You can close the customer's account because they are wearing a blue shirt, if you want too. A bank reserves to right to close a deposit account at any time for any reason. Check your Depositor's Agreement.
Close Account Due to Account Abuse?
We have a customer who we recently refunded $630 of Returned NSF Fees and Continued Negative Balance Fees to after stating the items came thru sooner than scheduled (Reg E). The account went positive for one day and has now been negative for 17 days since (62 days NSF last 12 months). She has another account that is currently positive but that account has also had 41 days NSF. Can we close her accounts due to account abuse or failure to maintain account in a responsible manner?
First published on 11/24/2019