In New York state, I received a letter dated May 25, stating that the bank was closing my accounts effective June 4. No reason was given. "All items should be cleared by June 3." A check for the balance of my accounts would be forwarded on June 5 (a Saturday). This is only six business days (with holiday) allowed from the date of the letter (which I received two days later). Did they legally give me enough notice time? When I called on Friday, no one was available to answer my questions until Tuesday June 1, no other phone numbers available to call.
We don't have access to New York state law relating to notice periods when a bank takes action to close an account. In many states with notice statutes, there is an exception when the bank suspects fraud, and we are not suggesting this is the case for your account. When there is not state rule, the matter usually becomes a question of the wording of the bank's deposit contract.
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We don't have access to New York state law relating to notice periods when a bank takes action to close an account. In many states with notice statutes, there is an exception when the bank suspects fraud, and we are not suggesting this is the case for your account. When there is not state rule, the matter usually becomes a question of the wording of the bank's 