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EvilGenie -> RE: closed acounts re-open? (2/4/2008 10:28:28 AM)
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I use 3 banks and Bank of America. I had all but left behind the BoA account in favor of the other 2. UNTIL I discovered that only my BoA account would be able to service (no pun intended) me better than the others when living overseas. I, after many months, clicked into my BoA account and found it highly in the red. Yes, this was mainly my fault although they had refunded me some monies, I had not been informed that they took said monies back leaving me negative. I closed the other accounts, paid off BoA and am able to use that account. I owed them some of the money myself and the remainder being their fault.
I am, however, very strict in using my accounts and am very happy that they had never closed my account as it surely would have gone into ChexSystems and I'd have been really screwed at that point. The only ongoing issue I have with BoA is something many banks are doing. They hold back the highest debits, clearing them after all of the smaller ones. If one is not strictly careful in waiting for all debits to clear from pending then trouble can be had. I was aware of this practice before my brief return to the US and am a careful user of banks due to this. There is a list of banks which use this practice in the article that I had read.
I'd be up the proverbial creek had BoA closed my, unbeknownst to me, overdrawn account.
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