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Re: bank closed my accounts and not releasing funds
 

There is an option, but it might be a gamble. Go get a DBA under each name and simply provide to the bank that you are doing business under different names for privacy.

Re: bank closed my accounts and not releasing funds
 

Chase is horrible to deal with regarding fraud. I just went through this with them in June.
I deposited a check into my account written out to my maiden name. It's on my license
but not my bank account. They froze all of my accounts for fraud. It was a nightmare.
They eventually reactivated the accounts but it was a nightmare. I will never deposit anything
into a Chase account that isn't written out correctly.
They seem to be getting more particular about deposits, etc.

Re: bank closed my accounts and not releasing funds
 

I second that. Had nothing but problems with Chase in regards to doing anything "3rd party". They closed one of my accounts simply because it was not "properly endored". The kicker was that check was just for $33!

Another incident was when I had a friend of mine deposit $800 cash into my account at another Chase branch. The teller told my friend they needed to know his full name, DOB, and SSN then wanted him to fill out some paperwork. WTF?

Chase is a PITA to deal with on these things, which is probably a good enough reason to stop using them for stealth.

Re: bank closed my accounts and not releasing funds
 

Interesting.....I've opened,closed so many Chase Accounts.....I would assume they would of closed me down a long time ago.

Re: bank closed my accounts and not releasing funds
 

Weird. I've deposited several checks past the "No longer redeemable after x date" checks late via Chase ATMS never had a problem.

Re: bank closed my accounts and not releasing funds
 

You can get away with a lot at an ATM.

Often a human never even touches things so the oversight is thin. If you tried that with a human teller most places it wouldn't work.

Re: bank closed my accounts and not releasing funds
 

Very true.

Re: bank closed my accounts and not releasing funds
 

Most of the ATM's are only looking at the MICR codes on the bottom of the check (acct/routing) and the amount. The payee doesn't really matter all that much. The item is processed electronically and won't be manually reviewed unless there is some sort of issue with the item.

Re: bank closed my accounts and not releasing funds
 

Market manipulators and shady exchanges will screw you even harder

Re: bank closed my accounts and not releasing funds
 

The OP has provided information but still hasn't said how all of this came up. How did they notify you? Did you walk into the bank to withdraw and they said oh... wait...

Or did you get a call?

Or what?

I only have one account at Chase as I think they're the worst bank ever. However, I have about 20 accounts at another bank because i know the branch manager and they've been great.

Re: bank closed my accounts and not releasing funds
 

And one day, when that manager inevitably leaves, and the new guy reviews the old guy's work, and finds some irregularities, and makes some changes.... well, I think we can all see where this is going to end up, can't we?

We'll be seeing a thread titled 'HELP!!!!!! EMERGENCY!!!! The bank closed 20 of my accounts and seized all my funds!!!! HELP!!!!!!'.

Seriously, does no one think even 10 minutes ahead of the current moment in time? :)

Re: bank closed my accounts and not releasing funds
 

I just wish OP would reveal more details.

It doesn't seem to me that this was unavoidable. I myself have several accounts with Chase. I think 4.

Re: bank closed my accounts and not releasing funds
 

If I was OP I would get a attorney and not count it as a lost as that is a lot of money for me. I have 1 savings and 2 checking at my bank thinking about opening another savings but doesn't seem worth the risk so I'm going to open an account at BOA after reading this thread.

Re: bank closed my accounts and not releasing funds
 

the best way is NOT to transfer pay-pal money to a BANK, rather spend it or get the fund without withdrawing to a bank , somehow. Some banks are very sensitive to different people depositing on your account. Just be creative.

Re: bank closed my accounts and not releasing funds
 

You must be hiding something.

__________________
How to use Paypal correctly
Run multiple portable Firefox, 1 user account
How to add new PP to eBay

Re: bank closed my accounts and not releasing funds
 

Whenever possible I spend PP funds directly on inventory.

I already have too many bank transactions to want more.

However, it does sound suspiscious

Re: bank closed my accounts and not releasing funds
 

I have some withdrawal limits on some current accounts that aren't practical to lift, so I was thinking of using this strategy. However, Paypal's piss poor protection very much scares me.

And also, since the address on the stealth PayPal is different from my own, I'm afraid that when I enter my real address as the "ship to" address, it will cause PayPal to link my accounts and screw me out of ma monies.

Re: bank closed my accounts and not releasing funds
 

Paypals piss poor protection? I've lost almost all my cases when a buyer opens it up, unless they are complete morons, or I make the mistake of being too nice or too honest.

Re: bank closed my accounts and not releasing funds
 

Yeah. I'm not talking about consumer disputes for like $30-50, I'm talking about inventory and wholesale supplier invoices

Example, I ordered some equipment from a supplier who I have an outstanding relationship with for over a year. About $650. Great relationship up until that point, then they ship me 100% defective goods which don't resemble any of my previous orders in the slightest, and then they go AWOL. No response at all.

Paypal's response? I should pay the $800 DHL fee to ship it back if I want a refund. ME, not the supplier, who intentionally sent me crappy ****. Ok cool, so not only do I get scammed out of my $650 bucks, but now I should forfeit an additional $800 for the seller who intentionally scammed me with bogus goods knowing well that it would be economically unfreasible to send it back.

Always use a CC.

Re: bank closed my accounts and not releasing funds
 

2 quick questions guys?

1) how often does this happen if name of stealth account doesn't match bank account.

2) if you keep account under $10k earning for the year. will this not happen? bc I'm thinking when u reach 10k is when they have report it.

thanks

Re: bank closed my accounts and not releasing funds
 

Personal accounts are just bad news when you start operating under many stealth accounts and big dollar amounts. 8 operating personal accounts are a lot to have with one bank to be honest.

For 12k I would consider getting a lawyer involved. I can tell you that IMO I do not think you will have luck on your own trying to get the money out.

I would also tell you to immediately check your standing with reporting agencies such as chexsystems and EWS. This may have been a factor in Chase making their decision to shut down your accounts. Order reports from them and see how you stand with these agencies.

OP if you can give us more details about your banking activity with Chase it will serve to help us give you more feedback and give us more insight into how the banks are making risk assessments. Did your 12k come in overnight? Over a weekend? Or this was money slowly building up for a while?

Re: bank closed my accounts and not releasing funds
 

just tell them to reverse the payments back to pp if they wont release them to you . i had the same problem before they finally reversed payment back to pp

Re: bank closed my accounts and not releasing funds
 

I dont know how to fix this, but I do know legally if the money is not claimed it has to be given over to the Treasury department, and then you simply contact them and bam, you get your money. I think that period is atleast 5 years.

Re: bank closed my accounts and not releasing funds
 

The bank account is in your name so it does not matter what names were on the PayPal & they have no legal right to hold your funds if you provide ID in branch.

Do you have a financial complaint system in the US?

Re: bank closed my accounts and not releasing funds
 

File a formal complaint to the OCC (Office of the Comptroller of the Currency) which is the agency in the US (division of the Treasury) that oversees banks. They can sometimes help with these types of situations.

If the OCC complaint doesn't yeild results, you may need to involve a Consumer Attorney for advise.