1137 Shares

Can a bank close your checking account without notification and freeze the money in the account?

Can a bank close your checking account without notification and freeze the money in the account? Topic: Representative research article
June 16, 2019 / By Prunella
Question: Chase bank closed my account without notifying me because of "misuse". The told me I had too many checks going in and out of my account. They are not honoring any debits or checks that are presented however they accepted my payroll direct deposit. Furthermore they will not let me get the funds in my account (over 2K) until the account is officially closed and they will send me a check in about 10-14 business days. they said that this is their policy and that's that. Any suggestions?
Best Answer

Best Answers: Can a bank close your checking account without notification and freeze the money in the account?

Mckayla Mckayla | 10 days ago
Unfortunately they are able to do that, however there are somethings that you make sure you do since the account is now closed to prevent further problems. There is this great article that outlines a to-do list when closing an account. Most importantly make sure you cancel your direct deposit and automatic bill pay now to prevent more of you pay from going into that account and from bouncing bill payments. Here is the article:http://bit.ly/cqSUkX Hopefully that helps with your current problems. Chase is building a poor reputation right now so I would suggest researching new banks that offer the best type of accounts you plan on opening in the future. Be sure to read the agreement carefully/talk through it with a representative to prevent this from happening in the future. Best of luck!!
👍 288 | 👎 10
Did you like the answer? Can a bank close your checking account without notification and freeze the money in the account? Share with your friends

We found more questions related to the topic: Representative research article


Mckayla Originally Answered: I want to close my Bank Of America Account?
You need to pay off everything in it (i.e. bring it to balance zero) before you can close it. Just go into a branch and say "I want to close my account". They'll check your balance. They'll give you cash or write you a cashier's check (for large amounts), and probably ask you why for their reference.
Mckayla Originally Answered: I want to close my Bank Of America Account?
First, you need to cancel all direct deposits and recurring debits. Second, you need to wait for all checks or pending transactions to clear. Third, you go to the bank and tell them you are closing the account.

Laurie Laurie
Chase is going on a termination spree. They're closing down hundreds-to-thousands of accounts and most of the terminations don't get an explanation. Chase doesn't have to notify you about your account closing and yes, they do close accounts down for the stupidest reasons or no reasons at all. It's by far the worst bank I've ever had to deal with. My advice is take your money and run! Go to another bank. You deserve better.
👍 120 | 👎 2

Joan Joan
Yes, they can do that. Obviously, they had indications of improper transactions going through your account.
👍 111 | 👎 -6

Joan Originally Answered: Paypal question - can I transfer money from my paypal account to a bank account that is not my own?
That is about the same thing that happens when you buy something. They take the money out of your account and transfere it to another account. Why not just request the money to be sent to you, and then you can deposit it in your own account and just write a check for the amount? Did you look at the Paypal FAQ's? good luck.

If you have your own answer to the question representative research article, then you can write your own version, using the form below for an extended answer.