ACH and Bank

Hi Shazzers,
I live in Iowa and have a handful of PDL loans that are all done via the web (online providers). Last week, I closed out my account where the PDL interest/fees were being withdrawn (stayed at same bank, but just new account). When the PDL companies tried to ACH funds, they were sent back - however, now my bank is telling me that if the PDL companies try a 2nd time to ACH money (even though the account is closed), then they were go ahead and proceed and I will then owe the bank. Can this happen? Any suggestions/guidance here would be appreciated. Thank you so much!

This is something I would like to know as well. I am current with all of my loans and have not closed my account at this time. I'm afraid that if I do close my account even after revoking ACH debits or putting a stop on them that they will continue to overdraw my account anyways with the fees.

If you have closed your bank account and revoked ACH debits, then the creditor/CA won't be able to ACH money from your account.

loushan what is the name of your bank?if they do what they stated they are breaking a federal law( the EFTA is a federal law).so please speak to the bank manager about this as that is not right at all.

Did you send the ACH revocation to the PDLs? If not then the bank is not violating the EFTA. In order to break the EFTA the bank would have to allow the charges to go through knowing the the consumer (OP) had revoked ACH.

Get the letters out ASAP!!!!! Take copies to the bank as proof!!