Bank Closure Question (BOA) - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 05-10-2015
Senior Member
 
Join Date: Dec 2014
Posts: 908
Thanks: 7
Thanked 175 Times in 119 Posts
Activity: 0%
Longevity: 38%
iTrader: (1)
Default Bank Closure Question (BOA)

This isnt really a Paypal question, but rather bank question. I know a lot of you use or have used BOA as your bank, but has anyone dealt with a BOA closure? Last month they decided to close my accounts (without notification of course) and there was money left in them. I am wondering if anyone knows when they send a check for the balance of funds that was in the accounts? Is have dealt with closures from other banks in the past and it was usually about 10 days or so until I saw a cashiers check for my balance. However, upon trying to search the web for my answers, I see that BOA is quite nefarious when it comes to closures. Yes, I have tried calling and got the runaround and "we dont have to disclose anything to you" type crap. Just seeing if anyone has dealt with a BOA closure, and if so when did you receive your balance?
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 05-10-2015
slokor's Avatar
Executive [VIP]
 
Join Date: Aug 2008
Posts: 8,498
Thanks: 286
Thanked 1,974 Times in 1,449 Posts
Activity: 99%
Longevity: 88%
iTrader: (89)
Default Re: Bank Closure Question (BOA)

Never had to deal with a single closure.
Why do you have to deal with multiple closures from various banks? That cant possibly reflect well on your credit record...
Reply With Quote
  #3  
Old 05-10-2015
BigCJ's Avatar
Executive [VIP]
 
Join Date: Apr 2011
Posts: 2,789
Thanks: 1,192
Thanked 1,019 Times in 708 Posts
Activity: 0%
Longevity: 67%
iTrader: (6)
Default Re: Bank Closure Question (BOA)

I would request a copy of your chexsystems report.

If you keep getting closures then you may have a note on your report stating possible fraudulent activity. The bank may have seen this mark and closed your accounts for potential loses, especially since you've had other banks shut you down in the past.
__________________
NEW account verification services! Please Inquire with a PM!
Reply With Quote
  #4  
Old 05-11-2015
Senior Member
Threadstarter  
 
Join Date: Dec 2014
Posts: 908
Thanks: 7
Thanked 175 Times in 119 Posts
Activity: 0%
Longevity: 38%
iTrader: (1)
Default Re: Bank Closure Question (BOA)

I have one mark on chexsystems that wont go away for whatever reason. It was a debt to WF for a bit over $300. Ive paid that off a couple years ago, but it still lingers in chexsystem despite my attempts to have it removed.
Reply With Quote
  #5  
Old 05-11-2015
Junior Member
 
Join Date: May 2014
Posts: 136
Thanks: 103
Thanked 8 Times in 8 Posts
Activity: 0%
Longevity: 43%
iTrader: (-1)
Default Re: Bank Closure Question (BOA)

Do you have an idea of why your bank account was closed? Was it due to mismatched names?
Reply With Quote
  #6  
Old 05-11-2015
Senior Member
Threadstarter  
 
Join Date: Dec 2014
Posts: 908
Thanks: 7
Thanked 175 Times in 119 Posts
Activity: 0%
Longevity: 38%
iTrader: (1)
Default Re: Bank Closure Question (BOA)

Quote:
Originally Posted by Productions View Post
Do you have an idea of why your bank account was closed? Was it due to mismatched names?
They wont say. The answer I get is basically "we dont have to disclose that information". I have a few theories as to why they may have closed them out, one being mismatched names. I had several accounts with them...if it were one or two accounts then there may have never been an issue. Who knows.
Reply With Quote
  #7  
Old 05-11-2015
unkown5454's Avatar
Executive [VIP]
 
Join Date: Mar 2011
Posts: 4,238
Thanks: 2,170
Thanked 1,313 Times in 942 Posts
Activity: 32%
Longevity: 68%
iTrader: (0)
Default Re: Bank Closure Question (BOA)

Quote:
Originally Posted by wtfebay View Post
I have one mark on chexsystems that wont go away for whatever reason. It was a debt to WF for a bit over $300. Ive paid that off a couple years ago, but it still lingers in chexsystem despite my attempts to have it removed.
Does it show on your credit report or just chexsystems?
Reply With Quote
  #8  
Old 05-11-2015
BigCJ's Avatar
Executive [VIP]
 
Join Date: Apr 2011
Posts: 2,789
Thanks: 1,192
Thanked 1,019 Times in 708 Posts
Activity: 0%
Longevity: 67%
iTrader: (6)
Default Re: Bank Closure Question (BOA)

Chexsystems takes 7 years I think. Paid off or not.
__________________
NEW account verification services! Please Inquire with a PM!
Reply With Quote
  #9  
Old 05-11-2015
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,042
Thanks: 5,509
Thanked 9,024 Times in 7,037 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default Re: Bank Closure Question (BOA)

Quote:
Originally Posted by wtfebay View Post
They wont say. The answer I get is basically "we dont have to disclose that information". I have a few theories as to why they may have closed them out, one being mismatched names. I had several accounts with them...if it were one or two accounts then there may have never been an issue. Who knows.
How many is several accounts?

Were any made at a branch or all online?

