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Anyone had trouble closing a bank account?
Vanity | 9/29/12 | nully

Posted on 09/29/2012 3:52:32 PM PDT by null and void

Two weeks ago a dear friend of mine decided to file for bankruptcy. As part of gathering the fees she went to her bank (which in the spirit of protecting the guilty, I won't name, let's just call it "Pursue") to close her accounts and get a money order.

She closed out her CD, checking account, savings account and surrendered her ATM/Debit card and Pursue credit card.

This week she gets a notice from Pursue. Not only did they fail to actually close her credit card account, they made an auto-payment to another bank.

Now they want her to send them the money.

That's not going to happen.

It's also not why I'm posting this.

A few months ago I to had occasion to close a couple accounts with my bank "Stagecoach". I've been getting monthly statements showing a 1¢ balance in each.

I haven't bothered to do anything about it, but now I'm starting to wonder:

Are American banks under orders to do all they can to avoid actually closing out accounts?

Is this an effort to camouflage the exodus from the banking system, brought to you by the same people who stop counting someone as unemployed when their unemployment benefits expire?

Or am I just being a nut-job again?


TOPICS: Chit/Chat
KEYWORDS: bankaccount; banks; closebankaccount; vanity
Anyone else have similar experiences?
1 posted on 09/29/2012 3:52:35 PM PDT by null and void
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To: mnehring; COUNTrecount; Nowhere Man; FightThePower!; C. Edmund Wright; jacob allen; Travis McGee; ..

Nut-job Conspiracy Theory Ping!

To get onto The Nut-job Conspiracy Theory Ping List you must threaten to report me to the Mods if I don’t add you to the list...

2 posted on 09/29/2012 3:53:38 PM PDT by null and void (Day 1348 of our ObamaVacation from reality - Obama, a queer and present danger)
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To: null and void

So go withdraw the penny.

I’ve had a 3-cent balance in an account. To the contrary, I’m seeing how long they’ll keep it open. They’ve sent me checks, but cashing them isn’t worth the cost so the cycle continues.


3 posted on 09/29/2012 3:58:25 PM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com)
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To: null and void

I haven’t had that experience personally, but it is the #1 reason why I never set up auto-debit payments for anything. I was offered a small rate decrease in my mortgage if I allowed them to do this, and I refused.

I’m steadily employed, and have worked steadily for over 25 years, and I still know that jobs are lost all the time and the next one could be mine.

Hope it works out for your friend.


4 posted on 09/29/2012 3:59:13 PM PDT by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: null and void

Yes, you are a “nut-job”; however, you are a “nut-job” who lives in Realville.

Up is down, right is wrong, etc....you know the drill.


5 posted on 09/29/2012 3:59:39 PM PDT by NoGrayZone (For evil to triumph it is only necessary for good men to do nothing.)
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To: kearnyirish2

Thank you, I’m sure it will, she’s in good spirits.


6 posted on 09/29/2012 4:00:37 PM PDT by null and void (Day 1348 of our ObamaVacation from reality - Obama, a queer and present danger)
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To: null and void

A few years ago I tried to close a Capital One credit card account and they kept charging me a fee to do so. That kept a balance on the account and open for about three months, repeating the cycle. It took a threat (letter) of legal action to close it.


7 posted on 09/29/2012 4:02:39 PM PDT by RedMDer (https://support.woundedwarriorproject.org/default.aspx?tsid=93destr)
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To: null and void

Yes. I had to close an old trust account of my mother’s at Citi Bank. They gave me a big run around about it. Finally I went in and told them that I was going to write a check for deposit in another bank and I wanted the know the exact amount that was left in her account at that moment so that I could close it. I got the balance and went directly to another bank and deposited a check for that amount in one of her other accounts. Lo and behold, the account is still open and shows a balance of 12 cents. This happened in July. Arrrrrgggggghhhh!


8 posted on 09/29/2012 4:03:40 PM PDT by afraidfortherepublic (Joe Biden is reported to be seeking asylum in a foreign country so he does not have to debate Ryan.)
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To: null and void

I recently closed an account. When I called to close it, the banker told me I would have to come into the bank to do that. I pointed out that, since I had opened the account by phone, I should be able to close it by phone. The banker agreed, but first I would have to wait until all checks and drafts had settled, and the account was zeroed out. That took several days, but I finally got it done. I did get the impression that they didn’t want me to close it, but then, why would they?


