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Home >> Accounts >> Checking Accounts
Account Not Really Closed: Now Has Fees
I closed my acount; the teller told me it was closed and gave me the remaining money in it. A couple of weeks later I logged onto to my online banking to double check that it was really closed, and it wasn't. It had a negative balance due to a check I had written a month before closing the account and had forgotten. There was over a hundred dollars in fees on the account. Basically, what happens if I choose not to bring the balance out of the negative and just leave it?
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 If you leave the overdraft, it's possible that the fees will continue to mount up, if the bank has fees for ongoing overdraft status. Eventually, assuming you continue to ignore it, the bank will pursue you legally for the amount owed, or hand the account to a collection agency, which may add its own fees. In the meantime, the bank could report its experience to a credit reporting agency, and your credit worthiness could suffer.
Contact the bank, explain the situation, and ask the bank to waive some of its fees due to the mix-up on attempting to close the account. This is one time when you might have been better off having the bank bounce your check!
Published on BankingQuestions.com 6/23/09
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