As I prepare to tell the story of several of my bank accounts being closed, I posted the following on Reddit to try to get some feedback from others that may have gone through the same experience. I'm interested in learning if this is a prevalent issue.
The main story will be coming in early March 2020 as I finish the process of transitioning accounts, conduct my due diligence, see if I can figure out what actually occurred, and write what is going to be a multi-part series on the closure of five of my accounts. For now, here's my Reddit post.
In October, I lost $2,000 because I fell for a stupid scam, which involved depositing what turned out to be a bad check into one of my bank accounts. I paid the stupid bank fee. I moved on.
Without warning, four months later, the bank closed my accounts - two of which belong to my adult children, which is not only unfair to them, should never have happened. None of the accounts should have ever been closed without warning, but that's for another post.
My question: Has anyone else had their account closed because they deposited a scam check? Do you mind sharing details? I’d be equally interested in hearing if you deposited a bad check and subsequently had any positive, supportive experiences from your bank.
There is a bigger story here: you pay the returned check fee, you remain loyal (in my case, for 20 years before this crap!), you lose money from a scam, and then the bank adds insult to injury. Surprise: your debit card is rejected. Surprise: we're holding your funds. Surprise: your life insurance payment isn't going to post because the account is closed. Go find another bank. Oh, you need money to put in that new account? Ha! We have your money!
Yep, the terms & conditions say that banks can do this. Yep, I deposited a bad check. Yep, I'm one of the 30+ million adults a year - more than 15% of American adults - that falls victim to fraud. But the last thing you need after the potentially devastating aftereffects of losing money is the bank that you’ve been loyal to dropping you without warning. There has to be a better way.
If you have a story to share, please do. I'll be posting my saga in a few days.
The main story will be coming in early March 2020 as I finish the process of transitioning accounts, conduct my due diligence, see if I can figure out what actually occurred, and write what is going to be a multi-part series on the closure of five of my accounts. For now, here's my Reddit post.
Anyone have an account closed after getting scammed?
My bank - I won't name names yet, as I plan on writing a detailed account of the entire fiasco - closed five of my accounts a week ago. After holding my funds hostage for a week with zero information, I finally got someone on the phone to tell me it was because I deposited a bad check into one of the accounts way back in October. Funds are still in limbo, but at least now I know why.In October, I lost $2,000 because I fell for a stupid scam, which involved depositing what turned out to be a bad check into one of my bank accounts. I paid the stupid bank fee. I moved on.
Without warning, four months later, the bank closed my accounts - two of which belong to my adult children, which is not only unfair to them, should never have happened. None of the accounts should have ever been closed without warning, but that's for another post.
My question: Has anyone else had their account closed because they deposited a scam check? Do you mind sharing details? I’d be equally interested in hearing if you deposited a bad check and subsequently had any positive, supportive experiences from your bank.
There is a bigger story here: you pay the returned check fee, you remain loyal (in my case, for 20 years before this crap!), you lose money from a scam, and then the bank adds insult to injury. Surprise: your debit card is rejected. Surprise: we're holding your funds. Surprise: your life insurance payment isn't going to post because the account is closed. Go find another bank. Oh, you need money to put in that new account? Ha! We have your money!
Yep, the terms & conditions say that banks can do this. Yep, I deposited a bad check. Yep, I'm one of the 30+ million adults a year - more than 15% of American adults - that falls victim to fraud. But the last thing you need after the potentially devastating aftereffects of losing money is the bank that you’ve been loyal to dropping you without warning. There has to be a better way.
If you have a story to share, please do. I'll be posting my saga in a few days.
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