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Limited accounts + can't log in
 

After almost 2 years the bank I was using noticed that names on paypal transfers and savings account didn't match. They notified paypal and I had my paypal accounts limited and my bank accounts closed. The bank instead of sending me a check for the funds I had they said they sent the money back to paypal (funds were cleared for days).

So I got the limitation email on all my accounts and when I try to log in to any paypal it doesn't even try to log in. I called regarding one account a week ago and the rep unblocked it so I can address the limitation (yea right, more like wait and get my money in 180 days). Yesterday I tried to call again regarding another account but this time the rep said I need to fax over docs and my account will remain none-accessible.

what should I do? Its about 5000 spread between 10 paypal accounts. If I can never access my Paypal what will happen to the funds?

What bank did this?

ally bank...

All eggs in one basket... not good! Spreading doesn't only apply to eb/pp/az

Ally has been questionable for a while now. Some say don't touch them while others have accounts there with no problem. After reading this, they are now permanently on by avoid list.

You're pretty much on ice for 180 days. lucky for you this was pp and not amazon or you would have been deleted & cash confiscated.

Will they release after 180 days? How will I know if I can't even log on and update my bank info. First time I called they allowed me to login and I still can login but when I called in for another account after two weeks they said that I can't have access and if I want to submit documents I will have to do that by fax

call again, get another rep and tell them to start the clock due to the fact that you refuse to provide that info.


If they refuse, get creative with the requested docs

You will likely get access in 180 days to withdraw funds - you can add bank account then.

Was Anyone ever in a similar situation? If so, what was the outcome?

Ally sucks, period. STOP using them people. :smash:

Stealth is more than just Paypal, Amazon and Ebay. I also have Stealth bank accounts. When withdrawals from PP hit my bank I "immediately" transfer funds into another account at the same bank that is NOT associated with PP. I don't want PP reversing the transfer which they have the right to do if your read their TOS.

I then transfer those funds to a completely different bank that has NOTHING to do with ANY stealth activities.

I will write a check from that account or do a Cash withdrawal to get that money out asap. I have seen so many people get reverse charges from PayPal and now the banks are getting more stringent with all this government crap.

Even when all funds are received by my SAFE bank the funds don't sit their long. I invest those funds in other investments. Money in motion tends to stay in motion.

I have bank accounts related to PP with several different banks. As I stated here several times, "don't put all your Eggs in one bank."

Don't do any personal banking at your Stealth PP banks either. No other banking accounts, NO safe deposit boxes, etc... Keep it Stealth.

DTA (Don't Trust Anyone)

To answer your question, yes I've seen your situation happen several times. In 180 days your monies from PP should be available. At that time you will need to ADD new bank accounts to withdraw the funds. I've had PP allow me to add a new account AFTER my account was limited.

Everyone here should learn from this lesson, it can happen to anyone.

I have never heard of a Bank notifying PayPal. But if you have 10 accounts at a single Bank you are crazy. Usually it is some kind of transfer from your bank to a Paypal that shows the mismatching names and limits the PayPal. As to why I always encourage people to keep a significant amount of funds to cover returns/charge backs, fees etc.

Wow! Excellent advice! I learned about Ally the hard way when they closed all of my accounts and made attempts to not release the money I had in all those accounts. Eventually, they couldn't find anything and sent me a check. Ally is horrible and do not use at all cost. Plenty of banks out there.

Well ally is currently holding a bit over a grand. Whenever I contact ally they refer me to LP which is only one person and unfortunately she is rude, unprofessional and unwilling to give any info. She hung up on me once and speaks over me all the time. Any suggestions as to how I should handle this?

Well it has been over 180 days on one of the accounts. I called and they said I need to provide ID and bank statement until I withdraw. Stealth account so can't do.... What are my options?

Your money is gone for good. Paypal contacted your bank and it will take MONTHS for the funds to even get back to Paypal. Even after the funds get back to Paypal, they won't show up in your balance.

Paypal KNOWS the account is stealth. Which is why they KNOW you can't provide an ID. If you send them an ID to match the stealth, you might land yourself in deeper trouble. They are waiting for you to make another move. Just give up on those accounts.

Wow man, this really sucks, sorry to hear it. From now on just withdraw the funds immediately from the bank. This is why I have a huge stack of cash just sitting, I don't trust banks.

This is very true! On all accounts I have sent ID's for, they reject them and put a permanent limitation on them. If the account is stealth and they ask for ID, there is really no hope for reinstatement. If they are not asking for ID, then there can still be a chance to get it reinstated.

not entirely true, i have seen people send in id for a stealth account and be okay

untrue
you have problem with supplying the info in the right way

I think you all are missing the moral of the story. What person seeing somebody with 10 different banks accounts at a single bank isn't going to look for something suspicious? Way Way too many at a single bank. Not to mention that bank probably sent a SAR report to the IRS. Not cool.

