Learn More - Click Here!

Thread Options
#1445065 - 09/17/10 08:52 PM Levy
derup Offline
100 Club
Joined: Apr 2004
Posts: 103
Does anyone know if we can close an account just because we received a Levy? We send any funds in that we have on hold but then the account is closed. It seems that I read somewhere that this wasn't allowed.

Return to Top
#1445137 - 09/17/10 10:31 PM Re: Levy derup
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 78,958
Galveston, TX
Once you remit the funds, you are free to do with the account as you please.
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1445258 - 09/20/10 02:47 PM Re: Levy rlcarey
Midwest Banker Offline
Gold Star
Joined: Nov 2004
Posts: 349
You are under no obligation to keep the account open or to "reopen" it if they come in with another deposit. Our systems automatically "close" the account after the third day, however we allow the customer to reopen it with another deposit, unless we have experienced severe problems with overdrafts, etc.

Return to Top