[KarlInOhio]

Makes me want to set up a circle of accounts to constantly transfer money around just to clutter the system. Alone it means nothing, but if 300 million people can make a couple of hundred extra transactions per year it might blind the system.

Right now I have $500 bouncing between two accounts monthly because one of them changed the requirement to have a free account to having a $500 direct deposit every month, so they get the same $500 every month.

[TheCipher]

Makes me want to set up a circle of accounts to constantly transfer money around just to clutter the system.

The IRS has been doing this for years to US citizens living overseas. If you have 10k or mote in an account, you have to file a FBAR form every year. Failure to do so could result in a 10K fine and 3 years in jail. You have to file a form for each account. One year I had a little over 10K in an account. I transferred this money to different banks 3 times in one year. Thus 3 forms. They came back to me claiming I had 30K in accounts and comparing it to the previous year where I only had one account, they claimed I made an extra 20K that wasn't reported on my income tax form. Took me 6 months to straighten it out with these idiots.

[spokeshave]

Makes me want to set up a circle of accounts to constantly transfer money around just to clutter the system.

Banks usually charge a monthly fee....unless you keep more than a thousand or so $ or a regular deposit into the account.