.

[rsot]

TD is also very popular and works well

[BigCJ]

Originally Posted by rsot

TD is also very popular and works well

Newer TD users have been having issues with miss matched names. :(