closing a bank account

[car3]

Has anyone ever closed a checking account before - what is the process? - Im pretty sure there are no outstanding debits - but what, if anything, would happen if a debit tried to go through on a closed account?

 

[krunchykrome]

Wait until you are certain that no debits will go through. If you need to, open a new checking account somewhere else and use both until you can transfer automatic debits to the new bank.

 

[car3]

i am closing the account tomorrow - just want to know the process and what happens if a debit tried to go thru after

 

[neovan]

The teller or banker will ask if you have cleared all your checks, you say yes. Then he/she will ask you why, you say, because I want to. Then you will present two forms of ID, one if this is the bank you opened your account with (since they have your signature card). Then he/she will ask if you would like a check or cash. If its over $10K, I suggest taking a check. Oh yeah...say your goodbyes.

I use to work for BoA

 

[car3]

Originally posted by: neovan
The teller or banker will ask if you have cleared all your checks, you say yes. Then he/she will ask you why, you say, because I want to. Then you will present two forms of ID, one if this is the bank you opened your account with (since they have your signature card). Then he/she will ask if you would like a check or cash. If its over $10K, I suggest taking a check. Oh yeah...say your goodbyes.

I use to work for BoA

ok, thanks a lot, still would like to know what happens if a debit tries to go thru after - just in case

like say netflix were to take out $15 after it was closed.. would they just not get paid or what??

 

[FoBoT]

no, you get hammered with a bad check. you could face criminal charges for writing a check on a closed account

hence, why you wait until you are 100% sure you have no more checks or automatic payments attached to the account. if you are not sure, then WAIT

keep waiting until you are 100% sure

 

[neovan]

if its just netflix...then they will probably send you an email or letter saying your transaction didn't go through and submit or call for a new payment option. If its bills and checks then you should wait until they clear or call up whatever company you have setup with automatic payments or sent checks to and tell them you're closing account.

 

[aswedc]

Just take all the money out of it and close it a year from now or something. It's not doing any harm just being there (unless you're actually paying for checking).

 

[car3]

I do not write any checks at all.

netflix has my mastercard debit card number - would this still be a bad check?

considering i make arrangements to pay netflix another way myself - would there still be a problem? if so would it be with netflix or the bank and if the bank why?

 

[Baked]

I've closed a savings acct at my bank before, but not a checking acct. In your case, don't write anymore checks and wait for all the checks to clear. And disassociate any auto payment you have linked w/ the acct.