I just received a letter from one of my banks that they are closing our accounts due to unusual and/or suspicious activity. They gave us only one week. If the bank closes our account, will they report it to the credit reporting agency even if we don't owe them any money? In fact, we still have some money left that I presumed they will send to us. I just want to know if it will affect our credit and if they usually report it to the credit reporting agency. I am really stressed out with all these bank issues. I need some help.
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Whether the bank will report the closed account cannot be said for certain. Some banks report only accounts closed with amounts owing. Others include accounts closed by the bank for all reasons. Banks often send information on closed accounts only to specialized credit reporting agencies that deal principally in deposit account problems.
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Whether the bank will report the closed account cannot be said for certain. Some banks report only accounts closed with amounts owing. Others include accounts closed by the bank for all reasons. Banks often send information on closed accounts only to specialized credit reporting agencies that deal principally in deposit account problems.
