bank account just locked

bluegrass1 · #1 03-23-2016

I was told this morning that my bank account has been closed and for me to contact he fraud dept . If asked about the mismatched names on the incoming deposites what is a good answer ?

rsot · #2 03-23-2016

1st set of qs: How much cash did you have coming through this account? How frequently? How much did you leave in there at all times? Any overdraft/negative activity?

spindoctor · #3 03-23-2016

Which bank was it?

bluegrass1 · #4 03-23-2016

maybe 1000-1500 per month leave 800-900 at all times no oberdraft or neg

unklol · #5 03-23-2016

which bank was it again ?

bluegrass1 · #6 03-23-2016

Bank finally called me back said it was becase I was having funds sent into my account with different names on the payment . the name on the payment should be my name not someone elses . That my account is being reviewed and they would let me know in a few days if they will release all or any of the funds back to me .. I mean they cant just keep the money can they ? if they don't allow it to my account will the send it back to the different pp accounts ? Hate this crap one hit after another

MM78 · #7 03-23-2016

I once told my bank who questioned me the following, "I consult for someone, he pays me via PayPal, that's why the name does not match my name".

bluegrass1 · #8 03-23-2016

Yea that's kinda what I said I do online work for people and they deposit via pp into my account she replied but It needs to be from them to my name the deposit needs to come in with my name as who to deposit she said one account gets deposit for tom XXXX and that's not your name and I have 5 different savings account ea with different stealth names depositing into it so that didn't help matters ..

bluegrass1 · #9 03-23-2016

they wont even let me talk to the fraud dept said it a internal number and they are mailing me a letter

phaz0rz · #10 03-23-2016

This is why it (literally) pays off to have bank accounts open with multiple institutions. Bank of America closed my accounts around the end of 2015 and it really screwed me up for a while. At the time I had all of my stealth's running through BoA. Since then I've opened multiple business and personal accounts with multiple institutions, but it wasn't easy. I was denied at one bank because BoA reported the account closures to chexsystems, and that will remain on my record with them for like 7 years.

Anyway, about your situation. You won't get the bank account back I can say that for sure. A bank will usually "close" an account and mail out a cashiers check for the balance of any accounts 10 days after notice is given to the account holder. But I've done some research and a bank account never really dies.

Since BoA closed my account I've had one account I wasn't able to add a new bank account to. I withdrew like $40 to the "closed" BoA account attached to the Paypal, and to my delight I got a cashiers check for $40 from BoA a few weeks later. And I still receive account statements for all the account I had with BoA to this day. I just don't have any access to the account, lol.

bluegrass1 · #11 03-23-2016

yea the lady said I don't know if they will let you have the money or return it to the pp accounts that sent it but she was just a cashier at a local branch

phaz0rz · #12 03-23-2016

Unless they haven't accepted the money yet, they wouldn't be able to return it to Paypal since the Paypal account is in anther name.

But if the transfer is still pending they can just deny them..

It's a crappy situation either way but they aren't allowed to just take your money.

bluegrass1 · #13 03-23-2016

Can someone pm me a bank that don't sweat the mismatched problem so much ??

phaz0rz · #14 03-23-2016

None of them sweat it, they just get weary when an account is behaving suspiciously.

Anyway I PM'd you with a better explanation.

ass11078 · #15 03-23-2016

You will get your money even if the return it to your PayPal is still good just get another bank. There are plenty of them that works. Also spread your banks around

Dmshark25 · #16 03-23-2016

What bank did you have this issue with?

I been using BOA for 3 years with no issues, but i have them attached to a business paypal account, so the deposits come in a business name not a personal name.

I think because the deposits are coming in as a business name it never raised flags, and never was asked to open a business bank account either. Each account receives 5K-10 a month , never an issue

bluegrass1 · #17 03-23-2016

Ok glad to hear I don't lose my money I so badly need now ..
Anyone know if having a account closed that is in good standings as far as balances go effect your credit score ? I was planning on buying a house in next couple months and been trying not to drop my score any .I do know some banks will do a hard hit when opening a new account and that will even drop your score

phaz0rz · #18 03-23-2016

^^ All my accounts were attached to business paypal's also DMshark, but they were personal bank accounts.

I asked the manager why my accounts were closed and he was pretty straight forward with me. I wasn't leaving enough money in the accounts, so my accounts were blatantly suspicious. I would have $7k come in across all accounts over the course of a week, then withdraw $6900 Monday morning. Plus, the only transactions on the bank accounts were Paypal deposits and cash withdrawals. I would have closed the accounts too if I were them.

These days I'm much more diversified. I'm always sure to swipe all of my debit cards on random purchases 10 times per month and leave a few $k in my accounts. This way my accounts look more like those of an "average joe."

The key to avoiding account closures is to keep your bank account looking like any other normal bank account. Make purchases, pay bills, save money, etc..

bluegrass1 · #19 03-23-2016

Yea and that's about how it was going I was needing the money to continue to restock so it was 500 in 450 out same week

bluegrass1 · #20 03-23-2016

I did have one main checking account attached and I did pay tons of bills write checks save money it was the savings accounts i must have messed up somewhere to trigger this . Yea lady at local branch said she sees my account as closed while the fraud dept says under review so i am sure its all said and done there

bluegrass1 · #21 03-23-2016

Quote:

Originally Posted by Dmshark25

What bank did you have this issue with?

I been using BOA for 3 years with no issues, but i have them attached to a business paypal account, so the deposits come in a business name not a personal name.

I think because the deposits are coming in as a business name it never raised flags, and never was asked to open a business bank account either. Each account receives 5K-10 a month , never an issue

you only use one bank and one pp at that bank rite no sub accounts

Dmshark25 · #22 03-23-2016

3 checking accounts 3 paypal business accounts