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  Home >> Accounts >> Checking Accounts  
Bank Closes Accounts: No Warning, No Explanation

My bank sent me a letter saying my business and personal checking accounts are going to be closed in early July. Both accounts are very active and I've never had bad checks or any problems. I was alarmed and called them to ask why this is happening and they refused to tell me anything; they actually said they can't tell me. What can I do, I need to know why this is happening, I'm sixty years old and have never had bank problems.

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You may be able to find someone whom you know at the bank who will unofficially tell you why the bank is closing your accounts, but don't be surprised if you are met with silence on the topic. The bank isn't obliged to tell you why it is closing your accounts.

Published on BankingQuestions.com 6/23/09