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Home >> Accounts >> Checking Accounts
Bank Does Transactions/Fees on Closed Account
I recently closed my checking account with my bank, who also is my mortgage holder. I received a letter in the mail stating that they still put the payment through and are charging my mortgage payment along with overdraft fees. How can they charge me anything if the account no longer exists, due to me closing it?
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 If you specifically arranged with a bank representative to close out the account, the representative ought to have asked whether any automatic charges were set up to debit the account, or taken a look at the most recent month's activity to see the sorts of transactions there. That's simply part of thorough customer service, even if the bank is losing you as a depositor.
It's a fact of banking life that not all banks have systems that are so integrated as to allow ready access to information on all of a customer's relationships with the bank. You also could have contacted the mortgage department of the bank to ask that your old account not be charged. If the payment were still sent through to the old account, you'd have a strong case to argue that the payment should be reversed and the overdraft fees forgiven.
Did you arrange to have your mortgage payment made from another source? If not, your argument gets a bit weaker, since you did receive the benefit of a timely mortgage payment. At most, you could argue that the overdraft fees should be reversed, but you'll still owe what's left of the overdraft.
Published on BankingQuestions.com 8/25/09
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