Help with BofA - opening a business checking account remotely

[BrettSilverman]

Hi,
Me and my partners have tried unsuccessfully to open either Business Fundamentals or Business Advantage type of business checking account online for our LLCs but got either declined right away or after a couple of hours received a decline email.
Any suggestions? Have they changed their policy regarding remote opening lately? I remember back in 2018 it was not a problem.

 

[BrettSilverman]

Is mentor group gold membership just a gilded metal lol?

 

[JohnLocke]

There is not sufficient information for anyone to answer this question.

For instant where are you going to register the company? what business is it you want to start, and which banks have you tried?

Where are you located?

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[BrettSilverman]

James Spader said:
There is not sufficient information for anyone to answer this question.

For instant where are you going to register the company? what business is it you want to start, and which banks have you tried?

Where are you located?
Click to expand...

I understand. I am going to register one company in FL and another one in TX (with my partners).
Starting an ecommerce business, online retail
I tried Bank of America and Chase
Located in FL

 

[BrettSilverman]

why is BofA declining online business checking accounts now more frequently?

 

[lory]

You want to check with Mercury bank, they are simple to work with and have a ultra high approval rate.

BofA is going to be stricter as Biden is taking a hard grip on all the tax evaders in the US, he need their money.

 

[BrettSilverman]

lory said:
You want to check with Mercury bank, they are simple to work with and have a ultra high approval rate.

BofA is going to be stricter as Biden is taking a hard grip on all the tax evaders in the US, he need their money.
Click to expand...

thanks, what's their policy on transactions from merchant account? meaning we are going to have $300+ coming in each day with occasional $30-$40 chargebacks hitting our bank account, would this raise flags with them? I wouldn't want to have my account frozen all of a sudden. Are they known for freezing accounts out of the blue?

BofA is much stricter now indeed, but I wasn't expecting being unable to open a business account with them at all, we've had several attempts with different companies

 

[bonox]

Using Mercury bank for 2 years, didn't had a single issue with them.

 

[JohnnyDoe]

bonox said:
Using Mercury bank for 2 years, didn't had a single issue with them.
Click to expand...

Same here.
I also have a personal BoA account which I managed to open only because I know someone in there (sorry the guy won't open other accounts)

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[BrettSilverman]

I will definitely try out Mercury.
Still curious why BofA went so strict. Is it their KYC or some technical issue? I am using an outdated browser. Also, the 800 number I give to them is actually a virtual number, not a landline so perhaps that could factor in?