As opposed to Bank of Internet or just about any other Internet bank where you don't have these restrictions. The moral of this story is this - you have options. Besides Bank of Internet, another bank I like is Redneck Bank (www.redneckbank.com). Yes, it is a real brick and mortar bank that tries to make you feel like you are you are on Green Acres doing your banking in Pixley.
If you want your money to be hard for a Judgment Creditor to find, just make it hard to find.
Thank you Fly!
I actually did apply to Bank of Internet yesterday. Was quickly approved. But I did notice a hard pull on my TU today which could lead to discovery of the account. Of course even if the funds there are discovered, it would require a domesticated judgement in the banks home state. Discover Bank seems to be another online bank. I'm not sure if they do a hard pull in their approval process.
But this brings up another issue that I haven't seen mentioned here very often. The restraining order served upon the debtor. I am in NY. About 20 years ago I remember my then wife who had some credit issues was served with an Information Subpoena and Restraining Order. In NY it seems to be one form, that basically forbids the transfer or sale of any property and cash. This has me thinking about the debtor who is served with such, answered the subpoena truthfully about bank accounts, then the following day closes those accounts or spends the money.