checking account on "deposit only"

Just understand that once you take this action you will be unable to withdrawal any money, it might be a good idea to take out what you need in cash until you are able to resolve the issues you are having with pdl's.

this is actually the begining of the end of PDLs in my life. I am starting the process, and i bank locally in a small town, going there and taking money out in person when i need it is really no big deal. I was just wondering how well banks like to do this for people.

They have always been very accomidating for me, I don't think you'll have any problems.

so when my account is at this status, no one can remove money, correct? if so, if someone tries do i get charged an overdraft fee?

You shouldn't be charged if an attempt is made, but get a clear answer about that from your bank. :) Take good care.

I too bank with a small town bank and they have backed me every step of the way. Good luck and hang in there.

I can't say for sure what the bank will do but if the account is deposit only I don't see how they could charge you under those circumstances. If I am wrong, I am sure that someone will have the correct info for you. You could always call them and ask and then you would know for sure.

I dont think that the bank will charge you if an attempt is made. That is the reason it is put on deposit only in the first place, so these people can not get your money.

Hello, just make sure you have these questions answered by your bank. Everyone here is giving great advice (as always!!) but i had someone at my bank who was quite nasty and I ended up losing a few hundred more to these payday monsters.

so, i had to close my checking account, my bank doesn't do "deposit only", they call that a savings account. so anyone else considering this, check with your bank, you may have to close your account entirely.

mardi did the bank assure you that the ach debits couldn't force your account back open? I know I've read on here that sometimes this can happen and it ends up with huge overdraft charges. Hopefully this isn't the case in your situation, I'd make absolutely sure though that the ach transactions can't force the account back open.


Johnita