If I cancel a bank account with a negative amount what happens?

Question

(a few mad run-on sentenses-->) I think i got screwed wtih my bank and they are charging me a $30 fee which i think they have their dates wrong cause I should have had money in my account according to a teller and the internet. I'm going to argue it but if i can't get it taken off should i just pay the 30 and switch banks or just be mad and switch banks without paying? consequences?

thats what i figured. thanks ya'll

Answer 1

they will put it on your credit report. take your lumps, pay it, and get the h*ll away from that bank

Answer 2

Absolutely pay the fee and close it with a zero balance. The reason? The bank will:

A> Report the amount you owe on your credit report, thus giving you a negative account on your report which can stay on there for seven years. Even though its $30, it is still reported as a negative account that you owe on.

B> Report you to Telecheck which is a company most banks use to verify your identity and bank account history before opening an account for you. If your bank reports that you closed your account with a negative balance, you may not be able to open another account until the matter is resolved. You will end up paying the $30 plus interest, plus collection fees.

Don't ruin your credit or bank account history over a $30 fee.

Answer 3

Go in and tell them you are closing the account. Ask them to waive the contested charge. Take as much of their time as possible, be really polite and explain in great detail. If they won't waive the charge, just close the account, or have them freeze it or whatever you can have them do which is work for them, and thank the person you talked to, noting their name. Then leave without indicating what you are going to do next.

Then write the person a letter, as long and involved as you can make it, again requesting that they waive the charge etc. etc. Tell them you are contesting the charge, include copies of any correspondence or bank statements etc. Tell them that you require a written response to your claim that you do not owe them any money. A few cc's sent to whoever else in the bank you can pester won't hurt.

So, they will write you back and either waive the charge or tell you that the charge is owed. At this point I would pay the charge, by check from the other bank.

From my experience, you won't have to pay. If you pay, at least you have caused them more than $30 in aggravation and you don't want them reporting you to the credit bureau.

Answer 4

You can't close an account with a negative balance. If you just abandon the account it will close in 30 days and you will be reported to Chex systems, this can prevent you from opening an account at another bank. Get a copy of your statement and bring your check register into the bank and ask to sit down with someone to work it all out.

Answer 5

If you close your account still owing the bank money, they will turn it over to collections and it will show up on your credit report like any other debt would. It will hurt your credit and also possibly keep you from opening an account with other banks later on. You need to just pay the $30.00. It's not worth the damage it will do to your credit rating. It will be seven years before it would come off of your credit.

Answer 6

NO, you CANNOT close the account. The BANK can close the account and you will still owe the difference. The overdraft fees are NOT out of nowhere. EVERY detail of the fees was spelled out IN DETAIL in th fee schedule you WERE given when you opened the account, and at least once a year in your statements.

Answer 7

the bank won't allow you to close it with a negative balance.

Answer 8

you wont be able to close the account with a negative balance.

Answer 9

if a bank f u c k es you then pay what you owe and get the f u c k away from them!!!!!!!!!

Answer 10

I don't think you can close an account in arrears...?
you'll have to deal with it..as an adult would...
take care of your business