My friend can't trade anymore...

Sorry if this is the wrong forum, I couldn't find any other place for it.
So recently my friend and I just got into Guild Wars. Just about a week ago, we upgraded our trial keys to real player keys and everything was cool. However, just today I wanted to trade my friend a few iron ingots and some cash because he blew it all on dye and it said that his character was not allowed to trade because his account had been made less than 24 hours ago. At first, I thought that he had not played for 24 total hours yet, but then I remembered just the previous day, I had traded him a wand that I didn't need.

Is this a bug, or are we doing something wrong?
It'd be really nice if we could get some help here.
Thanks.

There was a new system implemented in the latest update, but the update also said that accounts made prior to the update would not be effected, so either wait and see and if it continues, there are flaws with the system.

18th of March, Game update Notes:
To combat a growing problem with account fraud, newly created accounts are now restricted from trading with other players within the first 24 hours after account creation. Please see today's Dev Update for more information on this change

That is your problem i think. Link.

May i ask how long ago you traded him the 'wand'?

There was a game patch update made yesterday, March 18th, that went into immediate effect.

For full information on that update, visit http://guildwars.com/support/gameupdates/

or

http://wiki.guildwars.com/wiki/Game_updates


Hope that helps!

-Sonata

Edit: no posts before I submitted, 3 after I hit the enter button. I must type faster !

It was only yesterday at around 5 or 6 PM Pacific time.
Oh and thanks to everyone for answering so quickly. I'll let my friend know about this and tell him to just wait it out.