Bank wont close my acct and let IPDLs charge with NSF fee

Amazing!!! The same thing is happening with me and my bank won't close it either. They told me that I need to have the account in $0 and then they can open another account. ?!? SO when I get paid tomorrow, my whole paycheck is going to go to the NSFs the bank is charging. I asked them if I could make a couple of payments to zero out the account while I had a new one open, but they won't let me.
Help!!!!

Try going to a new bank to open an account before it is too late. And this bank will eventually have to close out the old account, you can deal with that matter when the time comes to deal with it.

I have been fightting with my bank since November - my nsf charges to date are now close to 3000.00. The bank would not close or freeze or block debits because I mde the authorizations! They do not care if most of these companies are illegal. So I can empathize with both of you. What I did was ask my employer for a paper check, and I went to a different bank and opened an account. At least I can pay my bills. My attorney said that he waould handle the bank.

Irish, Bless your heart you have had a time. Stinking Bank of America. LOL KYSIDE38

I am going through the same thing with Bank of America. My account went negative 1300 just in nsf fees and they would not close my account. Now tomarrow I have to give them 1100 or the collection agency has to say i refused to pay, then the bank will take further action.

I just had to say.. BofA worked with me.. they stopped the auto deductions from the PDL I had and did not charge me at all..
so I think it is the person you work with..

Did you send revocation letters to the IPDL to
stop debiting? If so, have you shown those letters
to the bank? There should be some way to stop them
from letting those debits continue to go through.
Have you gone to a supervisor? That is horrible
that they are continuing to rack up charges against
you. Let me know what exactly you have done and
I'll do some research on it. The banks are getting
as bad as the pdl's!

I not only sent them all of the letters that I sent to the ipdls, I e-miled them to the corporate office! They sent me back and e-mail stating that thiswas a legal matter and to consult my attorney, but since I authorized the transaction with the vendor in the first place it was my fault! They did not even care that the places that I was dealing with were illegal! I wigh that I could find the last e-mail that they sent to me. I put it someplace safe and now I can't find it to post - it is a doozy!

I have an account with BOA and I went and told them my account had been phished online and I had put fraud alerts on my credit reports. They closed my account immediatly. try this it might work, anything to get the NSF charges stopped

Here is what I recommend that you all do. It may not be the most legal approach but I bet it does work. Tell the bank that you have "by some strength of the imagination" lost your check book and check card. Then they have no choice but to close your account. Give them one of the best stories you can possibly give them.

"The Dog Down the Street Ran Away With My Checkbook and Has Buried It in The Sewage"

Now if that doesn't work and you don't want to do anything out of the ordinary, I would recommend that you go to another bank and try to open an another account. Most banks will look at checksystems to see if there is anything on there, so you may end up opening a savings account first.

Word of warning for all about Nations Bank/ *BofA*........they work extensively with the well known group of sherman/lvnv/alegis/et al......also, your branch manager should have been human enough to work with youy the first time it happened. What will happen now? They'll keep dinging you & dinging you Been there, done that all during the aftermath of Hurricane Rita.

What state do you live in?

I am going to do some research this weekend on this. I'll let all of you know what I find out. This is horrible! My bank worked right with me to get it closed and another reopened.

You had a decent manager working with you chizhy. Count yer lucky stars, wait this is Texas one only one star to count!

*chuckle*

The FDIC governs the banks. Here's a link to file a complaint: http://www2.fdic.gov/starsmail/index.asp

Sorry moderators. I didn't mean to have an active link on here. Maybe you can fix it for me :)

Chizhy -
I think you are safe posting that link. The TOS of this site states that "Links to government, law and other informative and relevent sites can be kept active." I will leave it.

Several years ago, I had written a couple bad checks before I realized that I didn't have enough money in my account to cover them. I thought the bank would NSF them, but they paid the checks and left me in a negative balance. They charged a $35 overdraft fee for each of the checks and that was it.

After a couple weeks in the negative, they sent me a letter saying that "due to FDIC regulations, we will be forced to close the account if you do not cover these funds," and they gave me 10 days to put money in my account to at least have a zero-balance.

Sure enough, after 10 days they closed my account. Fortunately, they let me sign a payment plan and they gave me 6 months to payoff the amount.

Since the FDIC regulates these banks, they have to follow certain proceedures in order to be insured. One of those procedures is to close an account that may be deemed as a bad asset. After all, if a bank has a number of negative deposit accounts then it really does screw up their books and doesn't reflect the banks true financial position. I would think having a $3000 negative balance, made up of all NSF fees, constitutes a bad asset and your bank would be forced to close the account per FDIC rules.

Like chizhy said, go to the FDIC and fie a complaint. I think they may be interested to know about it.

Ok, here is what I found. These banks are in violation of Regulation E of the FDIC. The consumer can notify the financial institution that transfers by a company are no longer authorized; and
If the consumer notifies the financial institution within two business days after learning of the loss or theft of the access device, the consumer's liability shall not exceed the lesser of $50. I am going to post again with the exact wording taken from the FDIC website. You can copy and paste it into a letter. This bank is as big a crook as the Payday Loan places!!

http://a257.g.akamaitech.net/7/257/2422/11feb20051500/edocket.access.gpo.gov/cfr_2005/janqtr/pdf/12cfr205.6.pdf

Can banks come after you criminally if you have a negative balance and close the account?

