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Introductory Guide to Bank Accounts (BA) for Beginners
Let's break down what a BA is and how it works.
BA stands for a bank account—one or more accounts sharing common details (essentially, multiple accounts issued to one person).
Each account has its own purpose. We categorize accounts as **profile** (core) and **non-core**.
They share one key trait: either the account suits our work or it doesn't (i.e., whether it allows merging or not).
The main profile accounts for each BA are:
- Checking (checking account)
- Savings (savings account)
Checking compared to what we're used to. For example, it receives the holder's salary, and payments are made from it: utilities, gas, groceries, phone bills.
Transactions on this type of account are frequent, but volumes are usually small.
Savings a savings account. Money sits here without frequent spending, much like our savings books at a savings bank for pensioners.
On checking: small amounts in expenses are normal; the holder checks it often, so the bank views such transactions as routine.
On savings: larger amounts mean the holder checks less often, so the bank flags these transactions as more suspicious.
We decide for ourselves which accounts to work with. Aim to (try) working with all types. Whether checking or savings doesn't matter—the key is if it allows cashing out.
Both are specialized, meaning they're suitable for our work.
Separately, about pension savings (since I mentioned savings money): in the USA, this is a big topic. There are retirement accounts, various IRS types with subspecies and ecosystems, each with unique conditions. For example, employers automatically contribute to old-age funds, or the holder invests in company shares for retirement.
All money stolen from US accounts is compensated by the Federal Reserve. Any legit financial organization displays an FDIC** or **NCUA badge at the bottom, guaranteeing stolen funds' return.
Our choice of account for draining depends on factors like holder activity, bank, transaction alerts (debits/credits/deposits), and more.
Savings requires careful monitoring. In the USA, federal law limits savings accounts to no more than 6 transactions per month (incoming and outgoing). Micro-deposits (minics) count too (e.g., 2 credits + 1 debit = 3 transactions). We'll cover minics later—for now, know they're small transactions up to $1 to verify attached accounts.
What happens on the 7th transaction? The bank might charge a higher fee, close the account, or call the holder (which we don't want).
First rule of BA work: Always read the bank's FAQ and/or documents. Write it down. Print it. Highlight it in red or bright color for visibility.
They're called Terms and Conditions for banks.
Over 6,000 financial institutions in the US, each with different rules.
No transaction limits on **checking**, though rare cases exist (e.g., business checking). Everything's individual.
Now, other account types.
Most have 4 worth noting: Mortgage, Deposit, Loan, invest (Brokerage).
Mortgage—mortgage account. Shows a normal balance (positive), but you can't withdraw; it's repaid debt.
Deposit—if there's a deposit, money's there logically. Withdrawing or transferring requires an X-event: death, default, birth. Or it's time-locked (e.g., until 2028). Check revocation terms. Problematic, though often large sums.
Loan—credit account, like student loans. Usually targeted: car, house, business. Draining possible but tricky; we skip it here due to pitfalls and limited info.
Invest—brokerage account for buying stocks. In the US, stock brokers are common.
Some US investment firms let you *link non-core accounts. If you can't merge from inside the bank, link to an office allowing external transfers.
Don't confuse CIS Forex with US investment offices—different things. We'll cover investments later.
Holders may have 1–100 accounts.
Holders can assign aliases or names to accounts.
Besides other-bank accounts, **card accounts** ("linked card") attach to BA.
If you've worked with SS and done enrolls, you know card accounts.
Everyone's heard of QIWI or Yandex.Money.
QIWI has an account; you link cards (virtual/physical). Think of QIWI as a BA with attached cards. QIWI data enables full bank transfers.
Conversely, some card access shows transactions but no actions. Not a full BA—just a card account, partial roll, short of enroll (no full details like routing/code). Key difference.
Earlier, "fulka" (full info)—complete person data: full name, address, phone, email, DOB (date of birth), SSN (Social Security Number), sometimes MMN (mother's maiden name).
Example: **WILLIAM CHAMP/11000 GULE BLVD/TREASURE ISLAND/FL/33706/407-44-9880/09.20.1936**.
- WILLIAM CHAMP: full name
- 11000 GULE BLVD: address
- TREASURE ISLAND: city
- FL/33706: state/ZIP
- 407-44-9880: SSN
- 09/20/1936: DOB (US format: month.day.year)
**Details**—info enabling transfers: account data for deposits/withdrawals/invoices. Core: account owner.
Let's break down what a BA is and how it works.