9 posted on 09/29/2012 4:04:01 PM PDT by giotto
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To: null and void
Is this an effort to camouflage the exodus from the banking system, brought to you by the same people who stop counting someone as unemployed when their unemployment benefits expire?

Don't know anything about the first part, but unemployment compensation (and whether you receive it, or not) has nothing to do with the way the unemployment rate is calculated.

10 posted on 09/29/2012 4:06:06 PM PDT by 1rudeboy
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To: null and void

When you close an account, ask for a WRITTEN notice .....not email...that it has been closed. I have done this with every account and never had any problem.


11 posted on 09/29/2012 4:07:23 PM PDT by Sacajaweau
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To: kearnyirish2

I don’t believe the card holder can close the auto deduct out. It has to be done on the other end. I believe that’s the law.


12 posted on 09/29/2012 4:07:36 PM PDT by donhunt (Certified and proud "Son of a Bitch".)
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To: null and void

She should have stopped the auto payment before closing the account. Sorry....her fault...not the bank’s.


13 posted on 09/29/2012 4:09:27 PM PDT by Sacajaweau
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To: null and void

I’ve had trouble recently closing credit card accounts. Just wasn’t happy with the modified “rewards” structure. The customer service drone wanted to know why I was leaving the XXXXX “Family” after 12 years. I told her just close the account. She literally tried to psycho analyze me and wanted me to speak with her manager. Unreal.


14 posted on 09/29/2012 4:15:58 PM PDT by rbg81
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To: Sacajaweau

Apparently the other bank is going to refund her money. Go figure.


15 posted on 09/29/2012 4:18:06 PM PDT by null and void (Day 1348 of our ObamaVacation from reality - Obama, a queer and present danger)
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To: null and void

Nope. I closed three account when Washington Mutual went to CitiBank, no problem at all but that was then and not now.
I do have a joint account with my adult daughter, and the bank said I could not take my name off the account. We would have to close it and she could open a new one.
I found that to be weird, they said under the new banking regulations they are not permitted to do what was normal three years ago.


16 posted on 09/29/2012 4:23:17 PM PDT by svcw (Why is one cell on another planet concidered life, and in the womb it is not.)
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To: null and void

First thing, for your friend, have her advise the bank that they *will* cancel her card and not permit any transactions on any closed accounts related to her, or she will contact the state attorney general’s office.

The bank will do nothing, so then she contacts the state attorney general’s office and lay out the situation of what they have done. And she should be sure to say that if the bank has committed any criminal offense, she will be glad to file charges against them.

What they have done is petty, so little will happen directly, but what will happen is that the state attorney general’s office will contact the bank to let them know what is going on. This *will* get their attention.


17 posted on 09/29/2012 4:28:38 PM PDT by yefragetuwrabrumuy (DIY Bumper Sticker: "THREE TIMES,/ DEMOCRATS/ REJECTED GOD")
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To: svcw

Nothing weird about it. That’s the way it has been done for as long as I remember....about 50 years.


18 posted on 09/29/2012 4:30:30 PM PDT by Sacajaweau
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To: null and void

Yeah! My wife closed her account at Citizens RI, six months after we moved to Texas. She kept her account dormant for those six months, then notified Citizens of the request to close the account, and transferred out the entire balance.

Citizens continued to charge her a monthly account maintence fee for the next year, which we refused to pay.
They then sent the dormant account to a collection agency, who sold it to another agency, who sold it to another agency, etc., we even wrote Citizens showing them the initial correspondence, and a copy of the final transfer check which stated “close account.”

Still get mail from Citizens, and from “special deals” to pay the fees from yet another collection agency.

Screw them all!


19 posted on 09/29/2012 4:33:08 PM PDT by Noob1999 (Loose Lips, Sink Ships)
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To: null and void

Twice I have had the same problem closing out credit cards. The latest was a MC through a credit union. I closed my account (they sent me a check for the balance) and I called the credit card company tied to it and asked them to cancel the credit card — it had a zero balance for several months as I knew I was going to close it.

That was two years ago — this week they sent me two updated cards with the same account number with instructions to call to activate.

