180 days hold....can I close bank account attached?

[brickswall]

My paypal was limited and 180 days hold hit me, just wondering if I can close the bank account attached?? I don't really know if I will need that account when they release that money...I have read that they will require another one, but I would like to get some advice more before close it. I want to close it because I can get a brand new straight away....regards

[stuckinarut]

It depends what they have done with your account.
Is it now limited, permanently suspended?

If so, you have lost the privilege to remove the bank account.

[brickswall]

Thanks for the reply, have been limited, however I don't want to remove the account from paypal, I want to close the bank account ....not sure if I gonna need it in the future to get my money

[GreenBean]

Think carefully.

If the limited account has funds, how are you going to get them at the end of 180 days?

[brickswall]

Basically that is my question, do they really request another bank account different that the one initially registered to withdraw? or the user will be able to withdraw the money to the initial bank account attached???

[myfriday09]

You would be able to withdraw into whatever bank you want.
If you want to close, go ahead, but have another one to add so you can withdraw to.
I've never been forced to add another bank to withdraw, maybe it's a UK thing?

[GreenBean]

Originally Posted by brickswall

Basically that is my question, do they really request another bank account different that the one initially registered to withdraw? or the user will be able to withdraw the money to the initial bank account attached???

Usually story is you can withdraw to the attached bank account. :D

[mercurial333]

Some banks will automatically re-open the bank account that has been closed, if funds come in.

[Sandy D]

Why close it?

If there is no issues other then waiting on the money just leave it sit.

[GrannyT]

If you close that account (why?) expect further difficulties in getting your money

Obvious really isn't it?

[brickswall]

thanks for your help guys, my bank manager told me that more than 5 bank accounts may trigger some security alerts, my 3 paypal were limited at once, therefore I just wanted to close the bank accounts, get 3 new ones ready to work,and I simply would update the bank account after the 180 days with other bank accounts in order to withdraw....its about timing, I can get and close accounts easily with my bank (Barclays), but no more than 5, while the procedure with other banks is gonna take longer and I'm not sure if they are gonna leave me open 5 accounts at once...

[Sandy D]

Originally Posted by brickswall

thanks for your help guys, my bank manager told me that more than 5 bank accounts may trigger some security alerts, my 3 paypal were limited at once, therefore I just wanted to close the bank accounts, get 3 new ones ready to work,and I simply would update the bank account after the 180 days with other bank accounts in order to withdraw....its about timing, I can get and close accounts easily with my bank (Barclays), but no more than 5, while the procedure with other banks is gonna take longer and I'm not sure if they are gonna leave me open 5 accounts at once...

If you can make up the money then do it, but if you cannot afford to lose that then leave it sit.

Can you open accounts online in the UK? At different banks?

[Elijah]

You can open current accounts online but must wait for your account details/card to be mailed to you. There is no such thing as an online-only current account in the UK, but you can open online-only savings accounts.