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So I am considering closing my current checking account with Bank of America and opening a new one also with B of A in order to help get control of my Payday Loan Situation.

My question is if I close it now and my 9 payday loans hit the account on 9/30/08 will it be reopened and will I get killed with NSF fees. Has anyone done anything similar with Bank of America.

I am thinking it may be better just to pay the interest as planned and use this next month to properly fight these loans

Thanks

Posted: Fri Sep 26, 2008 12:53 am Subject:

Please read this before closing your bank account due to PDLs: -
IMPORTANT - Read before closing your bank account due to pdl

Pachacutec · Posted: Fri Sep 26, 2008 4:54 am Subject:

Please read the "sticky" regarding closing your account. If you close your account, talk to the manager at your local branch. Chances are very good they've heard the same story from others about PDL's. Make a list of questions you want to ask before you go and make sure to write things down and/or get information in writing from the bank re. your account. Good luck and keep us posted.

Posted: Fri Sep 26, 2008 8:37 am Subject:

Have the manager make the account a deposit only account or a balance hold. This will prevent any debits from coming out of your account. Then close it. This will prevent it from being forced re-opened. Stress to the manager you do not want it to be re-opened by any transaction coming in.

I had a BOA account and this is what worked for me.

Posted: Fri Sep 26, 2008 11:00 am Subject:

I had a BOA account which I closed and opened a new one at another bank. I did get notices that ACH's were attempted against the account, but because it was closed, they did not allow them and also waived the fees. My account was closed almost 2 weeks before any ACH's were attempted though. When I spoke to a rep about the possiblity of it being reopened, they said if the account was closed less than 30 days when the attempts were made, it could be reopened. This didn't happen to me, but I'll pass it along for what it's worth.

Posted: Fri Sep 26, 2008 3:18 pm Subject:

Cntrygirl...I think that is why my manager marked the account Balance Hold so that nothing could come in or out. That way nothing could force it open.

Posted: Mon Sep 29, 2008 5:29 am Subject:

I have an account with BOA and I did not have any problems in closing and opening up a new account.

Ollie3 · Posted: Mon Sep 29, 2008 6:20 am Subject:

I closed mine with BOA and it was never reopened. Make sure you do it with the bank manager and explain your situation. She told me that she would make sure that the account wasnt reopened.

Posted: Sat Oct 11, 2008 4:12 pm Subject:

so i know it was a while ago since we were talking about it, but I tried today to close the account but the woman I spoke with said that if there was an ach debit the account would be reopened. I asked about placing a hard debit hold and she looked at me like I was crazy. She said BOA does not do that because ACH's are agreements and that the Bank could get in trouble. She said all I could do was file a claim. I also asked to talk to the Branch Manager and she said the Manager does not have the power to do that. So I held off on closing the account for now.
Should I proceed with sending out my C&D letters??? Is there anyone @ bank of america I can call????
Should I proceed with

Posted: Sat Oct 11, 2008 4:48 pm Subject: B of A

B of A in my opinion is difficult to work with. I am planning on closing my account with them for the same reason, pdl debits. I hope I dont have the same problem.

Posted: Sat Oct 11, 2008 5:06 pm Subject:

I have another question was your account in good standing when you tried to close it? I have heard they will not close an account that is in the negative. I would go to a different bofa and see if someone else can help you. I am so scared now about closing mine.

Posted: Sat Oct 11, 2008 8:13 pm Subject:

I went to 2 bank of americas and not one would help me. They did dispute some charges and I got some of my money back but my account is still in the red. I made arrangements with the overdraft department. I guess I deserve the difficulty since I did get myself in this mess.

Posted: Wed Oct 15, 2008 7:48 am Subject:

If the account is not o/d, ask the manager to put a "balance hold" on it. This will prevent items from going in/out of the account. Then open a new account. If you have direct deposit, get it switched right now. Get a paper check until the direct deposit starts again. Then close the old BOA account.

Remember, with BOA, the term is Balance Hold. Items will not force it to reopen. This is what I did.

Posted: Wed Oct 15, 2008 7:55 am Subject:

I've heard more negative than possitive things about BOA, don't think I'll ever be opening an account with them anytime soon. Confused

Posted: Wed Oct 15, 2008 8:13 am Subject:

I just did this on my last pay week. Since you posted this some time ago I'm sure you've already made your decision....however if anyone else needed advice about it - I just closed my B of A checking account, opened another B of A checking/savings account the same day. I had explained to the manager exactly what i got myself into. I was advised not to have any activity on my account (if there is anything pending, they can not close the account until that's posted).
I went on a Monday to the bank, opened my new account (kept the same debit card she just transferred it over to my new account #). She transferred all my money to the new account except any amount that was needed to cover what didn't go through yet. I then went to my payroll department and stopped direct deposit to that account and asked for a printed check on that Friday. On Thursday i went back to the bank, by this time everything had posted to the old account and we closed it completely out. On Friday, nothing happened to my old account and I deposited my WHOLE paycheck into my new checking account and now can take things into my own hands. I feel free!!!! The phone calls started today, not harrassing yet but i did e-mail my references that i used and the girls at work to make them aware they may get calls.

Posted: Wed Oct 15, 2008 8:26 am Subject:

They are the worst. Always giving out conflicting information and telling you what they cannot do for you instead of what they can do for you. I have opened two new accounts at another bank and as soon as I am out of this mess (revoking ach debits) I am done with them

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