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Posted: Thu Mar 15, 2007 3:58 am Subject: Closed bank account

My closed bank account is -$860..I hope they are able to get in touch with these people and return all of their ach debits..Even astro lending that sent me a pif letter still bebited the account..Using that same name..I informed all of them the account was closed so I guess we will see what happens from here..Whoever has been in this situation..What happens from here?

Posted: Thu Mar 15, 2007 4:06 am Subject:

anyone????

Guest · Posted: Thu Mar 15, 2007 6:30 am Subject:

I'm sorry nasdam, I'm not much help as I am in the process of going through what you are right now. I just closed my bank account today, as a matter of fact about a 20 minutes ago and stopped my direct deposit from going through two days ago. All I can say is that you are not alone. I hope things work out for you, at least me writing this will bump ya back up to the top where someone who does know can help you out. Good luck with everything.

Posted: Thu Mar 15, 2007 6:32 am Subject:

Sorry I forgot to sign in before sending the message.

Posted: Thu Mar 15, 2007 6:58 am Subject:

Is the bank planning on investigating the debits to try and credit them? If not, the bank will probably send you to collections and report you to chexsystems. A chexsystems report can make it difficult to get another bank account for 5 years, but it is possible. I've made a list for each state of banks that will still let you open an account.

But if you can avoid this I would try to. Is the account really closed? Most banks don't close negative accounts until they've been that way for 30 days or more. If it's not closed, these companies can keep trying. While they may not get anything, the nsf fees will rack up.

Guest · Posted: Thu Mar 15, 2007 7:40 am Subject:

Goudah I closed it last Friday and I let the pdls know this..they puth the debits through last night..I already opened another account..I mhave the receipt saying account closed..so I guess the bank will just return these debits am I right?

Posted: Thu Mar 15, 2007 7:46 am Subject:

Goudah I closed the account last Friday..the debits went throughlast nigh even after I told these pdls not to..I have a receipt from the bank saying account closed..However I already opened a new account so that chexsystems thing I am not worried about..I sent the bank an email to return the debits and I will not be held liable..what do you think

Posted: Thu Mar 15, 2007 7:55 am Subject:

Goudah do you know if these pdls are not liscensed in Florida they are allowed to lend here.Floridas laws are really strict but do you know if these companies are supposed to be lending in Florida? I have overpaid every last one of them.

Posted: Thu Mar 15, 2007 8:15 am Subject:

No, most banks will force back open an account if ach transactions go through within a certain time frame. You will need to go back down to the bank and fill out the forms to dispute the transactions.

You'd think once you close an account it stays closed, but most banks don't work that way.

Also be aware that if this bank does report you to chexsystems, some banks do "sweeps". If your new bank does sweeps of thier accounts and finds the new chexsystems report, they can and will freeze your new account and not allow you access to your money for 6 to 8 weeks. I don't want to scare you, but you need to be aware of the possibility.

I'm not sure about Florida laws . . . . I just sent an email to the banking dept to geet clarification and I'll post the response as soon as I hear back.

Posted: Thu Mar 15, 2007 8:25 am Subject:

BUT I would think that the the bank should refund for non-sufficient funds..Afterall the account is empty..I wanted to close that bank account for a long time because they have always messed up in the past..Let me know when you get your response about pdls liscensing in Florida

Posted: Thu Mar 15, 2007 8:32 am Subject:

I will . . . And yes, you would think that the bank would be resonsible . . . . You may be lucky and have a good bank, but odds are that the bank will put it all on you. I just want to you to be prepared in case it happens.

My bank did this to me, and even though I had proof that I had revoked authorization for all the pdl's to debit, they didn't care and I was out $700 in nsf fees alone.

Posted: Thu Mar 15, 2007 8:55 am Subject:

Anyone closing an account to stop pdl debits needs to check with their bank and ask them specifically what their policy is for ach transactions that go through after an account is closed.

If you bank does do something like this, there are ways around it. Most of the time they won't suggest these things to you. You need to tell them these companies have a history of continuing to debit people's accounts even after authorization is revoked. They can close your account and keep it closed, they do that when it's them closing the account against your wishes so it is possible, no matter what they tell you. Ask to speak with a manager if they tell you they can't do anything.

If you tell your bank you are worried that fraudulant transactions may occur from these companies (you need to keep and have handy proof that you've revoked authorization with you) then the bank can do some things to stop anything from going through.

Posted: Thu Mar 15, 2007 9:09 am Subject:

Goudah Like I said the only thing I am worried about now is that if this new bank does a sweep..I HAVE HAD the old bank put through stop payments on which I had to pay $30 to do. My argument with them is that they can close the account if they had a problem with me so why cant they keep it close if I told them to..I truthfully told them I had no pending transactions

Posted: Thu Mar 15, 2007 9:14 am Subject:

Pending transactions are different then ach transactions. A transaction is pending when your debit card has been swiped, or a check you wrote has been cashed, but the funds haven't cleared your account yet.

You are totally right. It's not fair that they can close your account on a whim, but you can't close your account and know it will stay closed. But this is burried deep in your account agreement you signed when the account was opened.

If you want to PM or post the name of the new bank I can give you an idea of if they do regular sweeps or not . . . It's not concrete, but the ones that do them the most I know about . . . .

Posted: Thu Mar 15, 2007 9:31 am Subject:

wamu..astro lending just left a message on my voicew mail that they are going to turn my account over to collections lol I have a pif letter from them telling me they will consider my account paid in full..however they still made a debit on the closed account..I don't think they are organised over there..they have soooooo many customers lol..I just faxed the PIF back to them with that area highlighted "consider paid in full" Goudah you are so helpful You and Steelers should make up..I love you all..Steelers was very helpful to me last week

Posted: Thu Mar 15, 2007 9:38 am Subject:

WaMu is pretty good . . . . Odds are on your side that if the account stays open for at least 90 days then you will be safe. Occasionaly they do sweeps, but they haven't been doing them much lately.

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