Avoid bank account freezing

Muhammad Talha 123

Aug 31

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How to prevent your bank account from being frozen when doing P2P

Peer-to-peer trading (P2P) has become one of the most popular ways to buy and sell cryptocurrencies in Pakistan and around the world. It is fast, convenient, and allows you to trade directly with other people without relying on intermediaries. But, wow, the biggest nightmare for P2P traders is having their bank account frozen! I've seen many people complaining that after sending or receiving payments, their account gets blocked for "suspicious activity". This not only causes delays but can also mean losing real money.

I will share some practical tips that I learned the hard way to avoid this annoying problem.

✅ 1. Trade only with verified merchants

The first rule to avoid getting burned is to trade with verified merchants on exchange platforms. Always choose those with a verification badge, completion rate above 99%, and positive feedback. I have been burned by new and unverified accounts - they are often linked to fraud or suspicious activities.

✅ 2. Never accept payments from third parties.

One of the main reasons banks freeze accounts is the use of third-party payments. Always confirm that the name on the sender's bank account matches the name of the account on the platform. If the payment comes from someone else, the risk of disputes and fraud increases. Cancel the order immediately if the details do not match – I learned this the hard way!

✅ 3. Use a separate bank account for P2P

To protect your savings, open a dedicated bank account for P2P trading only. So, even if that account is flagged or frozen, your main accounts used for personal and business expenses remain safe. This simple step saved my skin several times.

✅ 4. Keep complete records of transactions

Always keep screenshots of payments, copies of merchant documents, WhatsApp or chat confirmations, and receipts. These records serve as proof in case a dispute arises. If your account is frozen, these documents will be useful for both the bank and legal authorities.

✅ 5. Use neutral payment references

When making or receiving payments, avoid writing terms like "USDT," "Crypto" or "Bitcoin" in the payment reference. Such terms immediately raise red flags with banks. Instead, use neutral and safe terms like "Payment" or "Transfer". Banks love to stick their nose where it doesn't belong!

✅ 6. Stay calm during delays

Sometimes, sellers or buyers take time to confirm transactions. Do not panic and cancel the order immediately, as this may cause unnecessary disputes. I've lost money by acting impulsively! Communicate with the other party first and wait patiently. If the issue persists, contact platform support.

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⚠️ Final word

P2P trading is an excellent way to buy and sell crypto, but it also has its risks. By following these security measures—trading only with verified traders, avoiding third-party payments, keeping records, and using a dedicated account—you can greatly reduce the chances of having your bank account frozen. Always stay alert, document your trades, and trade wisely. The traditional financial system was not made for us; we need to be smarter than they are!

Notice: Includes third-party opinions. Not financial advice. May include sponsored content.