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Question about closing checking account?

Date: Fri, 04/03/2009 - 04:14

Submitted by lubelhor
on Fri, 04/03/2009 - 04:14

Posts: 13 Credits: [Donate]

Total Replies: 9


I was planning to close my checking account today, but I have a $20 check that hasn't cleared yet. My PDL's are all due on Thursday. If I don't close it today, I can't get my ACH revoke letters out in order to give a 3 day notice. What should I do??


Have you talked to your bank? Usually banks can be understanding about this kind of issue and can be willing to work with you.


lrhall41

Submitted by sdchargers_63 on Fri, 04/03/2009 - 04:52

( Posts: 1798 | Credits: )


A $20 check would not stop me from securing my bank account. Contact the person you wrote the check to and explain your account is closed due to fraud and pay them another way as suggested above. If your account remains unsecure it will cost you alot more than $20 in fees if the PDL's come through. This would be a no brainer for me but you do what you are comfortable with.


lrhall41

Submitted by kfstaff24 on Fri, 04/03/2009 - 06:38

( Posts: 1448 | Credits: )


Ok, I was able to get the $20 check and pay them cash. Now I need to get to the bank and close my account. My bank will not process any ACH withdrawals after 24 hours of closing account. They said anything after 24 hours would be returned as "account closed". If my loans are due on Thursday 4-9-09, (they will come out of account on Friday morning) when is the last possible day that I can fax my ACH revoke letters to them. I want to wait as long as I can, but yet give the 3 day notice. Is it 3 days before withdrwal date or 3 days including the due date? Thanks!!


lrhall41

Submitted by on Fri, 04/03/2009 - 09:34

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Ok, I was able to get the $20 check and pay them cash. Now I need to get to the bank and close my account. My bank will not process any ACH withdrawals after 24 hours of closing account. They said anything after 24 hours would be returned as "account closed". If my loans are due on Thursday 4-9-09, (they will come out of account on Friday morning) when is the last possible day that I can fax my ACH revoke letters to them. I want to wait as long as I can, but yet give the 3 day notice. Is it 3 days before withdrwal date or 3 days including the due date? Thanks!!


lrhall41

Submitted by on Fri, 04/03/2009 - 10:01

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The law reads..

Quote:

Consumer's right to stop payment--(1) Notice. A consumer may stop payment of a preauthorized electronic fund transfer from the consumer's account by notifying the financial institution orally or in writing at least three business days before the scheduled date of the transfer.



Once your account is closed for 24 hours then fire off the letters.


lrhall41

Submitted by nohiogal on Fri, 04/03/2009 - 10:21

( Posts: 2582 | Credits: )