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If you keep no money in your account for a prolonged duration of time or if you dont use your bank account for a very long time, then the bank has the right to either make your account dormant or even close it. Only an active account that has a minimum balance in it is eligible to be open and in service.
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My current bank account was closed and someone has been depositing money to it can the bank use this money for an outstanding loan?
my bank closed my account can i reopen the same account again
What happens if the bank closes your acct down can you go to jail for that?
It depends on why the bank closed your account.No If:The bank closed your account because you did not use the account for the past few months orThe bank closed your account because you did not maintain minimum balance requirements orYes If:a. The bank closed your account because the account was involved in suspicious activities like money launderingb. The bank closed your account because links to known terrorists or drug dealers were found from your bank accountc. The bank closed your account because you issued checks to people without maintaining sufficient balance in your bank account
You owe Wells Fargo money from a closed checking account 4 years ago they just opened a new account for you can they take your money from the new account to pay back your old debt?
I do not know about Wells Fargo, but Bank of America can. They took money from an account where I am a co-signer. My old account was closed 6 years ago.
Can you get a bank account with bad credit?
yes, long as your bank never closed your account due to lack of funds or owes money. if this was the case, you will not able to open an account with any banks for several years. asian623
Can you get money from a closed bank?
no
My current bank account was closed and someone has been depositing money to it can the bank use this money for an outstanding loan?
my bank closed my account can i reopen the same account again
What happens to the money if you close an account and forgot there was money in there?
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.
What happens if the bank closes your acct down can you go to jail for that?
It depends on why the bank closed your account.No If:The bank closed your account because you did not use the account for the past few months orThe bank closed your account because you did not maintain minimum balance requirements orYes If:a. The bank closed your account because the account was involved in suspicious activities like money launderingb. The bank closed your account because links to known terrorists or drug dealers were found from your bank accountc. The bank closed your account because you issued checks to people without maintaining sufficient balance in your bank 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.
How can you access bank account if closed?
You cannot access a closed bank account. Only the bank and the law enforcement authorities of a country have access to closed bank accounts.
Can you deposit a personal check into a bank account that is closed?
No, the account is closed.
Can you reopen a bank account that's been closed?
No. Once a bank account is closed, the account number remains unused by the bank for seven or more years (it varies by individual bank). You may reopen a new account with the same bank, provided the first account was not closed by the bank for improprieties perpetrated by you.
Is it legal for a bank to withdraw funds from an active account to satisfy a closed account that went delinquent due to theft?
If you owe a bank money and you have other accts with that bank they are allowed to take the money to satisfy the overdaft/delinquent fees that you may have.
You owe Wells Fargo money from a closed checking account 4 years ago they just opened a new account for you can they take your money from the new account to pay back your old debt?
I do not know about Wells Fargo, but Bank of America can. They took money from an account where I am a co-signer. My old account was closed 6 years ago.
Can you have money direct deposited into your closed account in order to reopen it?
If your account was closed by you going into the bank and withdrawing the balance of the funds to close account, no. This account has been officially closed and is no longer active. However, if your bank account was closed due to lack of funds and put into the overdraft mode; yes. In fact you need to deposit funds as soon as possible to bring the account into the positive and to avoid any further charges or collection issues. NO
Why do you use automatic teller machines?
Because they're a convenient way of getting money out of your account when the bank is closed !
Can you get a bank account with bad credit?
yes, long as your bank never closed your account due to lack of funds or owes money. if this was the case, you will not able to open an account with any banks for several years. asian623
