Suddenly all credit cards for my employees don’t have spending limit assigned. I know for sure that I set up different spending limits.  They just disappeared.

When trying to set it up it gives me: UNABLE TO COMPLETE TRANSACTION

It doesn’t matter what amount I put there. Always the same message. Even more frustrating is to call Chase customer support and trying to explain it to someone. I called three times. First time they just start talking to me in Spanish. The next time someone spoke English with heavy Spanish accent. I had hard time to understand. Then they transferred me few times around and finally I got a busy tone. Someone just hung up.

There is a service called Wells Fargo Customer to Customer transfer. I never heard about this payment option until some scammers started using it. Basically any customer can send money to any other Wells Fargo customer.

Remember the phising emails. Click here to login to your Wells Fargo account. I always thought what the scammers do with the login. Because there is not much you can do. See statements or maybe change address. But you cannot write checks or send wire transfer (which you have to do personally in the bank). Now I understand how the login can be useful to scammers. They can use this great function designed by Wells Fargo and send money to some other account.

All he needs to know is account number (printed on every check) and your name.

I believe the name doesn’t have to be 100% accurate. As long last name fits I think that transfer goes through. If you ask why I know that it is because someone sent money to our company account the same way. And I know for sure they didn’t know correctly my full name. I go by different name in my life and the legal name is not published anywhere.

So at the end someone sends money to you and your account gets disabled. Nothing will help you. You can call Wells Fargo and they will treat you as a scammer.

What really sucks:

• I tried to disable accepting such payments to my account. Wells Fargo said it is not allowed. In seven years of being Wells Fargo customer I never used myself this customer to customer payment method. I never received payment like this. Only two payments in the last 7 days and both from some scammers (one from Nigeria). So we must receive payments by this method even if it used by scammers only (in our own experience)
• Wells Fargo thinks that we are responsible because money came to our account. Yes, I understand this logic. But we are a mail forwarding business and we cannot be responsible for every one of our customers.  We have thousands of customers and there are always just few who are scammers. We cut them off. We cancel their service once we find out. But we cannot stop doing business because one in hundreds of customers is doing fraud. We can learn, improve our security measures, which is what we are doing constantly. It is hurting on personal level that after 7 years of banking relationship Wells Fargo thinks that I (owner of the company) is involved in some scam to get $500 to my account.
• We have international clients so we need accept wire transfer. When you have customer paying by wire transfer you have to provide them with information about your account (account number, bank name). Wells Fargo things that is the security breach on our part. That we should never publish or give information about our account to anyone. But how can we do business with customers if they cannot pay us? I think that is just ridiculous and Wells Fargo is desperate to find a blame for their fault security system.
• While Wells Fargo investigates (10 days). They cut off all our access, bill pay, online statements… To all accounts (personal, other businesses, anything I have with Wells Farg). So good luck trying to find what is happening with my credit cards, bills, payments…

I spent hours on the phone and in my branch. I tried to explain, but it seems no ones cares. Couple of times I heard that I will be lucky just to keep my account once the investigation is closed. Once again. I am seven years customer. I have accounts for four of my corporations and my personal account. I have credit cards, line of credit for hundreds of thousands… And the relationship goes to toilet because of some idiot from Nigeria misuses some other customer account.

• Send money 24/7 online or byphone

• Pick up money anytime from one million ATMs worldwide

• Transfer money instantly!

 You can re-charge the VISA card anytime you want. You can use millions of ATMs to get your money. I think this is pretty good idea how to send someone money.

If you need any additional information for the below order, please let me know…

I guess that you need our passport copies for the EIN number.. pls advise!

by the way, I have contact the banker from Citibank that you have recommended, it was an increible nice communication, the best introducing services for banking that I have ever receive, THANK YOU!, we will open an account with CITIBANK, thru your friends Robert Arnal & Timo J. Casiño

best Regards

bye

Pablo Morales

PD= Rodolfo Gonzalez (cousin of mine and partner )  is asking me if you have franchissee system? if yes, how it does work?

Thank you for your kind email. We offer affiliate and licensing program.

In my recent experience I first got a letter of commitment Wells Fargo for 7.85% and I believed it was a good deal. Then Bank of America contacted me and offered 6.4% with the same conditions. When Wells Fargo learned that they suddenly could do something what was never possible before (lock the rate, lower the interest rate spread). The only thing which let them offer a decent deal was the feeling of competition.

Always contact more banks and let them compete for your deal! You can save a lot of money!

If you have your account in Las Vegas, you can still do your banking at any branch in the US.

The banks need to have a copy of the articles, the EIN for the company and the list of officers needs to be filed.

Bank of America requires the Secretary be the signer on the account. Bank of America and Citibank do not accept nominee directors. Whomever is listed on the list of officers is who needs to open the bank account. Please contact the bankers directly for any other questions.

http://www.incparadise.com/banking/bankinfo.htm

I found an another way and I am going to share it with you.  I do all wire transfers on my computer now. The fees are half of what I used to pay. It takes 3-4 minutes to do complete wire transfer. I can send money in the U.S.A. or internationally. What is the secret? Not very publicly known service from Wells Fargo bank. They can allow you to do wire transfers from any computer with Internet. You can do it yourself. The only requirement is that you do at least three wire transfers a month.

hallo to the incparadies-team,before i start: i come from germany, so please excuse my english if it is not correct.
my name is robert and i have found your company in google.
i am interested in an company formation in nevada.
i have already a company in england but i want to open a new one in the usa because of the low tax-rates in nevada.i am software-developer and sell over the internet.

is it possible that you setup an company for me together with an bank account including online-banking and send me all with ups?

i stay outside the usa.

thank you for your answer.

Hello Robert, Nevada is a great state for doing business. Most of the U.S. states have state taxes and Nevada doesn’t have state taxes for individuals or corporations. We can help you start a new Nevada corporation. Our fee is $89+ state fee. Complete package comes to $283.

But we cannot open a bank account. Only person authorized by the corporation can open the bank account. Most of the banks will require you to come to a bank branch personally. Some banks have easier rules for international clients. For example Bank of America is great for international clients without an SSN, but they will have to come into a branch. For US citizens, they can sign up here in Nevada, and sign a card in their local branch. See more info here.

Wikipedia: The Small Business Administration (SBA) 504 loan program was created to help small to mid-sized business owners acquire commercial property without the financial hassles. While this program is less-used and very little understood, in order to qualify, over half (51%) of the property must be occupied by the borrowers within one year of ownership. Another option is forming a holding company from two operating companies. This company can then take the title to the commercial property. To qualify for this program, U.S. citizens or permanent residents must hold a majority of the ownership of the operating companies and the holding company. The 504 Loan does not contain any restrictions or ceilings; however, there are three criteria for eligibility: 

• The company’s average net income cannot surpass $2.5 million.
• The anticipated project size must be greater than the personal, non-retirement, unencumbered liquid assets of the guarantors/principals.
• Net worth of the operating companies must be $7 million or less.

SBA loans are really great. You need just 10% downpayment comparing to 25-35% for conventional commercial loans.