A phone call to them resulted in an “I don’t know” response when I asked why the account was still open.

I don’t think they ever close any account — I don’t know why — as it happen to me before.


20 posted on 09/29/2012 4:33:24 PM PDT by grayeagle
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To: ctdonath2

I left Wells Fargo an account with $4.69. I wanted to close it but they had paperwork that they said would take 30 minutes.


21 posted on 09/29/2012 4:33:44 PM PDT by CodeToad (Padmé)
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To: null and void
Company metrics are tracked for opening accounts; and for closing accounts.
Of course all companies want to grow; more accounts are what is wanted.
If you sit down and visit with a local personal banker; they should get things done the right way for you. If not, come back and take it up with the branch manager.
22 posted on 09/29/2012 4:33:59 PM PDT by HereInTheHeartland (Encourage all of your Democrat friends to get out and vote on November 7th, the stakes are high.)
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To: yefragetuwrabrumuy

Thanks, I’ll pass that on.


23 posted on 09/29/2012 4:35:06 PM PDT by null and void (Day 1348 of our ObamaVacation from reality - Obama, a queer and present danger)
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To: null and void

I had no problem closing “Statecoach” after they announced they were going to charge me to use my own money.

They didn’t even ask why.


24 posted on 09/29/2012 4:35:29 PM PDT by SandyInSeattle (Eat Mor Chikin!)
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To: null and void

Your a nut-job. Get a cashiers check and close it. Done


25 posted on 09/29/2012 4:37:32 PM PDT by eyedigress ((zOld storm chaser from the west)/?)
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To: null and void
I had a Bank of America checking and savings accounts. My sister had the same. I became co-owner of her accounts when she had a previous health problem in 2005. My sister passed away a little over a year ago. I closed both her accounts the end of 2011 since I didn't want to have to keep a minimum balance in them just to keep them open.

3-4 months after I closed them, I got a joint statement from Bank of America saying that there was a balance of 44 cents in her account. I called the bank to make sure they had actually closed the account, and they had. They advised me that the 44 cents was the interest the account had earned before it was closed. I was told that in order to stop the statement from coming, I could go to the bank, have them reopen the account, issue me the 44 cents, then reclose the account. It seemed like such a waste that I said it wasn't worth the time. I had continued to get periodic joint statements with that same 44 cent balance.

This summer I closed both my savings and checking accounts with Bank of America in person. At that time, the teller noticed that my sister's account sill had the 44 cent balance listed. She also mentioned that there was interest due on my account, so she kindly completed the necessary processing to refund me the interest due from both accounts. I told her what the Customer Service people had told me about reopening and closing my sister's account just to get the refund cleared, and she said that it wasn't necessary, that she could simply process it as a transaction on the computer. I did recently get another joint statement, but it showed a zero balance. I'm not sure how many more I'll get, but if Bank of America likes wasting their money on postage and paperwork...that's they're problem.

If you have a local branch of your bank that you can go to, I'd suggest telling them you want that penny refund to totally clear out your account. You may still get a statement from them, but you'll know there's no money left in it.

26 posted on 09/29/2012 4:38:46 PM PDT by mass55th (Courage is being scared to death - but saddling up anyway...John Wayne)
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To: null and void

My late husband had to appear in person (before he was “late”) THREE times at “Solar Confidence” before they finally honored his wish to close the account.


27 posted on 09/29/2012 4:47:02 PM PDT by left that other site (Worry is the Darkroom that Develops Negatives.)
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To: Noob1999
“Citizens continued to charge her a monthly account maintence fee for the next year, which we refused to pay.”

Highly recommend that you take that to your states Attorney General (or an attorney)and all 3 credit bureaus.
It will cost you a lot of money from a lower credit score if you ever take out a loan.

28 posted on 09/29/2012 4:48:17 PM PDT by HereInTheHeartland (Encourage all of your Democrat friends to get out and vote on November 7th, the stakes are high.)
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To: Sacajaweau

Hum? I have taken my name off accounts before with no trouble, we just went to the back and the both of us signed a statement and that was it.
Maybe, before the regulations the banks had more leeway.


29 posted on 09/29/2012 4:49:10 PM PDT by svcw (Why is one cell on another planet concidered life, and in the womb it is not.)
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To: left that other site

Your late husband should have been late to close the account.


