Skip to content

Re-route an ACH Credit: Closed Account

Answered by: 

Question: 
Can we re-route an ACH credit coming into a closed account to the customer’s loan account if their DDA is closed?
Answer: 

No. Your deposit contract with the customer terminated when the account was closed. Any setoff rights in your deposit contract similarly terminated. The same answer applies to charged off checking accounts, past due safe deposit box rent, etc. Your only option is to return the ACH account closed.

First published on 12/12/2015

Filed under: 
Filed under security as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics