Forum

bank account just locked
 

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 ?

Re: bank account just locked
 

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?

Re: bank account just locked
 

Which bank was it?

Re: bank account just locked
 

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

Re: bank account just locked
 

which bank was it again ?

Re: bank account just locked
 

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

Re: bank account just locked
 

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".

Re: bank account just locked
 

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 ..

Re: bank account just locked
 

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

Re: bank account just locked
 

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.

Re: bank account just locked
 

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

Re: bank account just locked
 

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.

Re: bank account just locked
 

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

Re: bank account just locked
 

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

Anyway I PM'd you with a better explanation.

Re: bank account just locked
 

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

Re: bank account just locked
 

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

Re: bank account just locked
 

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

Re: bank account just locked
 

^^ 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..

Re: bank account just locked
 

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

Re: bank account just locked
 

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

Re: bank account just locked
 

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

Re: bank account just locked
 

3 checking accounts 3 paypal business accounts

Re: bank account just locked
 

same bank?

Re: bank account just locked
 

Tell the *******s it is NONE OF THEIR BUSINESS what name is on the damn deposits. Before I went stealth I went to my bank and said I had several partners and money would be deposited in a bunch of different names and they said they didn't care what name was on the deposits.

Re: bank account just locked
 

He is referring to Bank of America.

Re: bank account just locked
 

What bank is involved?

(Reading off cell phone so not read rest of thread)

:typing:

Re: bank account just locked
 

All banks have different policies but most don't mind mismatched deposits.

Going in and being an @sshole isn't going to get you anywhere at all though.. :noidea:

Re: bank account just locked
 

Business named deposits from paypal are a lot easier to deal with than personal names. I've been locked out of TD bank and US Bank. US bank mainly because of opening and closing so many accounts (I don't like to have a bank account lingering around collecting fees not connected to a stealth or linked to a dead stealth). If there is EVER an issue, you can just get a DBA and tell the bank "sorry I forgot to add my DBA to the account". I'm sure if you're doing said volume you do have at least 1 llc in which you claim taxes/run your business. You can apply for as many DBA's for that LLC as you want. Everything is legal and Kosher.

Re: bank account just locked
 

You know that might make you feel great. But you run a big risk of putting the very person who might get held funds released right off.

Not something to chance.

:deadhorse:

Re: bank account just locked
 

Yeah like GreenBean said... don't do that....(in the U.S.) legally speaking, they can hold the funds until the person the funds were to be "deposited to" comes in and attaches their identity to the account with an ID and signature (this coming from TD bank staff).

Be nice to them, they will help you. Banks are actually a lot easier to deal with than, say...well I'm not gonna even mention the merchant processor we all hate.

Re: bank account just locked
 

Mannn... I hope this doesn't become an issue in the future. Maybe i don't recall correctly or i didn't visit the forums frequently enough but it seems like these threads are popping up more frequently.

Re: bank account just locked
 

Nothing to worry over, this has been the same for years nothing changed.

These banking issues are mostly due to opening 3+ accounts with a bank that you never have used before and opening all accounts at the same time or within a short period.

And than all new bank accounts you opened are all receiving nice sized deposits right away and each in different names.

This activity raises flags. Its best to start with a bank that you already use , if you have history with a bank than you wont have these problems.

If you use a new bank start with one account and dont receive huge deposits the first month. Build a good history with the bank, than slowly increase bank accounts

Its always good to open accounts with different banks, and if your new to the bank just open 1-2 accounts and go slow at first.

Re: bank account just locked
 

OP - youve been asked several times - what bank is this? Please let us all know so we know to avoid it. Youre asking for advice - you can provide it as well.

Re: bank account just locked
 

I don't think OP will tell us, for whatever reason.

Doesn't much matter though. All banks close accounts for the same reasons...

Re: bank account just locked
 

this happened to me only once. I said it was a business name when questioned but it looked like a regular name eg. fanny mae, not like oomp inc. It did not go down well! fortunately it was a test withdrawal of a couple of pounds only. This was not a main bank though, not well known one.

how about saying you bought the paypal acc? prob a bad reason.

any other ones?

relatives paypal?

Re: bank account just locked
 

I was told not to share bank from member who told me about it ,and I am sure I was the one at fault My wife went to open a new account with same bank and messed up and used same email I used to open mine long ago I figure this triggered the whole mess seeing it was the day before mine got hit

Re: bank account just locked
 

Not panic mode yet....

If bank accounts are not made in an way to placate the bank, incorrect use can see the bank in question decide to take steps to protect itself.

Keep in mind,Loopie, this is a game. We need to play the way the bank not only wants but expects. Creating variables does not work with banks..

:typing:

Re: bank account just locked
 

Ah. Forget everything I've said up to this point about why your account was possibly closed, because that's definitely the culprit.

Your wife using the same email triggered a manual review of your account, and they didn't like what they saw when they reviewed it. R.I.P. Your bank account!

Re: bank account just locked
 

Linking principles :(

Re: bank account just locked
 

Hey man, relax.