Bank Frozen all funds asking for following information, any help/info please

[ukguy123]

Hi guys!


So everything has been fine untill recently I have been using my personal account for business for over a year, tried to make a payment yesterday which obviously flagged up my account.

Payment was reversed and cancelled and shortly after I rang the bank to question why it was reversed they stated my account has been frozen and all funds (high amount) held they want to know what are these inwards paypal deposits and why are they coming under the name S****n C****w, the reasons for this is obviously I am using it to sell goods online (reason for the paypal deposits) and I am using stealth but what would I even think to say to the bank, should I just tell them the truth?

So confused and don't know what to do, trying to contact lawyers!

[Urinbits]

This happened to me with Starling bank. Basically I just told them I don't like sharing my personal info online hence the different name. Had to send them screenshots of the paypal and ebay items I was selling and then they just closed my account returning funds to the sender. Problem is, the sender (PP) doesn't accept payments to the account it has sent money to you from. So this bounced back to Starling and after a few emails explaining this to them they asked for an account in my real name and asked for proof of ownership of this account which I provided and a week later their finance team sent me the balance. Took 2/3 weeks total to sort but was fine in the end. Not sure how a high street bank would handle the case though. Might be more strict.

[ukguy123]

Thank you so much for your reply, I understand everything what you said but One thing is how and what did you show the bank to proof you have ownership of the Paypal account

[ukguy123]

Originally Posted by Urinbits

So this bounced back to Starling and after a few emails explaining this to them they asked for an account in my real name and asked for proof of ownership of this account which I provided and a week later their finance team sent me the balance. Took 2/3 weeks total to sort but was fine in the end. Not sure how a high street bank would handle the case though. Might be more strict.

I fully understand that if the bank try to send the money back to the paypal which has a different name it won't work right, so you said they asked you for an account in your real name and proof of ownership which you provided, do you mean you than gave them details of your new paypal account with the correct name and sent you the balance there to the new Paypal account? I didn't know the banks are able to do that as in send the money back to another paypal account what details did you give them to do that.

[blueuk]

Originally Posted by ukguy123

Hi guys!


So everything has been fine untill recently I have been using my personal account for business for over a year, tried to make a payment yesterday which obviously flagged up my account.

Payment was reversed and cancelled and shortly after I rang the bank to question why it was reversed they stated my account has been frozen and all funds (high amount) held they want to know what are these inwards paypal deposits and why are they coming under the name S****n C****w, the reasons for this is obviously I am using it to sell goods online (reason for the paypal deposits) and I am using stealth but what would I even think to say to the bank, should I just tell them the truth?

So confused and don't know what to do, trying to contact lawyers!

When you say high amount...how much are we talking? As my advise will differ depending on how much.

Wasn't Natwest or Virgin was it?

[ukguy123]

Originally Posted by blueuk

When you say high amount...how much are we talking? As my advise will differ depending on how much.

Wasn't Natwest or Virgin was it?

in the account now is 70k, last two recent withdrawels were 10k and 15k in the space of 12 days, and no none of them metro.

[Bradd]

What bank was it

[ukguy123]

metro bank

[james_112233]

Originally Posted by ukguy123

I fully understand that if the bank try to send the money back to the paypal which has a different name it won't work right, so you said they asked you for an account in your real name and proof of ownership which you provided, do you mean you than gave them details of your new paypal account with the correct name and sent you the balance there to the new Paypal account? I didn't know the banks are able to do that as in send the money back to another paypal account what details did you give them to do that.

I think he means he provided them with a different bank account that is in his name and they transferred it there.

This is why stealth terrifies me.

How much is too much ? and if all banks crack down on stealth, it's game over unless you open a stealth account in your real name.

[ukguy123]

my only thought is to either tell them its me and I don't like to share my personal information online or tell them I brought the account from this (name on the pp) guy and now I am using it, he's left the country.

Than on top of which ever I say I provide the shopify (website) transactions the paypal transactions aswell as withdrawels to the bank in question and download the the statement summary on my couriers to show parcels sent aswell as the invoices (the name on this is my real name, which makes me think won't they think why is this guy using a different name on paypal but not everywhere else if his worry is using his own personal information online? should I change the name on these

but I don't know myself if it will work as its a huge amount

do note on the account in question there is no payments to invoices or postage as I do this on another bank account.

The problem probably lies in the fact a personal account was used to receive those funds in that amount, and payments being made outwards. They would want you to open a business bank account or declare you are a sole trader etc...I'm sure there are ways to justify different names.

There are people on the forum doing 100's of thousands, but they definitely have business bank accounts i believe.

