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bank closed my accounts and not releasing funds
 

well.... I had over 8 accounts at chase (my rookie mistake) and they closed my accounts for mismatched names and they wont release my funds
They said they want every single person under the name of my stealths to come to the branch before they will release my funds
What do i do at this point:help:
They screwed me over 12k =/

Re: bank closed my accounts and not releasing funds
 

chase bank btw if it makes any difference

Re: bank closed my accounts and not releasing funds
 

You had too many bank accounts with 1 bank......gotta spread em out a little more, like 3-4 tops.

Re: bank closed my accounts and not releasing funds
 

I understand but how do I get my funds out they want ID for every single stealth name and they want the "person" to come to the bank

Re: bank closed my accounts and not releasing funds
 

A while back someone on the forum had mentioned about a document that you could fill out and that would force or some how get the bank to release the funds, I don't remember the user who mentioned it OR what the document was exactly. I do remember the words FDIC in the title.

Re: bank closed my accounts and not releasing funds
 

Bank will screw you, Paypal will screw you, time for CRYPTO.

Re: bank closed my accounts and not releasing funds
 

Were these personal accounts for biz accounts? And how long were the accounts open for?

Btw, question for the vets in the thread... would he have seen this problem if he was using solely biz accounts?

Re: bank closed my accounts and not releasing funds
 

All personal accounts

Re: bank closed my accounts and not releasing funds
 

i had a bank refuse to release to me so they returned back to pp and i have to add all new banks to get my funds

Re: bank closed my accounts and not releasing funds
 

Which bank OP?

Re: bank closed my accounts and not releasing funds
 

It is not clear to me if bank accounts were in your own personal details or under stealth names.

If you are the owner of the bank accounts that money belongs to you... right?

Re: bank closed my accounts and not releasing funds
 

OP said Chase... which is surprising as I thought they were a widely used bank

Re: bank closed my accounts and not releasing funds
 

Chase all under stealth names

Re: bank closed my accounts and not releasing funds
 

It still boggle my mind people think they can create 8 bank accounts at one bank and not think its going to throw up a Money Laundering flag. I still run my core 9 Stealth accounts I got in 2009 and 2011. I always have 1 Checking and 2 Savings at each. Never more than that. Why rock the boat?

As far as Chase goes you can't even deposit money for a friend without giving them your ID, etc. Chase got sued for laundering money for somebody. It was either a Drug Cartel or Hezbollah. I can't remember because WF, HSBC have all paid penalties for similar ****. Never makes the Guberment controlled ⊗⊗⊗⊗ News though. They call it programming for a reason.

Re: bank closed my accounts and not releasing funds
 

Chase is known for being a bit "touchy" about things. They closed two accounts on me, one for simply having a "non physical address" (I used a Mail Box place), and the other account they closed due to an third party check which supposedly I didn't endorse for only $33. Both accounts were personal.

I'd stay away from Chase given they are quite picky when it comes to procedural things. It might also help to have a business account with them. Wells Fargo and BofA don't seem to care as much not only about mismatched names, but also if I had a PO Box or non physical address.

Re: bank closed my accounts and not releasing funds
 

even worst, OP actually opened 8 accounts in stealth names

so that money doesn't belongs to him... he can say bye bye to the money.

Bank accounts has to be opened in REAL INFOS this is written all over the forum.
Sorry OP.

You guys are getting this wrong..
The bank accounts are all under my name it's just the money came in with mismatched names and they are asking me who these people are

Re: bank closed my accounts and not releasing funds
 

This makes things a lot more clearer....you can't play around with OPENING bank accounts in stealth names...bank accounts in real details are to be done.

I was in the US physically recently opening accounts at BofA and PNC - those 2 have been good so far. BMO-Harris is also very nice

Re: bank closed my accounts and not releasing funds
 

Actually this is what you wrote.

Re: bank closed my accounts and not releasing funds
 

OP why not try do what Bluegrass1 said above?
because this thread seems to be going nowhere.

Re: bank closed my accounts and not releasing funds
 

How much money is involved?

They can't just keep the money forever. At some point they have to release the funds or turn them over to the government.

They'll probably prevent PP from reversing the transfers.

Re: bank closed my accounts and not releasing funds
 

demand they send the money back to paypal or release the funds. You do not want them sending it to Lost Money because it will go into the system in the stealth names.

Re: bank closed my accounts and not releasing funds
 

If they've frozen the account for fraud, demanding the return of the money is probably pointless.

I think the amount hold is becoming important to the conversation. If it's 50k an attorney is the next step, if it's $39.99 the game is over.

Re: bank closed my accounts and not releasing funds
 

lol why the hell would you need to prove identities of the people that the money is being sent to. This is bull****. No way this is legal. The accounts are under your name. It's your money. They can't just steal it from you. I'd pitch quite a fit if they did this to me. Hell, you could EASILY say that these were real people, working for you in other states, with you being the main source for the money to flow to. They can't exactly expect out of state people to show up.

Re: bank closed my accounts and not releasing funds
 

Good point, james13v. They could be paying you for services rendered, the origin name of the PP doesn't matter in that case.

Of course in the 90 pages of documents you signed when you opened the account, you probably agreed not to allow this to happen.

Re: bank closed my accounts and not releasing funds
 

Thats exactly what I said
The bank said they want the people to come with their IDs to the branch like wtf

Re: bank closed my accounts and not releasing funds
 

12k as stated in the first post.

Re: bank closed my accounts and not releasing funds
 

I see that now, thank you.

There is a process to follow in these things.

I'm not an attorney, but I do have some experience with this particular kind of banking problem.

Verbalseduction if you want to PM me I can put you on the path to try to resolve this with Chase.

Re: bank closed my accounts and not releasing funds
 

Hope to resolve this issue :/ as of now no luck

Re: bank closed my accounts and not releasing funds
 

how did they respond to you when you stated that these people aren't the owners of the accounts, as the accounts are clearly under your name?

Re: bank closed my accounts and not releasing funds
 

Have a look at your banks T&C's because i know with my bank, anybody can deposit money to the account under any name

Re: bank closed my accounts and not releasing funds
 

how long have you been with chase and over what course of time did you open these accounts apart from each other?

Re: bank closed my accounts and not releasing funds
 

Very good question!

In the meantime, let this serve as a warning to all of us! Don't have too many accounts at one bank!

Re: bank closed my accounts and not releasing funds
 

They said we need identification because this is suspected fraud

Re: bank closed my accounts and not releasing funds
 

When did you open the first account and how much time passed between opening the subsequent accounts?

Did you use them all monthly? Or were some opened, received deposits, the stealths got closed and then you stopped using the accounts?

Help us understand what led to this issue so we can avoid it.

Re: bank closed my accounts and not releasing funds
 

one month after another I opened accounts maybe 8 closed a few too so total of 10 maybe
I was fine until there was just too many accounts
I had 5 for about a year and had no problems until I started opening more

Re: bank closed my accounts and not releasing funds
 

And then randomly, they just called you up and said " we are talking your money?"

Re: bank closed my accounts and not releasing funds
 

The only thing they keep repeating is "we need verification of the funds that were transferred to your account"
Anything I say will go back to the same exact statement above
RIP 12k

Re: bank closed my accounts and not releasing funds
 

The other 3 accounts you opened after the original 5, were they opened within a month of each other? 2 months? 3?

Re: bank closed my accounts and not releasing funds
 

They allowed it to happen. If they didn't like the number of accounts they shouldn't let that many be opened.