Closing a checking account

ohbaughns

Certain financial institutions have their own rules about closing accounts or changing account numbers. Paper checks for instance could possibly still get through. However, it is not very common for a bank to let those slip through. This is something new to me. They're usually known for just stamping the back of the check as "account closed-cannot process".

Are you currently negative? What is the reason for wanting to close the account?

Regards
Mike

Yes - I have heard of that before - my sister had a checking account that she closed and there were ACH's that payday loan companies kept on putting thru and they were re-opening her account and she accumulated over 1,000 dollars in fees. she also opened another bank account with the same bank and they took from that account to pay off fees.

Like Mikey said, different banks have different rules. The bank I work at and do my banking at will allow you to freeze the account and absolutely nothing can go through. It does depend on what kind of freeze you put on the account. At my bank we have to write a message saying what type of freeze needs to be placed (examples: ALLOW CREDITS NO DEBITS, ALLOW CHECKS, NO ACHS...etc). Also if I were to close the account it would officaily be closed the day I did and nothing will go through. Some banks have a rule that if you close your account and items try to go through within 30 days of it being closed it will automatically reopen the account. They have this rule because people may want their account closed but they might forget about a check they had written so instead of sending the check back it reopens the account. In a way they feel like they are looking out for the customer. The rules also depend on your account situation, is the customer negative...if so the account cannot be closed until it reaches a positive balance...or until they charge it off.

ohbaughns,
The fact that your bank said putting a freeze on your account will do the same does not make sense to me...what would be the point of putting the freeze on then. You may want to double check with the branch manager and verify what the freeze stops...does it only pertain to ACH's Are you trying to stop ACH transactions or checks.

Along with what PinkLady stated, the rep will ask you what checks #'s you'll want to pass. Everything else will come back as account closed, that is if you just change your account number. Those checks that you allow will be drawn off your new account, without letting the check casher aware of any changes.

I would recommend calling your financial institution again, and ask what avenues are possible for you, in your situation.

Regards-
Mike

I need the laws for lending to me in the state of ohio? Can anyone send to me ??

Ohio
Ohio Rev. Code Ann. ???? 1315.35 et seq.

I closed my bank account immediately. All they did was ask if I had any outstanding checks or debit card purchases and I didn't, so they emptied my account. I have never heard of a bank waiting 30 days or even reopening an account after it was closed.

I guess I need to go to the branch manager and get this clarified. I need to get this done soon so that I can start to make some arrangements with the PDL companies(storefront). Also I have not gotten any response from a credit counsultant since I filled out the consultation form. Can this be checked? Thanks in advance.

Jim

ohbaughns

There is the number of the customer care in the left side of the screen. Call them and ask about your status. Have you checked your voicemails in case he has left any message if you were unavailable?

I do not know what state you live in but I live in arizona and I deal with Bank of America and I just spoke to them about the ACH's that are comming out of my account. I was told they would freeze my account for as long as I needed to get things corrected.

I too am in the same boat. I closed my checking account. A week later I get notice that the account is $900+ in the hole. I still have been trying to get this mess cleared up. I opened another one with the same institution, however they have not taken money from the new one to cover the old. I hoping that does not happen.

It all depends what state you live in I believe but, my suggestion to you is that you work with your bank in regards to having both checking accounts with them so they do not decide to one day debit one for the other! Usually if you work out some arrangments with them they will not touch your other account.

I live in Ohio. I've been dealing with the branch manager that originally closed the account. It has been one big mess ever since.

I lived in Ohio also but now I am in arizona. My sister had the same problem and dealt with the branch manager she had an account that got charged over $1,000 because of payday loan co. taking monies out they kept on re-opening her account. she opened a new one with the same bank and then they took money out of that account to pay for the closed account.

I just had to close my account not because of the same reasons, but simalar. My bank was very nice, and did everything over the phone with me(i've been with them for 8 yrs) and then referred me to the "posting rejects" department. I have to call the posting reject department everyday for a week to yeah or nay what has come in, then whatever I ok them to pay, they will pay out of my new account# without the payee being any the wiser. Ask your bank if you can do this that way you will not get hit with charges for bouncing something that should have been paid.