BA stands for a bank account—one or more accounts sharing common details (essentially, multiple accounts issued to one person).
Each account has its own purpose. We categorize accounts as **profile** (core) and **non-core**.
They share one key trait: either the account suits our work or it doesn't (i.e., whether it allows merging or not).
The main profile accounts for each BA are:
- Checking (checking account)
- Savings (savings account)
Checking compared to what we're used to. For example, it receives the holder's salary, and payments are made from it: utilities, gas, groceries, phone bills.
Transactions on this type of account are frequent, but volumes are usually small.
Savings a savings account. Money sits here without frequent spending, much like our savings books at a savings bank for pensioners.
On checking: small amounts in expenses are normal; the holder checks it often, so the bank views such transactions as routine.
On savings: larger amounts mean the holder checks less often, so the bank flags these transactions as more suspicious.
We decide for ourselves which accounts to work with. Aim to (try) working with all types. Whether checking or savings doesn't matter—the key is if it allows cashing out.
Both are specialized, meaning they're suitable for our work.
Separately, about pension savings (since I mentioned savings money): in the USA, this is a big topic. There are retirement accounts, various IRS types with subspecies and ecosystems, each with unique conditions. For example, employers automatically contribute to old-age funds, or the holder invests in company shares for retirement.
All money stolen from US accounts is compensated by the Federal Reserve. Any legit financial organization displays an FDIC** or **NCUA badge at the bottom, guaranteeing stolen funds' return.
Our choice of account for draining depends on factors like holder activity, bank, transaction alerts (debits/credits/deposits), and more.
Savings requires careful monitoring. In the USA, federal law limits savings accounts to no more than 6 transactions per month (incoming and outgoing). Micro-deposits (minics) count too (e.g., 2 credits + 1 debit = 3 transactions). We'll cover minics later—for now, know they're small transactions up to $1 to verify attached accounts.
What happens on the 7th transaction? The bank might charge a higher fee, close the account, or call the holder (which we don't want).
First rule of BA work: Always read the bank's FAQ and/or documents. Write it down. Print it. Highlight it in red or bright color for visibility.
They're called Terms and Conditions for banks.
Over 6,000 financial institutions in the US, each with different rules.
No transaction limits on **checking**, though rare cases exist (e.g., business checking). Everything's individual.
Now, other account types.
Most have 4 worth noting: Mortgage, Deposit, Loan, invest (Brokerage).
Mortgage—mortgage account. Shows a normal balance (positive), but you can't withdraw; it's repaid debt.
Deposit—if there's a deposit, money's there logically. Withdrawing or transferring requires an X-event: death, default, birth. Or it's time-locked (e.g., until 2028). Check revocation terms. Problematic, though often large sums.
Loan—credit account, like student loans. Usually targeted: car, house, business. Draining possible but tricky; we skip it here due to pitfalls and limited info.
Invest—brokerage account for buying stocks. In the US, stock brokers are common.
Some US investment firms let you *link non-core accounts. If you can't merge from inside the bank, link to an office allowing external transfers.
Don't confuse CIS Forex with US investment offices—different things. We'll cover investments later.
Holders may have 1–100 accounts.
Holders can assign aliases or names to accounts.
Besides other-bank accounts, **card accounts** ("linked card") attach to BA.
If you've worked with SS and done enrolls, you know card accounts.
Everyone's heard of QIWI or Yandex.Money.
QIWI has an account; you link cards (virtual/physical). Think of QIWI as a BA with attached cards. QIWI data enables full bank transfers.
Conversely, some card access shows transactions but no actions. Not a full BA—just a card account, partial roll, short of enroll (no full details like routing/code). Key difference.
Earlier, "fulka" (full info)—complete person data: full name, address, phone, email, DOB (date of birth), SSN (Social Security Number), sometimes MMN (mother's maiden name).
Example: **WILLIAM CHAMP/11000 GULE BLVD/TREASURE ISLAND/FL/33706/407-44-9880/09.20.1936**.
- WILLIAM CHAMP: full name
- 11000 GULE BLVD: address
- TREASURE ISLAND: city
- FL/33706: state/ZIP
- 407-44-9880: SSN
- 09/20/1936: DOB (US format: month.day.year)
**Details**—info enabling transfers: account data for deposits/withdrawals/invoices. Core: account owner.
