how many bounce checks does it take to close your account

Usually they give you between 30-45 days to bring your account current. If at that time you are not current, They will close your account"with cause". they will report you to chex at that point. At least that is what my experience was at WAMU. Thank goodness I was able to bring my account current. I closed it and reopened a new account else where.

I would second what kash said....btw, the bank looooves fee income but they do want the account brought back in the black as kash mentioned.

so they actually like when we bounce stuff?? Good Lord!

I work for one...and fee income is part of the "monthly" reporting if you can believe it. Thats why they usually post larger items first...ever notice that?

BUT, in turn they do not want to report overdrawn account every month either so while they are rolling in the dough ($500 in your case) they also want the account brought current. :shock:

No they dont. They make money from the fees, but they want people to keep their accounts in good standing. They don't want to lose customers. I would assume they make more money having viable customers than accounts that are overdrawn.
You do not want to be reported to Chex. You remain on that for 5 years.

on your coattails kash! :lol:

Always welcome to follow me. I usually am following you.

I can bring it current, I was really afraid they would close it because of me bouncing checks-- period. So, they won't close it unless I stay in the negative then?

Usually that is the case. Some banks will close an account if there are too many bounced checks. They see it as abuse of the account. They will report you to chex for that also.

Sometimes the bank will decide that you bounce too many checks and close the account. It really all depends on the bank, what their current situation is (if they are trying to get more accounts, or trying to get rid of bad accounts), and how often you bounce a check.

I'd say if you've bounced more then 5 checks in the last 2 months, you could be in danger of losing your bank account. Also, when they do a close like this, they do report to Chexsystems for account abuse.

ok so if they close it, what happens when the payday loans come thru? I was told by my bank if I closed it and they came through it would force it back open?

Then you can not close it.You will be hit with a lot of NSF fees.You need to go into the bank and talk with the branch manager about putting a hardbloak on all ACH debits. Do not take no for an answer. You need the bank to do this.

Listen to kash. If you are unable to close your account due to it being in the negative, they will need to put a hard debit block on it so NOTHING goes through and no more NSF fees will accumulate. Is it the pdls hitting it that's causing these NSF fees?

With my old bank, when you were overdrawn for 45 days they closed the account and started turning everything away...of course I am now liable for those fees.

And that sucks. :evil:

If YOU close it, then yes, the ach's will force it back open.

If the BANK closes it, because of too many nsf's or whatever, nothing will ever go through it again.

yes its because of the PDLS.

lren, then you need to do SOMETHING. As kash posted, did you see if you can get a hard debit block on your account so that nothing will hit and cause more NSF fees? Since these are pdls hitting your account, have you done anything to prevent them from hitting it? Have you done anything with your bank account at all? Or are the pdls just continuing to hit it and being rejected because it's negative and then the bank adds NSF fees?

Who said not to close your account?? And why not? I was told the opposite on here. I was told it best to close the account before the PDL's hit. I'm confused!!!

I had a horrible experience at Wachovia. I wanted to close the account but because a $10 transaction was pending to clear the next day they wouldn't let me close it. I then specifically asked that all ACH debits be blocked. Well you guessed the PDL's came in & Wachovia kept charging me & charging me nsf. They denied all the ACH payments but charged me over $1000 in nsf fees until they finally closed my account. I was lucky that I was able to open an account at Wamu & another at Bank of America & I must not of been in the system. My husband then (never learned) took some PDL's on the WAMU account but I closed that account & they did not re-open it or charge me any fees. Depends on the bank. But I am keeping my Bank of AMerica & NEVER taking another PDL even if I have to eat peanut butter & jelly. We finally learned our lesson.

pandora-Thats too bad to hear because I had just the opposite experience with Wachovia. Asked my account to be closed, placed a hard debit block so the account wouldnt reopen with any pending ACH debits and case closed.

OH I just am CONFUSED! I bank for JP MOrgan Chase. We have stopped our direct deposit for next pay day. I' numb right now, honestly this entire thing is making so numb! I honestly have the money to pay them back if they will just take payments. I have almost 1200 a month free and clear if I'm not paying fees'. I'm don't even really remember what got us started on taking these dumb things out anyway! Honestly, I have 3 store front loans, Express Payroll, Checksmart, National check cashiers. I could have them paid off in like 2-3 months. I have 3 on-line loans. same thing about 2-3 months I could have them paid off. GOOD LORD. I'm sorry I'm rambling and venting and I'm sooooo mad at myself right now, I just can't think. How long does it take for them to take you to court? If I'm making faithful payments each payday, won't that count for something??? Thanks for "listening" Reny

lren, it's okay! Calm down! You have 3 storefronts and 3 online loans. Correct? You're storefronts we can deal with. I can check to see if they are members of the CFSA and you can invoke the EPP with them. Who are your 3 online loans with? And what state are you in? Do not freak out. It'll be okay. We're all here for the same reason. Okay? You may have already posted this information somewhere else, but I'm asking you here. Who are your online loans with and what state do you reside in?

I'm showing National Check as being a member of the CFSA. I'm not seeing Checksmart. I'm not seeing Express Payroll; however, they may be under a different name. For example, Quik Cash is QC Holdings. I can find out further on those two to see if they have a different "corporate" name and see if they are members of the CFSA.

About invoking the EPP Cannr is talking about - EPP means Extended Payment Plan. CFSA member have to offer this.

But, and this is VERY important, you must ask for it AT LEAST ONE DAY BEFORE your loan is due, or else you won't be eligible.