re: OFFICIAL Arkansas Coaching Search Thread

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It's the way I'd do it. Set up an LLC. FEIN, bank account, get app for your phone. Create biz name that $20, $50, $120 transactions would be common place. Maybe put up a website that shows some bogus products or services at those prices

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We talking illicit activities here? What the hellz.

But just an FYI, regulators are cracking down HARD on banks for their BSA programs (think money laundering prevention). In your example, they would actually be monitoring all of those transactions manually and in many cases automatically for any activity that is outside the normal scope for a business of any sort.

So, if you did a lawn care company as your front...You'd have to be taking in only enough money that would be reasonable based on their account profile for you. "How many workers? How many trucks? How many clients? etc, etc." They'd ask questions similar to those when you opened the account (or - they SHOULD) and then use that as a baseline to compare against your actual activity. If you told them 2 trucks, 30 clients - they'd know something was up if you were depositing $1000/day.

Anyway, just saying it's not as easy as it sounds.