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mt bank no go for stealth
 

MT bank is a no go for stealth and mismatched names. They locked my account down requesting my presence. I went in and they wanted affidavits from me and stealth name. I said stealth name is a alias and I have multiple accounts. So I use alias to protect myself and accounts are registered with IRS through ein. They said its fraud and closed accounts. Once pending transfers done I have to go back. Unknown if they cutting me check or cash when they close the accounts out.

MT bank was listed here as a approved, guess not no more. I also have a impression they may just bounce the transfers and close account so Im out of the money. I'm kinda pissed right now

Re: mt bank no go for stealth
 

How much did you transfer?

Re: mt bank no go for stealth
 

4 grand over the last 2 weeks...all small deposits...200 here...200 there...4 accounts total

Re: mt bank no go for stealth
 

How many accounts total and are they business accounts?

Re: mt bank no go for stealth
 

Personal checking accounts and 4 accounts all closed :<

Re: mt bank no go for stealth
 

I think you went through too much too early. 4 grand in two weeks! Story might have been different if you tried smaller amounts.

Re: mt bank no go for stealth
 

I looked into this bank just out of curiosity and I would have guessed it to be fine.

How many accounts did you open at the same time? and you were making miss matched depsoits right into personal savings account?

I am guessing high amount of accounts at one time and large deposits and transfers out of personal savings accounts made the account go under review.

Clearly you can make mismatched deposits because it lasted two weeks and not rejected or a couple days but something caused them to review you accounts.

If my guesses are accurate, Bank of America would have closed accounts with this activity and TD would have reported you to check systems for fraud.

Re: mt bank no go for stealth
 

Ive been using them for 3 years now.
5 Accounts in total about $1k per account per month.
Never had an issue.

Re: mt bank no go for stealth
 

It could make a difference if you opened the accounts online or in store. I wonder which one the OP did.

Re: mt bank no go for stealth
 

I opened the accounts online. Two they were checking not savings. Im gonna call the 1800 necause I stopped in a branch to talk to a manager. I dont think she had a clue.

Re: mt bank no go for stealth
 

I tend to go with the big 4 BOA Chase WF and Citi. It sucks with the maintenance fees but at least you get peace of mind that they have better things to do than mess with your hard earn funds.


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Re: mt bank no go for stealth
 

I always go with the smallest local credit unions and little banks. I dont think you will find one thread about one closing an account on this forum.

Re: mt bank no go for stealth
 

Those little banks and credit unions do value the business a lot and will do a lot for you if you build relationship with them too

Re: mt bank no go for stealth
 

Well **** goes deeper. They haven't decided to keep deposits and give them to me. Or bounce back to paypal. Great since one was a 180 day limited account. I called and offered ein, they refused essentially making it a buisness account.

Re: mt bank no go for stealth
 

How much is the amount?


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Re: mt bank no go for stealth
 

All told abouut 7500 between 4 accounts

Re: mt bank no go for stealth
 

Who is holding your funds now PayPal or MT bank


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Re: mt bank no go for stealth
 

The bank is holding the funds hostage.

Re: mt bank no go for stealth
 

Yes the bank....they wont disclose if they are kicking back the funds or allow me to pull. They are definetly closing my accounts. Thats a fact. They are waiting for pending ach to finalize from paypal to close accounts. Thats all they told me. They wanted id and afidavit from name on the paypal ach transfers which obviously is impossible being stealth names.

Re: mt bank no go for stealth
 

Someone a while back had posted some form you could fill out that "supposedly" would force the bank to release the funds, I remember something having to do with the FDIC or similar. It was posted in the open forum but I can't remember who posted it, I'll see if I can dig it up.

Re: mt bank no go for stealth
 

It should not take them more than a couple of days to finalize it. To be honest 1-2 business day. they don't need the IDs because your not transferring money into anyone else account and that funds coming into your account. These are ACH. I would stay on top of them. I would tell MT bank that these are business ACH from work you have done for people . Be nice about it. Also that your ID should be sufficient. ACH are hard to reserve in general。The bank knows that.


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Re: mt bank no go for stealth
 

Nope I told bank that they are a alias attached to my ein and llc to protect online identity. They said its fraud no matter how you look at it since the alias is not real. Maybe I said it wrong, but the id of a ein is to protect my identity.

Re: mt bank no go for stealth
 

In the future if you ever get questioned, it is for being paid from work you do online. I personally have not had any problems at all but one of the bigger issues that cause a problem consistent miss match name deposits into savings accounts and then constant transfers out. Same goes for personal checking accounts operating business. If you have high volume(and yea, even the small $7500) on personal accounts and then spending the money or pulling fro the ATM rapidly looks suspicious to banks, even big banks.
If your accounts are aged, much less problems. When I open new accounts, I do them in batches. I might open 10-15 online in a day but not use all of them right away and not open more for a few months. Also, four new accounts at one bank is a lot. I suggest opening one checking and one savings or one business checking, one personal and a savings. Then over months add one or two more tops. Spread over multiple small banks helps spread risk of all funds being tied up for any reason.

Another tip is using finical institutes you already do business with. An example is I buy a lot of new vehicles and finance them. I just picked up another and financed with Huntington. As I setup online banking for payments, I also opened a checking and savings account. Because you already have an account, you are instantly approved. This helps me for small paypal accounts because I sell just enough to cover the payments on those.
I do the same thing with credit cards I have. I just open a checking and savings in whatever name the accounts are in. If it is business then business, personal then personal. This has a ton of advantages as well.

Re: mt bank no go for stealth
 

That may be good advice and I appreciate it. But this bank literally said person who is doing ach deposits had to come into bank with id and fill a affidavit authorizing the funds. It was unavoidable.

Re: mt bank no go for stealth
 

Never mention to bank your using alias. All a bank needs to know is those ACH are services rendered. I would next time open accounts up at different banks. Always have a wide range of banks. So in case one gets shut down you have another banking institution. Peter will not tell Paul because the whole reason behind it, banks don't want there customers to be poached. Use BOA, Chase, Wells Fargo, Citi, TD, or any big multi national bank. I stay away from smaller banks because they waste too much time on the small peanuts.MT bank is ridiculous in my opinion. It's really your money and they know that ACH are very hard to reverse. The only thing you can do is be gentleman about the situation and get your funds back. Nothing is more important. Stay away from credit unions and local community banks. Smaller banks are concentrating always small peanuts. Hence them staying small. If The big four ever did that what MT did. Everyone would be hiding cash under there mattresses.


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Re: mt bank no go for stealth
 

They released one account. Sent back all of the pending ach transfers except the ones made it through. They closed account and released funds. Second account still cant release till the cup off coffee on my debit card is clear. then can be closed and paid. Other two all trasfers sent back and closed....:fight::fight:

Re: mt bank no go for stealth
 

If they sent it back to paypal, expect Paypal to put a limitation on the account.

Re: mt bank no go for stealth
 

Ya im preparing for the worst. Just made new accounts to attach if need be.

Re: mt bank no go for stealth
 

this is why i never mess with small banks. BOA, Wells, Chase, and USBank have been great, I run 8 paypal stealth accounts. Not one peep or message from any of them. They leave me alone

Re: mt bank no go for stealth
 

You should do business accounts

Re: mt bank no go for stealth
 

and this is not a small bank the OP is talking about. Not a giant bank but not small. You will not find a single thread of problems with a small bank or credit union on this forum.

Re: mt bank no go for stealth
 

You could have an LLC and just file DBA's for each name on the account from start...