[ukguy123]

Originally Posted by dbhana121

The problem probably lies in the fact a personal account was used to receive those funds in that amount, and payments being made outwards. They would want you to open a business bank account or declare you are a sole trader etc...I'm sure there are ways to justify different names.

There are people on the forum doing 100's of thousands, but they definitely have business bank accounts i believe.

I do have a business account but with another account connected to a limited company, and maybe not sure if I want to involve that in anyway to this account incase any further problems, that business account was connected to a stealth sometime ago untill I had issues with Paypal, and than it has only been customers paying for stock wholesale.

[james_112233]

Let me know how you wriggle out of this.

After reading your story I plan on sending funds to a different bank and account just to keep the bank accounts associated with my stealths with a low balance.

I think the fact you had 70k sitting their made a few people curious so they had a closer look.

[ukguy123]

Originally Posted by james_112233

Let me know how you wriggle out of this.

After reading your story I plan on sending funds to a different bank and account just to keep the bank accounts associated with my stealths with a low balance.

I think the fact you had 70k sitting their made a few people curious so they had a closer look.

will do mate, and yes probably wiser lol. What would you do if you were in my shoes? Not going to hold you for anything lol

[ukguy123]

would it be better to say you brought this account from the pp account owner and now hes out the country but you use and have full control of the account or it is myself and I have been a victim of online hacking before so I use an alius where and when possible hence the name on the Paypal. (there is also a fair amount in Paypal the last thing I need is for them to return to sender and Paypal flags up and limits everything lol)

[ukguy123]

Any other help/experience would be greatly appreciated

[james_112233]

You are selling legitimate products right ? Just show the bank invoices for your products, tracking numbers, positive feedback etc and everything and tell them you had to create an account in an alias to bypass ebay/paypal policies as you were suspended for something really petty. Just be frank and honest. It's legitimate income at the end of the day. Everyone has been paid what you owe (fees etc) Lying will only dig a bigger hole in my opinion.

[blueuk]

Originally Posted by james_112233

You are selling legitimate products right ? Just show the bank invoices for your products, tracking numbers, positive feedback etc and everything and tell them you had to create an account in an alias to bypass ebay/paypal policies as you were suspended for something really petty. Just be frank and honest. It's legitimate income at the end of the day. Everyone has been paid what you owe (fees etc) Lying will only dig a bigger hole in my opinion.

Bank isn't going to like that though.

I think best option is to tell the bank yes you're running a business from your personal account (they already know that) and you'd like the option to open a business account.

I personally would be going down the route that you bought a business with an existing paypal / ebay account and the name of the business is Roger Jones. You operate as a sole trader.

Best scenario as i see it is they give you a cheque for the balance and close the account. Worst case would be they return the funds to PayPal... for them to do what they like with.

[JamesNorth101]

Originally Posted by ukguy123

in the account now is 70k, last two recent withdrawels were 10k and 15k in the space of 12 days, and no none of them metro.

Wow... that was a lot. Really need to be using a business bank account for that sort of volume in such a short time.

What I would do is upgrade the PayPal accounts both to business and then you can be 'doing business as' if they insit on seeing all the PayPal details. Ideally you would have done that at the start though

There is nothing against running a business using a personal bank account, but it does make banks sit up and take noticed. I would at the same time talk to them about opening a business account with them

[ukguy123]

I was just going to state that a year ago I purchased an online business that consisted of the ebay and Paypal account, I continued to use that same Paypal account with the ebay as that was the business itself and If I had made a new Paypal it would not allow me to continue with the same Ebay business hence there would be no point in me purchasing the business in the start, I am currently trading under (name on paypal account)

aswell as supplying them 30 days of paypal transactions/screenshot of withdrawels from paypal into my metro account/tracking showing items delivered/invoices for goods sold/screenshot of shopify charges as they were bing taken out from my metro account

what are your thoughts on this, thanks for everyones help!

[james_112233]

Originally Posted by ukguy123

I was just going to state that a year ago I purchased an online business that consisted of the ebay and Paypal account, I continued to use that same Paypal account with the ebay as that was the business itself and If I had made a new Paypal it would not allow me to continue with the same Ebay business hence there would be no point in me purchasing the business in the start, I am currently trading under (name on paypal account)

aswell as supplying them 30 days of paypal transactions/screenshot of withdrawels from paypal into my metro account/tracking showing items delivered/invoices for goods sold/screenshot of shopify charges as they were bing taken out from my metro account

what are your thoughts on this, thanks for everyones help!

Sounds legit to me.

May be also state you are keen on upgrading to a business account as well etc.

Let us know how it goes!

[ukguy123]

will do! Thanks again to everyone Fingers crossed now