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closed acounts re-open? - 2/4/2008 8:06:55 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
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http://consumerist.com/352240/your-account-is-never-really-closed-at-bank-of-america

They do now. Based on the universal default rule- Ild expect all banks to follow this lead.

I have 2 that I know of. I just cancelled one and am going to cancel the other, I really should start closing accounts.[I have numerous] Like if this were me- I would not pay it. Im a stubborn SOB.

People- as usual- watch your wallet. and I do mean that!

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RE: closed acounts re-open? - 2/4/2008 8:45:10 AM

lauren0221

Posts: 681
Joined: 8/29/2006
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It's nuts. I had a similar thing happen with a cancelled AmEx card. Cancelled does not always mean cancelled, to my great surprise.

(in reply to pahunkboy)

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RE: closed acounts re-open? - 2/4/2008 10:05:46 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

How did you resolve it?

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RE: closed acounts re-open? - 2/4/2008 10:11:56 AM

lauren0221

Posts: 681
Joined: 8/29/2006
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Long story short - I was responsible for the charges. It hadn't even crossed my mind that charges could still be made on a closed account. Will know the right questions to ask, and precautions to take should the situation arise in the future.

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RE: closed acounts re-open? - 2/4/2008 10:28:28 AM

EvilGenie

Posts: 1323
Joined: 9/10/2007
From: Morocco and Maine occasionally
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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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