The Bank Levy is a one shot deal. Meaning that the IRS must continue to issue a new Bank Levy every time they want to clean out your bank account. The Wage Levy (Garnishment) is much, much worse. It’s designed to continuously levy your wages. It usually gives rise to personal financial problems.
The Wage Levy is issued to your employer and it instructs the employer to immediately start withholding a high amount of money to pay old tax liabilities in addition to the normal taxes being withheld.
Wage Levies often result in you only receiving a few dollars pay per pay period. This usually makes it impossible to pay your bills and eat. The IRS knows that Wage Levies cause all types of harm to you and your family, but they mail out thousands every day. Usually this happens after you have ignored IRS personnel trying to contact you.