Will a bank account freeze an eBay payment for no reason?

samspalace · #1 03-08-2021

Hi everyone,

This is a general question I have

“Will a bank account freeze a payment from eBay managed payments”?

I only ask this question is I get paid daily on eBay and some days are pretty big days so wondering if my bank will ever freeze a payment coming in from eBay.

I appreciate all your replies.

bytor3k · #2 03-08-2021

Quote:

Originally Posted by samspalace

...if my bank will ever freeze a payment coming in from eBay...

The largest single MP deposit I've had so far was around $2500. But that was with MY bank not YOUR bank. And since probably nobody on this forum uses YOUR bank, and can answer you with 100% certainty about YOUR bank's policies, why don't you just ask YOUR bank?

james_112233 · #3 03-09-2021

Are you running a legitimate business ? If you are then you have nothing to worry about. If they freeze you can get it unfreezed.

NatWest called me into the branch many years ago when I was suddenly receiving lots of payments but the manager congratulated me and said everything was fine when I explained what my business was.

Hank · #4 03-09-2021

Without reason no of course they won't. Transactions like this are happening millions of times per day from many sources.

But the bots will have an algorithm to flag up suspect deposits and trigger a manual review, but again, it's always been like that.

Lets remember that Amazon, own websites, etc etc etc have been operating like this for years and years, it's nothing new to them.

rsot · #5 03-09-2021

Quote:

Originally Posted by samspalace

Hi everyone,

This is a general question I have

“Will a bank account freeze a payment from eBay managed payments”?

I only ask this question is I get paid daily on eBay and some days are pretty big days so wondering if my bank will ever freeze a payment coming in from eBay.

I appreciate all your replies.

Maintain good relations with your bank - never drain the account completely dry - have some investment products with them if you can. Your bank is less likely to freeze payment if you are a reliable customer

Hank · #6 03-09-2021

Quote:

Originally Posted by rsot

Maintain good relations with your bank - never drain the account completely dry - have some investment products with them if you can. Your bank is less likely to freeze payment if you are a reliable customer

Don't forget to send the Bank Manager a Christmas card too.

We live in an age where 'good relationships' mean nothing other than acting professionally. I do not maintain 'good relations' because they don't have any branches, its all computer driven. I drain it dry when I want money and I don't have any investment products with them.

This is modern online banking, not Victorian England.

samspalace · #7 03-09-2021

I bank with TSB and today was the largest payment I got which was just under £3.5k and it went through.

I don’t have a business bank account just a basic current account but just curious to know.

I would say I’m a good customer been with them for a while now but my earnings are increasing more and more hence why I wrote this post.

I appreciate all your replies. Thank you.

**SaiJin** · #8 03-09-2021

If your bank has any questions, they'll ask and call you about it.
But it shouldn't be a problem

HurricaneHuntr · #9 03-09-2021

Managed payments are spamming accounts across the country with daily deposits now. The banks already have this factored in, they expect it.

George_Fox · #10 03-09-2021

Quote:

Originally Posted by samspalace

I bank with TSB and today was the largest payment I got which was just under £3.5k and it went through.

I don’t have a business bank account just a basic current account but just curious to know.

I would say I’m a good customer been with them for a while now but my earnings are increasing more and more hence why I wrote this post.

I appreciate all your replies. Thank you.

I'd advise you to get a business account opened for your operation.

If you carry on receiving these sort of payments for a long time, the bank can question you and likely block your account. Them payments are for business purposes so they wont allow it. It's happened to me before.

Just a heads up

samspalace · #11 03-09-2021

Quote:

Originally Posted by George_Fox

I'd advise you to get a business account opened for your operation.

If you carry on receiving these sort of payments for a long time, the bank can question you and likely block your account. Them payments are for business purposes so they wont allow it. It's happened to me before.

Just a heads up

I appreciate the heads up so by the sounds of it might be best to go into my bank and open a business account. Do banks want to know your business and do they want to see your tax registered as well?

I’ve never had a business account so not sure what to expect :/

George_Fox · #12 03-09-2021

Quote:

Originally Posted by samspalace

I appreciate the heads up so by the sounds of it might be best to go into my bank and open a business account. Do banks want to know your business and do they want to see your tax registered as well?

I’ve never had a business account so not sure what to expect :/

To be honest you would need the basic requirements.

The business being registered on the company house.

You would provide your company number, registered address and just a explaining the nature of your business, etc.

Pandoras_box · #13 03-09-2021

Quote:

Originally Posted by samspalace

I bank with TSB and today was the largest payment I got which was just under £3.5k and it went through.

I don’t have a business bank account just a basic current account but just curious to know.

Your chances of getting away with that sort of deposit (even if it's mostly less than £3.5k per day) are exactly 0%
No bank that I know of in the UK is that conspicuously uninvolved.

If you think your eBay account will last, you're better off getting those deposits into a business account.

TSB has a simple business bank account with a debit card and nothing else. You want to go for that.
You'd be allowed to apply as you already have a current account.

It's not every day you get a call from the bank for a chat. Sometimes it's a call to announce a divorce. Don't be a sitting duck.

samspalace · #14 03-09-2021

Quote:

Originally Posted by Pandoras_box

Your chances of getting away with that sort of deposit (even if it's mostly less than £3.5k per day) are exactly 0%
No bank that I know of in the UK is that conspicuously uninvolved.

If you think your eBay account will last, you're better off getting those deposits into a business account.

TSB has a simple business bank account with a debit card and nothing else. You want to go for that.
You'd be allowed to apply as you already have a current account.

It's not every day you get a call from the bank for a chat. Sometimes it's a call to announce a divorce. Don't be a sitting duck.

Will I need to have a good credit score to get a business bank account? I would say at least £5k minimum is going into my current bank account from eBay managed payments at the moment.

Pandoras_box · #15 03-10-2021

Yes, you would need to pass a credit check. Fortunately, the TSB business account suggested has no facilities and therefore is likely going to be an automatic yes for you.