Bank Account Closed Down Without Notice

[cashrose]

 Did anyone get notice or any information from your bank before your bank closed down? I just have notice that my bank closed down automatically without me knowing it. We made direct deposit for my refund last week to mybank account but i did not know that it closed down. I went today and asked why is this happened and he said if balance go zero in weeks or a month it automatically closed down. When i opened this bank account they told me it was free checking account and no minimum balance required,no maintaince fee nothing attach whatso ever. And next time i know they start charging fees etc..And next time i notice it closed down. So when i wnt there today to reopen the same account because the check from irs is comming  directly to that account, and he said when it closed,it closed and can't reopen. Are you kidding me?And he offered me again free checking account just like i opened 15 years ago same old ways,in different number. I believed this branch started seen their customers pulling out their account since they started charging fees on free account that used to be. So now me and accountant have to do fishing for that check cmming in the old account.I have to call him everyday to make sure he check my old account if there any check crawling in it before it will bounce bac to irs.. Whada dumpster humbster amster  stbk blah blah blah

[lrharting]

I have had that happen also.  I pulled all of my money out of one account and I planned to put money back into it.  When I got notification that the deposit failed is when I found out my account was closed.  I always just leave some change in there and they don't do anything about it.

[smithjcsdfw]

And if you think that is bad wait until the government seizes your account without notice and the bank will not even tell you.  They refer you to the legal department which refers you to the government enity or court that seized your account.  Oh what fun.

[lvstephanie]

No, I've never had that happen... That would be awful! I guess I'm lucky having the account that I do. I've even got Overdraft Protection that allows my account to fall below $0 without them bouncing checks or declining my debit card. Ironically the savings account I also have with them has a $5 minimum balance, so I'm usually just using my checking account and reserve my savings as a means to save money in a low risk, interest bearing account.

[stretch1967]

I havent had this problem. Alot banks are changing names. Mine was just bought out.

[de3ik]

I am sorry to hear about your troubles. And also to you others who have this problem. 

We haven't had this problem at any bank so far. Our old bank started charging fees on their free checking so we left them and put all of money into a local credit union. We haven't had any problems so far. I've heard many are going to credit unions because they have better customer service than banks. They are supposed to be more people centered or at least that's what we've heard. They have free checking and free statements. Our old bank charged $2 for paper statements.

[cashrose]

Thanks all Well then i know that it wasn't me alone that have this problem with banks huh? I'm sorry for us that had problem with these banks. It not feel good dough when we found out later that this happen without us knowing it in first place!!

[Clandestine1]

I'm sorry to hear that. That hasn't happened personally to me but it did happen to my friend for the same reasons as you. I have been hot with overdraft fees.

[CharmedPhoenix]

I feel your pain.  I used to be with a credit union, but moved so I switched to a local bank.  I found out the hard way that they, like many other big banks, re-order your transactions to get the most fees, if you overdraft.  Last year I was part of a class action suit against them and won back the amount of one fee.  In the meantime I switched to a friendly community bank.  There I learned that even signing paperwork stating that I did not want any kind of overdraft protection did not stop them from covering certain transactions and charging fees for it.  Then they were taken over by a big national bank, that was already involved in a class action suit like my first bank, and was back to the same old tactics.  You would think that doing what's best for the customer would be in their best interest since they'd go out of business without customers.  No wonder there are so many ads for pre-paid cards these days.  Personally that's what I'm doing.  It's expensive to do business with big banks when you're struggling as much as I have been.  Just one slip and they'll bury you and not give it a second thought.