ACH Debited on Closed Checking-Please Help Me
Date: Mon, 11/01/2010 - 10:13
ACH Debited on Closed Checking-Please Help Me
It says for my State, Tennessee:
Max Loan: 500.00 (mine was $800.00)
Loan term Max: 31 days (been paying for months)
Rollovers Permitted: None (cannot renew or otherwise consolidate) I have rolled over several times, and borrowed again on the principle I had paid back.
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee) I had 6 at the time I took out this loan.
Thank you! I would appreciate any help!
Me Again!
I just called my Banks 1-800 number and spoke with them in detail. I also made sure they knew the information I was given came from a Branch Manager. The Representative told me there was no way it could go through. It would be returned unpaid. I still needed more reassurance and asked her again, and she said she would talk to her Supervisor to help calm my nerves. I reminded her it was an ACH, and she said she saw that. But just for my sake, she would give all the info.to the Supervisor. She came back and said the same thing. No way it would be paid. I asked her how could a Branch Manager make such a mistake. She hesitated and said she was so sorry I was given the incorrect information. And she had no idea how the BM could be so misinformed. She also apologized several times for the, worry, anxiety, this has caused me. I told her I was still worried, even though she assured me all was okay. She said to try and let it go, get a good nights sleep, and check back in the am to see that all was okay.
Does this sound correct....the way I interpreted what happened when you closed a Bank Account?
First, calm down. The police won't be coming to your door. If
First, calm down. The police won't be coming to your door. If the charge goes through, You'll have to sign an affidavit stating you didn't authorize the debit so the bank can reverse the transaction and refund any fee that was charged. Did you revoke ACH permission with the PDL? Who is the PDL anyway? How much did you borrow? How much did they withdraw before you closed the account?
Quote:Originally Posted by OhioGal1First, calm down. The police
Quote:
Originally Posted by OhioGal1 First, calm down. The police won't be coming to your door. If the charge goes through, You'll have to sign an affidavit stating you didn't authorize the debit so the bank can reverse the transaction and refund any fee that was charged. Did you revoke ACH permission with the PDL? Who is the PDL anyway? How much did you borrow? How much did they withdraw before you closed the account? |
From my own banking experience, once your account is closed even if they try to withdraw funds its not possible. (a) the account is closed, (b) there is no money in it. If you had knowingly written a check and closed your account than yes that is a different matter. It's a shame that a BM misspoke, and its unfortunately that it happened to you.
Quote:Originally Posted by BuzzetteFrom my own banking experienc
Quote:
Originally Posted by Buzzette From my own banking experience, once your account is closed even if they try to withdraw funds its not possible. (a) the account is closed, (b) there is no money in it. If you had knowingly written a check and closed your account than yes that is a different matter. It's a shame that a BM misspoke, and its unfortunately that it happened to you. |
That's not always true. It really depends on the bank and what their policy is and/or how long their "wait" period is. Some banks mark the account closed but allow for additional time to see if more transactions are posted. Debits, checks, ATM transactions, POS transactions, etc. can all force the account to reopen. Some banks use different terminology as well. So, "closed" means one thing at one bank and another at a different bank. You really have to talk to someone at the bank who can clearly explain their policies to you and help you ensure your money is safe. That's the outcome you want, no matter how you arrive there.
I would also suggest you try and get their regs and procedures i
I would also suggest you try and get their regs and procedures in writing - as well as the name of everyone at the bank you talk to, and the date and time. It's better to have as much information on hand as possible in these situations.