30 posted on 09/29/2012 4:50:08 PM PDT by Revolting cat! (Bad things are wrong!)
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To: afraidfortherepublic; RedMDer; null and void

No, this isn’t a new thing. It’s a scam the banks and credit card companies have been playing for decades. Wells Fargo wouldn’t let me update the signature cards when the president of our club died. A couple of the tellers went to the funeral and the bank sent an arrangement because she was a long time customer and well known in the community. Still, they gave me the run around and wanted me to bring her in. What?!? Idiots! Funny thing, she’d already told me they wouldn’t let her update the signature cards a few years before when she first became an officer for the account so she just left it alone. WF admitted they never check signatures... real secure there, huh. They wanted me to sign over mortgage to my house and give them all my info - uh, NOOO! So, I went over to the teller and wrote out a check for the full amount. Yes, I signed my name and ...drum roll... they didn’t check to see if I was on the account. I got the money and told them what they could do with the account.

Citibank kept the interest running after we’d paid off their credit card. I’d call to find out what the amount would be a week later so they’d have my check within that time but for some reason, they never managed to get it posted in time. Imagine that! I let loose on them and they finally closed it with a snippy attitude that they were doing me a favor.

All of that is part of why I’d never have automatic payments. That’s just giving them more reason to mess things up


31 posted on 09/29/2012 4:57:22 PM PDT by bgill
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To: rbg81

That’s their job.

You call to cancel a card, and you immediately get sent to the bank’s card retention department. The folks there have incentives and get bonuses based on how many cards they “save”. Amex is the worst one for this. They’ll keep you on the phone forever trying to get you to stay by offering to waive fees, lower interest rates, free balance transfers, etc....until you almost have to resort to profanity to get them to cancel the card.


32 posted on 09/29/2012 5:02:33 PM PDT by Emperor Palpatine ("On the ascent of Olympus, what's a botched bar or two?" -Artur Schnabel)
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To: null and void

bttt


33 posted on 09/29/2012 5:03:24 PM PDT by TEXOKIE (Nobody made a greater mistake than he who did nothing because he could do only a little. EdmondBurke)
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To: rbg81

I closed an AMEX card just the other day. Took me about 2 minutes, no hassle at all. Got an email confirmation within an hour and they are sending a followup snailmail. The only thing they asked for the next day was for me to participate in a survey, which I refused, and that was the end of it.


34 posted on 09/29/2012 5:04:33 PM PDT by Oshkalaboomboom
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To: null and void

If an auto-payment to another bank took place your friend should have made other arrangements for that payment before “closing” the account. I understand it can take some time to do it but that’s the consumer’s responsibility.


35 posted on 09/29/2012 5:05:40 PM PDT by ken in texas (I was taught to respect my elders but it keeps getting harder to find any.)
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To: Revolting cat!

Well, he wasn’t late when he tried to close it! LOL! That would have been like something out of Monte python, if an urn full of ashes showed up to close the account.

I bet they STILL would have given him a hard time. (sigh)


36 posted on 09/29/2012 5:05:40 PM PDT by left that other site (Worry is the Darkroom that Develops Negatives.)
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To: null and void

Checking accounts are a bit tricky. People who received your personal checks have up to six months to cash it. Banks want all the checks you wrote cleared before you close the account, otherwise there will be bounced checks and penalty fees against you.


37 posted on 09/29/2012 5:17:38 PM PDT by Fee
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To: svcw

Same here I had a small account that we went in and added my mom on so that her SS checks could be auto deposited. When she passed on I went down to take her off andtheyy closed the account and reopened another one. Told me that was the only way to do it.


38 posted on 09/29/2012 5:48:04 PM PDT by sheana
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To: null and void

I had major frustrations trying to close an account at Stagecoach” at their main branch locally after thy refused to do a chargeback on a debit card fraud on my account and the bank manager called me a liar on top of it.

Went to their little branch office inside Wally World, and not only was it a piece of cake to do there, the branch manager told me that she was going through the same hassle with HER account there: Her own employer siding with fraudsters over a branch manager, and said that she would close her account there if she could, but it would cost her her job.


39 posted on 09/29/2012 6:37:23 PM PDT by LegendHasIt
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To: null and void
Or am I just being a nut-job again?

