Our customer has, on more than one occasion, put his checkbook where untrustworthy individuals have gained access and he’s also given out his account info to scammers. We have told him he needs to close his existing account and open a new one. He refuses. Is there anything we can do?
When closing an account with direct deposits for fraudulent activity, is the bank required to give the customer 30 days' notice before closing?
We have a fraud program that lets us receive collaborations from other financial institutions via 314b information sharing that have reported suspicious activity with our mutual customer. Our customer has not yet conducted suspicious activity with us but we know it's just a matter of time.
How can we justify closing the account or what reason can we give to the customer for closing the account without disclosing where we received the suspicious activity from?
Can institutions mail clients letters stating they are closing an account due to kiting? I've always understood that you had to use the term "uncollected funds" when telling a client their account was being closed.
We have a customer who we suspect is kiting. We are considering closing the
account and writing the customer a letter stating that the account is being
closed. Our question is what can say to the customer to explain why we are
closing the account?
Can an appointed guardian close a joint account? Does the appointed guardian supersede the joint owner of the account?
DDA customer account auto closes because the balance went to zero. Customer comes in 2 days later wondering what has happened. Must they be re-CIPed to re-open their account?
I need to know if you can remove a signer/owner from an account, if you have a divorce decreed.
BANKDetect has joined forces with the Bank Closed Account Reporting System (BANKCARS) to offer banks an affordable way to check identities.
On our last training page we talked about the reason for returns. In some cases, that reason is for "Payment Stopped".