I would say that it would depend on the circumstances.

I am saying if your account gets negative because of nSF's and you can't repay and they wouldn't close?

Are the NSF's from unauthorized debits that the bank would not stop?

If you don't make arrangements with the bank to pay the negative balance, they will eventually close the account. And if you still have made no attempt to payback the negative balance, they will turn you over to a collection agency who will then pursue payment.

best thing to do report all your checks and bank cards stolen i had a auto payment on a credit card for a service i cancelled but they still wanted tocharge me for one last month i called the credit card company and told them the cardwas lost they closed the account right then and opened a new one for me and said company never got any more money
as for the nsf report them to fdic nd your state banking commision and attorny general with copys of all coraspondance and even one better get your local tv news in on it about how the bank is ripping you off banks dont want bad publicity and people closing there accounts

I went today and paid my $1100 to the collection agency for all of the NSF charges that BOA charged me because of the IPDL's hitting my account and the bank would not close out the account. Boy did that really hurt handing that kind of money over like that. Hell I have 2 kids to feed and still don't have a job, but I guess its better than going on the CR or even worse. I am still going to file a complaint against BOA and hopefully I can possibly recover something from them. wish me luck...lol

emmmmmmm! traci! *great big hug* Holler if you need help! Okie dokie?

;)

Okay, I am trying it one more time. I went in person today to talk to the manager about refunding my NSF fees on the debits that were not authorized. I have been dealing with this since over a week. I went in person to discuss their position, and he wouldn't even talk to me. The lady that talked to me told me that he would call me after 4 becuase he was making "sales calls" and could not be bothered. I said "WTF!!!" is he a manager or a sales rep, and she said that he was on comission. Now, this is a big a** bank. Not a "mom & pop" business.
So after 4 today I got the call, not from the manager, but from the same lady telling me that he manager could not refund my fees because they havve already done it in the past.
Again, I explained to the lady that these debits were not authorized and that according to fdcpa Regulation E is was not liable for anything over $50 and that I was just asking for a $140 refund. She tells me that it is $50 per incident and since I had 4 incidents the rule didn't apply.
Can you believe these people!!!
I have already filed a complaint with FDCPA and will let you guys know if/when I hear from them.
Thanks.

My bank told me that they can not put my account on credits only with out a court order, funny huh. She said that after 25 days in overdraft that it would go to a collection agency. Imagine that! Something that she did tell me that may benefit you is that you can do an unauthorized ACH form if the some one is debiting your account for the wrong amount. You only agreed to debit the original payment amount, so your not really lying. I have a payday lender doing 3 ACH's on one account. All three small ones add up to the payment, stupid, that is 3 NSF everytime they do it. I completed the form on them and no matter what amount they try to debit, they will get nothing. Goodluck!

Not to be nitpicky, but when we quote laws to a business that is supposed to be following them, we should sound like we know what we're talking about. In other words, we need to have our facts straight in order to impress them. When we start jumbling and inter-mixing the facts, then they know that we really don't know.

Regulation E is not part of the fdcpa. (The FDCPA only applies to debt collectors). Reg E is implemented by the Board of Governors of the Federal Reserve and is packaged as part of the Code of Federal Regulations (CFR). Banks and financial institutions have to follow these laws, which come as regulations A through FF. Each regulation pertains to a different Act authorized by Congress.

Regulation B is the Equal Credit Opportunity Act which says a financial institution may not descriminate against credit applicants. ... Regulation Z is our Truth-In-Lending Act, which says they must properly disclose the apr and other terms on a contract. ... Regulation E happens to deal with electronic funds transfers. ... Of interest to those who sign wage assigments, Regulation AA is where the law comes from that says all wage assignments are voluntary and can be revoked at any time.

All of the Federal Reserve Board regulations can be found here:
http://www.federalreserve.gov/regulations/default.htm

Sorry DebtCruncher, I meant FDIC. I was so upset when I was typing it that I said the wrong thing on the post. When I talked to the bank I said FDIC Regulation E, and still they were not able to "help". me.

It's okay, I'll let you slide on that one. But don't let me catch you quoting the wrong laws again, or else!

The bank is obviously unwilling to do anything, regardless of what laws you throw at them. The best thing you can do is file complaints with the FDIC, AG, BBB, maybe even the Federal Reserve Board (they are like a bank's supreme ruler). One of these places are be bound to intervene and get your money back.

Quote:

They can put an ach block on your account. My bank didn't even tell me this when I asked what I could do to stop the ipdl's from taking money. They can block specific companies too by using their company id number. Most banks charge to same as a stop payment, and you'd have to do it for every dba they have. This is a better option then just a stop payment, although people should be aware that some ipdl's will produce a paper check with no signature required and get the money that way when they are blocked from ach withdrawls.