No, you're not being a nut-job. Contact the bank and demand they close the account so they cannot assess you any monthly fee's for their maintaining a minimum account.

A minimum account is any account that does not meet minimum deposit levels, for which the bank can assess fee's.

An account with 1 cent in it certainly qualifies as a minimum account. The last thing you want is them sending you bills or demands for monthly account maintenance fees.

(Disclosure: YES I work for a multi-national bank and YES that kind of crap does in fact happen.)

40 posted on 09/29/2012 6:47:24 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: svcw
I found that to be weird, they said under the new banking regulations they are not permitted to do what was normal three years ago.

You can blame "Dodd-Frank" for that.

41 posted on 09/29/2012 9:17:30 PM PDT by SuziQ
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To: svcw
...when Washington Mutual went to Citibank...

WM went to Pursue, not Citibank. Or as I call them "Evil Chase" and I, too, closed all my accounts after that middle-of-the-night coup d'bank. Chase stinks.
42 posted on 09/29/2012 9:49:06 PM PDT by JayNorth (Barack Obama and Joe Biden are proof positive that two wrongs don't make a right!)
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To: JayNorth

I had never heard of Pursue, so I looked them up.
I think depending on the part of the country, different take overs of different banks or same bank with different.
But oh, hell the banks are probably owned one person who just lays around the beach drinking G&Ts.


43 posted on 09/29/2012 10:02:27 PM PDT by svcw (Why is one cell on another planet concidered life, and in the womb it is not.)
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To: Emperor Palpatine

Going through that BS now, with BOA!


44 posted on 09/29/2012 10:28:58 PM PDT by GOYAKLA (Recall/ Impeachment Day, November 6, 2012. FUBO, same for RINOs)
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To: Emperor Palpatine

Cancel credit cards by registered U.S. mail, in it, request a written statement from them that they have closed the account, by law, they must do so.


45 posted on 09/29/2012 11:03:27 PM PDT by Holly_P
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To: null and void

I’m going to be closing an account with Bank of This Country’s Name in the next week or so. Just have to wait until all pending items have cleared. Hopefully there are no residual ill effects or other snafus.


46 posted on 09/30/2012 8:46:14 AM PDT by Two Kids' Dad (((( 0bama has been the gasoline to racism's flame ))))
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To: Sacajaweau

nonsense. I had two names on an account before and had one tame taken off. This was maybe 15 years ago.


47 posted on 09/30/2012 9:15:47 PM PDT by mamelukesabre
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To: null and void

If you want to be on or off the Agenda 21 ping list, please notify me by Freepmail. It is a relatively low volume list in which we have been exploring the UN Agenda21 and related topics. We have collected our studies with threads, links, and discussions on the Agenda 21 thread which can be found here:

http://www.freerepublic.com/focus/f-news/2738418/posts

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http://www.freerepublic.com/focus/f-news/2861644/posts

Post 128 of the Action Thread is a summary of the history of Agenda 21, “what they are doing”, “what to do about it” and a good bibliography for further reading.


48 posted on 10/01/2012 7:00:33 PM PDT by TEXOKIE (Nobody made a greater mistake than he who did nothing because he could do only a little. EdmondBurke)
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To: null and void

I moved to Florida recently, had an agreement to pay monthly payments to Dish Network for early termination (due to being transferred with my job and apartment didn’t allow Dish). Woke up this morning and they had swiped THE ENTIRE $300 from my checking account and after hours of yelling at bank and Dish, found there was nothing I do about it.

And people wonder why people ‘Occupy.’ Yes, I owed it. I was paying on it, but I asked the bank if I owed someone money, were they legally allowed to snatch it out of my hands as I walked to my car? Same damn difference.


49 posted on 10/02/2012 2:54:29 AM PDT by autumnraine (America how long will you be so deaf and dumb to the tumbril wheels carrying you to the guillotine?)
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To: null and void

Oh, and the unemployment rate is not calculated by unemployment benefits. Many of self employed people are ‘unemployed’ and do not qualify to receive benefits. And other examples.

Sadly, I know this because I am how they calculate the rate. Or part of it anyway.


50 posted on 10/02/2012 3:04:57 AM PDT by autumnraine (America how long will you be so deaf and dumb to the tumbril wheels carrying you to the guillotine?)
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