You should email your bank if there is a way to email them or write to them and explain your best come up with a plan. Think of new ways to cashout instead of using real banks or prepaid banks even though it might take longer like I have done.

10+ accounts at as single online bank. Like that isn't suspicious to begin with. This person is screwed. I hate to say it but they brought this on themselves by being so careless and ignorant that nothing would happen. Like somebody isn't going to look at an account member why does he have 10 accounts with us? Good luck explaining that one.

@vogeltron, you have quite a few banks to choose from so why would you need to keep 10+ accounts all at one bank?

10 bank accounts at a online only bank is crazy, those accounts are mostly likely for subprime accounts holders. 10 accounts at a brick and mortar bank is not unheard of.

My ex GF has 9 bank accounts, 1 for each kid of hers (5), 1 for her, 1 of her husband, 1 for car payment and insurance (bills), 1 for vacation savings. And this woman has no eBay/paypal account what so ever.

Its not how many bank accounts you have, its how well you use them. If you have a investment plan with the bank, say a 529 college plan or IRA with them, Stock trading portfolio, Loans, they will let you get away with so much more.

dear dear dear rsot!!!!!

READ the damn post correctly please

vogeltron made no such comment.

:doh:

The rsot bot strikes again.

Hmmm, has to be some society we can find.

The Society For Prevention of Cruelty to 'Bots

La Société Pour la Prévention de Cruauté aux Robots

La Sociedad Para Prevención de Crueldad a Robots

sighs

:juggle:

I am afraid SPCB would not work out so good in the US. I would like SPCB be formed in a friender country.

There are lots of business that have multiple accounts. I called one of my banks and explained that I run an online business and I prefer to use different accounts for payment methods in case I am ever the victim of fraud I will know exactly where it came from.

They told me that's no problem at all, opened me up 10 accounts on the spot and told me I could have a hundred accounts and it wouldn't be a problem, the guy was so cool that I talked to, he told me they have a customer with over 100 accounts for similar reasons.

If you have a family, it's very common to have savings accounts for your children. I find nothing wrong with having 1 checking and 4 or 5 savings accounts with a bank. I have accounts with 7 different banks/credit unions and at least 4 accounts with each, up to 10 with some.

You're digging way too much into it. Banks care about your money. If you've been a customer for several years and they're making money off of you, they're going to try and secure your business, not cause you problems.

Maybe you're right and I'll get screwed one day, but I've been doing this for a few years and no roadblocks in this regard.

This situation with Ally bank is very unusual, one of the few instances I've heard of this happening, and I'm very grateful for the info so that I can avoid them.

Thanks OP for sharing your experience.

Ally Bank has been trouble for some people accepting deposits with mismatch names for some time now. It seems a hit or miss with, some people report bad news and others have reported they are OK.

I am trying to say is that, there are much better banks out there than Ally.

You can open many accounts at a bank, that's not the problem.

However, depending how much money comes in/out, eventually somebody will get to review those accounts. If you are moving hundreds of thousands a year, I assure you it will trigger a manual review.

Banks will either request more info about the money, or outright close you down ( they don't need to give you reason when they shut you down ). Once they consider you "high risk", you get the boot.

The good news is, there are several banks to choose from.

There may not be a release of monies

Not usually under those types of circumstances.

Unless the OP gets a formal parting of the ways email, those funds are held.

Bear in mind he has to reply to their request for ID too.

It's a gray area and not a 'likely' at all.

:peace:

The problem is usually a combination of 5+ accounts at the same bank, multiple with 0 balances, quickly withdrawing ALL deposits out the account constantly on top of mismatch deposits.

This just looks awful if the risk department investigates the account holders activities.

If each account had 5K each in there, I doubt they would be as quick to shut you down.

Decent idea to keep 1-2k in each account - not only for security but also to avoid monthly fees on the account. Many accounts have a base minimum that allows for avoiding fees.

You are talking about business accounts. At least in my state you have to provide a DBA or record showing you registered to collect sales tax with the state etc. I will go on record saying if you have 10 personal accounts at a bank good luck explaining that one. I understand kids and what not but good luck explaining the PayPal transfers to John Doe for every single account. I do I agree however you are probably better off having more savings accounts than checking accounts at a bank. That is much more credible. But if you are at a conservative bank that does not mean they will not file a SAR report. I do agree though business accounts are treated much differently at almost every bank than personal ones.

If they file a SAR report will I be notified at all? For all I know I could have a dozen floating around out there...

Hell no. Entire idea is to file discreetly.

Are you unfamiliar with banking regulations?

If so, learn them very quickly.

:peace: