I had 3 online savings accounts with Barclays US and today I got an email saying my account was restricted because of fraud activity. I've used all 3 to verify my PayPal accounts and that worked fine and then I just deposited $500 into one account and boom - a day later I get the email. I just called them and they said I need to talk to their fraud department, and of course they close at 4. I asked him kind of fraud activity was going on and he asked if I was making PayPal deposits and I said yes and he goes yeah we monitor PayPal really closely so we will need to speak with you on that when you call back.
I just want my money don't care about the accounts -- hopefully I'll at least be able to make an external transfer with. I will update this post tomorrow after I call them. But just wanted to give everyone a warning about it.
The complete step-by-step guide to get back to selling today!
I am going with the same process like you, I had many more accounts with them. They got restricted about 2-3 months ago now. It's very un-logistical that they close at 5pm EST, when I live on west coast. I am very busy in the mornings and really wake up late.
I had my accounts for about 6 months when I got greedy and decided to open a few more. I have around 600 in there.
I did just get off the phone with them and they removed the restriction so that I can access the money. They also said that they monitor it VERY closely when deposits are coming in through different names. I told them I do work for each one of those people and that's why I set up the account so they could just direct deposit into it.
He also said they will shut it down again if they see that money keeps coming in and going out frequently. He said these accounts aren't to be the middle man for a business.
I'm just going to withdraw the money to an external account and look for a new online bank. Ally has been good to me so far, but I still have my fingers crossed.
I just wanted everyone to know.
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I did just get off the phone with them and they removed the restriction so that I can access the money. They also said that they monitor it VERY closely when deposits are coming in through different names. I told them I do work for each one of those people and that's why I set up the account so they could just direct deposit into it.
He also said they will shut it down again if they see that money keeps coming in and going out frequently. He said these accounts aren't to be the middle man for a business.
I'm just going to withdraw the money to an external account and look for a new online bank. Ally has been good to me so far, but I still have my fingers crossed.
I just wanted everyone to know.
Ally will eventually do the same thing. Long significant thread on here as to why NOT to use them. Not paypal friendly.
yea, do some searching for Ally and paypal. Not very paypal friendly.
The best thing to do is start a legal business and start opening business accounts at banks. Any bank that does business accounts, some don't offer it, will accept any deposit with mismatched names. I am going down that route right now, just need to submit my final paper work to the state.
Stay away from Barclays Online Savings 
