Best Answer

If an account is charged off it is automatically closed. It is listed as uncollectable debt.

User Avatar

Wiki User

โˆ™ 2005-10-01 20:53:59
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: If your bank account says EFT Charged Off does this mean that the account is closed?
Write your answer...
Related questions

What does Account closed by consumer mean?

The wording "Account closed by consumer" means that "you", and not the lender, closed the account. It usually indicates that there was no problem on "your" behalf with the account.

Can you transfer money on Memorial Day if you share the same bank account?

If your bank allows you to transfer money, then you can transfer money. If they're closed (and most banks are closed on Memorial Day), then it's going to be difficult, but you may be able to do it at an ATM or online. It's not clear what you mean by "if you share the same bank account". Transferring money from one account to the same account is kind of a null operation.

What does ITF internal transfer of funds mean on a bank account?

what does itf mean on a bank account

What does relationship bank account mean?

A relationship bank account does not use money...

What does it mean when a cheque is returned for reason account closed?

It means the account that the check was drwan on has been closed. Whoever wrote the check went to the bank, closed the account without providing a list of outstanding checks, and took whatever cash was left in the account. Unfortunately it makes the check you're holding worthless... but if you are located in the US (not sure about other countries) it is considered bank fraud and is a federal offense. Contact an attorney.

What does bank account holder mean?

its a type of bank account where the name of the account holder is kept secret.

What does debited to your account mean?

It means they have charged you for some amount. So you may have less $ in the bank or owe more $ than before the debit occurred.

What does TR FOR mean on a bank account?

The meaning of TR on a bank account is asset based financing.

What Does Bank Account Name mean?

It is the name of the account holder

What does Correction mean in bank statement?

when the bank has corrected an error with your bank account

What does Bank balance mean?

It means how much money you have in an account at the bank.

What does CR mean on a bank account?


What does ac mean in a bank statement?


What does TTEE mean on a bank account?


What do you mean by Electronic Clearing System?

It is type of one bank account fund transfer to another bank account

What does wow mean on a bank statement?

it mean aprined record of the money put into removed from a bank account

What does cash in the bank mean?

It means you bank account is in credit, you have money to spend.

What does dr cardholder mean on your bank statement?

it means the bank has taken money out of your account because; - they possibly covered a refund until the company you received the refund from has paid it back - a company has charged you twice for the one transaction if you notified the bank they have covered the refund until the company pays it back into your account. best thing to do is contact you bank in the frauds and refunds department

How must i sign up in order for me to check my balance in my account?

Assuming you mean a bank account: The details depend on the specific bank. Contact your bank for details.

What is mean by lien balance in bank account?


What does it mean to credit an account?

a/c in entry in the bank.....

What does bank account is purge able mean?


What does the term DLA mean?

It refers to the "date of last activity" on an account; for example, when the account was charged off.

What does MIF-SWP MSPDIV on my bank statement mean?

What does MIF-SWP-MSP on my bank account mean

What does POD on a bank statement mean?

on a bank account statement, it means Payable On Death