How long ago was that default paid, within the last 2 years? If that bank is Wells fargo, they are annoying to deal with as well.
__________________
Ever look at someone and think WhyTF has no one hit you with a shovel yet?
Reply With Quote
  #10  
Old 05-11-2015
unkown5454's Avatar
Executive [VIP]
 
Join Date: Mar 2011
Posts: 4,238
Thanks: 2,170
Thanked 1,313 Times in 942 Posts
Activity: 32%
Longevity: 68%
iTrader: (0)
Default Re: Bank Closure Question (BOA)

Quote:
Originally Posted by BigCJ View Post
Chexsystems takes 7 years I think. Paid off or not.
Yes, but Paid Off status can be challenged with credit bureaus. This is why I ask.
Reply With Quote
The Following User Says Thank You to unkown5454 For This Useful Post:
BigCJ (05-11-2015)
  #11  
Old 05-11-2015
Senior Member
Threadstarter  
 
Join Date: Dec 2014
Posts: 908
Thanks: 7
Thanked 175 Times in 119 Posts
Activity: 0%
Longevity: 38%
iTrader: (1)
Default Re: Bank Closure Question (BOA)

Quote:
Originally Posted by GreenBean View Post
How many is several accounts?

Were any made at a branch or all online?

How long ago was that default paid, within the last 2 years? If that bank is Wells fargo, they are annoying to deal with as well.
Several being 5 checking and 1 savings. 4 of which were attached to active stealth accounts and 2 were not. They were accounts I applied for online. And yes it was Wells Fargo that I owed money to, which was paid off a bit over 2 years ago.
Reply With Quote
  #12  
Old 05-11-2015
Senior Member
Threadstarter  
 
Join Date: Dec 2014
Posts: 908
Thanks: 7
Thanked 175 Times in 119 Posts
Activity: 0%
Longevity: 38%
iTrader: (1)
Default Re: Bank Closure Question (BOA)

Quote:
Originally Posted by unkown5454 View Post
Does it show on your credit report or just chexsystems?
Oddly enough, it never hit my credit report. Just chexsystems.
Reply With Quote
  #13  
Old 05-17-2015
Senior Member
 
Join Date: Sep 2011
Posts: 3,126
Thanks: 11
Thanked 750 Times in 578 Posts
Activity: 0%
Longevity: 63%
iTrader: (0)
Default Re: Bank Closure Question (BOA)

They might keep your money for up to 180 days.

If they think fraud is involved, they probably won't never turn over the funds at all.

7 years is absolutely correct. Paid or not.

Chexsystems is notorious for never removing anything, correct or not.

WF takes mismatched name deposits, but 5+1?! Crazy bad choice.

You need to get serious about this, a bank closing your account without warning is serious business and should make you stand up at attention and change your ways.

And you mention it has happened in the past.

You're about to be 'unbanked'. You're looking like a high risk problem customer.
Reply With Quote
  #14  
Old 05-17-2015
jeffweico's Avatar
Executive [VIP]
 
Join Date: Mar 2010
Posts: 7,219
Thanks: 895
Thanked 4,061 Times in 2,168 Posts
Activity: 0%
Longevity: 75%
iTrader: (12)
Default Re: Bank Closure Question (BOA)

I would pull my Chexsystems report right away to see if there is anything else on it. Things could have changed.

It is not normal to have accounts canceled by multiple banks, not even for mismatched names. There is something else going on here and you need to find out what it is. Banks will normally tell you WHY they closed the accounts, so this is highly unusual.

Your first course of action should be to get your Chexsystem report.
Reply With Quote
The Following 2 Users Say Thank You to jeffweico For This Useful Post:
BigCJ (05-18-2015), unkown5454 (05-17-2015)
  #15  
Old 05-18-2015
Senior Member
Threadstarter  
 
Join Date: Dec 2014
Posts: 908
Thanks: 7
Thanked 175 Times in 119 Posts
Activity: 0%
Longevity: 38%
iTrader: (1)
Default Re: Bank Closure Question (BOA)

Theyve already sent me my checks with my balances on it a week ago. However, how would I go about getting the chexsystem report and how would I remove things from it?
Reply With Quote
  #16  
Old 05-18-2015
jeffweico's Avatar
Executive [VIP]
 
Join Date: Mar 2010
Posts: 7,219
Thanks: 895
Thanked 4,061 Times in 2,168 Posts
Activity: 0%
Longevity: 75%
iTrader: (12)
Default Re: Bank Closure Question (BOA)

Quote:
Originally Posted by wtfebay View Post
Theyve already sent me my checks with my balances on it a week ago. However, how would I go about getting the chexsystem report and how would I remove things from it?
You can get a free report once a year, just like with the credit bureaus:

https://www.consumerdebit.com/consum...freereport.htm

How you would go about removing the items depends on what is on the report.
Reply With Quote
  #17  
Old 05-20-2015
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,090
Thanks: 407
Thanked 662 Times in 490 Posts
Activity: 0%
Longevity: 54%
iTrader: (0)
Default Re: Bank Closure Question (BOA)

That is a lot of checking accounts to have. It is much easier to explain having multiple savings than checking. That is if you keep proper balances in all of them.
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Appealing bank account closure stepia2 Subscriber Discussions 6 01-31-2013 06:59 PM
Amazon Account Closure Shadowmoe7 Amazon X 6 11-16-2011 05:44 PM
Mc010 account closure forummember eBay Suspensions 13 06-28-2010 11:55 AM
Do you get dispute resolution Closure notices? Ballsack PayPal Talk 5 04-09-2010 08:35 PM
Entropay caused PP acccount closure?? winniekuok Subscriber Discussions 4 02-09-2010 05:23 PM


Aspkin Group

All times are GMT -5. The time now is 01:35 AM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts