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#2031546 - 08/04/15 04:17 PM Bank Closes Account
Banker Kathy Offline
100 Club
Joined: Apr 2010
Posts: 103
Do we need to give more than 30 days notice if we choose to close an transaction account? Do we need to give longer notice if the account receives SSI?
Thanks

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#2031697 - 08/05/15 02:25 AM Re: Bank Closes Account Banker Kathy
JacF Offline

Power Poster
Joined: Nov 2001
Posts: 6,719
PA
30 days notice is required when closing an account that receives federal benefits. There are no requirements for notice beyond that.

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#2031700 - 08/05/15 03:08 AM Re: Bank Closes Account Banker Kathy
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Check your own bank's account agreements and disclosures to see what has been said to customers.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#2032036 - 08/06/15 01:09 PM Re: Bank Closes Account Banker Kathy
Banker Kathy Offline
100 Club
Joined: Apr 2010
Posts: 103
Our disclosure says We may close the account at any time upon reasonable notice to you and tender of the account balance personally or my mail.

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