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Why would someone lie about that? Having 30 bank accounts does not confer any prestige upon you. There are companies that do this for people (https://en.wikip
by from 4y ago
Why would someone lie about that? Having 30 bank accounts does not confer any prestige upon you. There are companies that do this for people (https://en.wikipedia.org/wiki/Certificate_of_Deposit_Account_Registry_Service https://en.wikipedia.org/wiki/Certificate_of_Deposit_Account...) and if you Google "FDIC sweep" or "insured cash sweep" there are a bunch of banks talking about how they support automatically moving money out when an account gets more than $250000 in it.
- zamnos 4y agoWhat's more likely being lost in translation is that they have an insured cash sweep account and explained how that works, and who exactly is creating the 30 bank accounts is what's being misunderstood in this game of telephone.