[quote=goudah2424]They can block specific companies too by using their company id number. Most banks charge to same as a stop payment, and you'd have to do it for every dba they have.[/quote]

This can only be a good option if you plan on paying this back within a couple of days.

Most payday lenders break the repayment into half. That way, if you only have $200 in your account, and need to repay $300, they'll at least get $150...plus their fees. So you would be paying for 2 different stops on an ACH if you went that route.

According to most loan agreements, they can make attempts at anytime after you've defaulted, so you never know when an ACH is going to come through, and your financial institution will need that information.

Regards
Mike

No, if you put a block on the company, not the specific transaction, it won't matter what amount they use. It's a block from the company withdrawing money, its like a stop payment, but not the same thing. They use the companies ID number to block then from access to your account. No matter what amount they use they will be blocked. This is when the companies usually go and produce a paper check with your account info and hit your account that way. That's why it's best to just close the account and open a new one.

Stop payments will stop that specific transaction, but as you said the company can hit you with a different amount so that doesn't really work.

A full ach block will make it so that no ach transactions will be processed on your account. This isn't a good option if you have other things like insurance taken directly out of your account.

Fedupinpa, they definitely have the power to make the account deposit only! There is a form that they have to use and fax it over to have it changed. My bank, which is BoA FINALLY put my account to deposits only after the NSFs mounted to a little over $1000. They even transferred my entire balance of another account I opened into that one. It was a mess but I got them to give me the money back once they accepted the payment plan I had been begging them to put me on but I had to tell them that there is no way I can even have a payment plan if they won't make the account at least deposits only. It can be done but I had to go to my bank at least 5 times to get it resolved. Not all of the managers are knowledgable about this.

HUDiva is right, sometimes you are just getting a lazy or uneducated bank manager. You will probably find that every person you ask at a bank will give you a different answer. But if you know going in what you want and that it is possible, you should be able to get it done.

This is probably obvious, but going in with a bad attitude and already upset is the worst thing you can do. If you are nice and sweet you are more likely to get what you want. I know everyone already knows this, but there've been times that I've been so upset about something I'm sure it showed. In those cases my attitude drastically changes and I can be not so likable . . .

Awards HUDiva an *atta girl*!

;)

Quote:

Your welcome HUDiva!

;)

I was lucky . . . . When I was in the middle of my idpl mess I had just had identlty theft happen to my bank account . . . . So I had been in and out of the bank in the previos month, so all the bank employees knew me. So they were pretty cool about things for the first month. Then the loss prevention dept saw all the nsf fees and put a stop to it.

My point is that it isn't alway the bank managers choice. Sometimes they are overridden by their loss prevetion departments.

My bank won't close mine either, but once the account is in overdraft for 25 days they will send it to collections, unreal, no friends here. they told me i could come in and fill out an unauthorized ACH form and that would stop the pdl from tagging my account. the bank has collected over 1000 in NSF from me so far, they are about as bad as the pdls in this situation, can't win. I took my house and car payment to bring the account up to a positive balance. Will have to catch them up next pay. sad but true

If anyone would really like to embarrass BoA, remind them that they left several webservers wide open & a young, enterprising russian crew hijacked every bit of friggin account & info from them.

SF/Houston/Greenville

Oh wait! was I 'posed to say that?

*chuckle chuckle*

Dang, Tex! When was this?

unnnnnn.....98,99 & one more time in early 00. A *contractor* left 'em open according to their *press release* er damage control effort. Seattle accounts got hit hardest.......

*chuckle*

the crew left the lower balance accounts alone & got after the yuppie's & up......

Well my bank finally closed my account - $2200.00 in the negative and sent it to collections. US bank was no help at all! Their basic response was that it was my fault for giving my account info out and I could not prove fraud. They really did not and would not work with me. If they had I might have been able to stay out of bk, but could have, would have and should have pave the road to hell- I know better now!

I think it is ridiculous that a bank won't cooperate on this, especially if you have been a long time customer. It is nuts that we have to call them and tell them our credit card or check book was stolen. I could have paid off the payday loans with all the NSF fees I have. That is what these idiots don't understand either. I called two of the pdls and told them about pulling multiple debits. I owed one $187, so they pull two debits $75 and $112 Causing me two more NSF fees, I don't see why they think this is to their advantage. They were both returned not paid. That was money that could have eventually went toward paying these idiots off. About 2 more months and I will be out of this mess, can't wait. Thanks to this site, I have kept my sanity through it all. These people could cause a sane person to go crazy.

I know what you mean - because of the multiple debits, my regular bills were also returned and I ended up with no money at all! And owing money to the bank! I told the one bank manager back in November that they are going to be seeing more and more people going through this and that they really should look into what is going on when their customers are floundering in nsf charges and not assume that it is just bad accounting or fraud on the customers' part. The manager said that if you give your account number out the blame is on you unless you have concrete evidence that a fraud has been committed against your account. And you need to provide proof that criminal charges have been filed against the vendor or merchant in order to do this! BS!!