Bank account have frozen my funds

[garyjohnson]

Hi,

I have a bank account with Uaccount. They recently sent me a message saying they had frozen my funds, around 11k for the following reasons.

''We're getting in touch because sometimes we need to ask for more information about how a customer is using their account, in order to satisfy regulatory requirements placed upon us by law.

This usually applies to new accounts or accounts where some of the transactions seem a little unusual for a personal account. These guidelines mean we need to understand, and in some scenarios obtain evidence of where our customers are receiving money from (known as source of funds).

I'm afraid we have had to temporarily restrict your account while we wait for your answers to the questions below. For the time being, you will not be able to receive funds into your account, pay direct debits or take money out. If you are expecting any money into your account, we would recommend that you make alternative arrangements while we complete our review.

Please see section 5.3 of the U Account and Card Terms and Conditions for details about our right to restrict accounts.

We can see that you have received a large number of payments into your account from PayPal, which is not consistent with a personal account. Could you please help us to understand the reason for the payments?

If the PayPal account used to send the money is in your name, please provide us with two screenshots: one of the screen showing that the PayPal account is in your name and at your address, and one of the screen showing your PayPal transaction history, so that we can match up the payments into your U account. In addition, we need to know where these funds are coming from – for example, if you are running a store on eBay, we would need to see screenshots of these same two screens from within your eBay account.

The more detail you provide about these transactions, the easier it will be for us to complete our review. Any evidence you can supply will also help us speed things up.

I have enabled the ability for you to attach documents to this message, so if there is anything in addition to the above that you can think of which might help us to understand where you are receiving this money from, please include this when you reply. The Other section of our FAQs give some examples of things you can use to evidence source of funds (www.uaccount.uk/frequently-asked-questions).

I look forward to hearing from you and please don't hesitate to ask any questions you may have.'

So I'm unsure of what to do now. If anyone has any advice, that would be amazing.

To clarify, the bank account is in my name. The Paypal account is in someone else name.

I was going to say that my friend has being paying his Paypal money directly into my account as he owes me money and that we set it up to my account so that he doesn't have to pay any fees for sending.

Any advice, really appreciated.

[avtobus]

never trust Uaccount with a big sum of money. They are always ready to take your funds.

[agent006140]

ask your friend to send you money outside Paypal.

[nickopedia]

U Account is a digital/internet "bank" based in UK. It's nothing like the actual high street banks you probably should be using.

It's similar to Metabank, Greendot, or other "crap" banks in the USA.

You are best advised to use a REAL bank. That is a bank with actual branches you can visit and walk into.

[spindoctor]

Give them what you want.

If your using Firefox... there’s a add on called web developer install that.

Log into your PayPal whilst logged in, open web developer and click on inspector, this will open a box whilst your logged into PayPal. You need to highlight the name within PayPal, once you do... in the inspector box below, you’ll be able edit the PayPal name very easily. Once edited it will then show in PayPal the name you edited, simply cross off inspector but don’t click any thing with PayPal, this will put the name back to the original.

Whilst the name has been changed, take the required screenshots and send them to uaccount.

Once sent... then report back here and let me know the outcome. If they don’t release the funds, let me know and I’ll walk you through what to do next.

This requires scare tactics and forcing there hand to release funds. However you won’t be able to use uaccount again after this. They don’t like being forced to release funds. I’ve dealt with them many times and have always had success.

[SaiJin]

My goodness, I'm really sorry to hear about this.
I don't have a solution since I don't deal with that bank, but I really hope someone here can share a potential solution

[nickopedia]

Since the OP is in the UK, he has options to get them to release funds as Spindoctor pointed out.

[SaiJin]

Yea, I really hope that works. What spindoctor shared I mean.

It sounds like a good tactic.