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What happens to the money if you close an account and forgot there was money in there?
Wiki User
∙ 13y ago
Actually such a scenario wouldn't occur. When a bank account is closed, the bank would release all the funds held in that account to the account holder on the same day the account is closed. Even if they can't do it immediately, they would have sent a check to the customer by post/mail. Banks cannot hold on to the funds of a bank account that was closed. It is mandatory for them to return the funds to the customer once his account is closed.
Wiki User
∙ 13y ago
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What happens if you do not close your bank account balance is fall than minimum?
nothing will happen you can put some more money in the bank account to resume it
When can you close your fathers estate account and keep the money as an heir?
when can you close my fathers estate account and keep the money.
Can a bank close your account?
It the account is left inactive for a long time with no money in it they may opt to close the account.
What happens to your money if you forfeit a deposit?
There will be no money in the account
What happens when money is deposited in account is it credited or debited?
deposited money is credited to your concern bank account
If you have a joint checking account with your husband can he close it or remove your name without your signature?
He cannot remove your name from the account. However, he can close the account and then open a new account with the money. Just remember this can work both ways. With a joint account either person can go in and close the account out and then take the money and open themselves a new account. Most of the time it depends on who makes it to the bank first to close out the account.
How do you close bank account?
Withdraw all money from the account and give an account closing letter to Bank.
If a bank customer has an individual account and they die and their will states that funds pass to a trust can the executor close the account?
Yes, they can close the account. The money will then be placed as directed by the will.
Can your bank take your money and close the account because of inactivity?
They can close your account because of inactivity but they cannot take your money. If you go to them and submit a written request, they are legally bound to return your money. And, that is if, there is anything left in your account after subtracting the charges the bank may charge you for keeping your account inactive.
Can bank close your deposit account?
Sure you can. It's your money and your account and you can close it anytime you wish. However, if you are closing your deposit account before its intended maturity date the bank can charge you a small penalty on the interest component for doing so. But the original money you deposited will not be touched and will be refunded in full when you close the account.
What happens to your money on eBay?
You have to register for a PayPal account and provide the required information. Then, the account is activated. When a buyer pays for your item, the money is deposited in your PayPal account.
Is it illegal to authorize money to be taken out of your account and then close account there after?
It is not illegal to authorize money to be taken out of your account and then close the account. However, if the money has been withdrawn and there are outstanding charges or payments, it is your responsibility to settle them even if the account has been closed. It is advisable to communicate with the recipient of the funds to resolve any outstanding issues.
