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View Full Version : Zero balance, bank automatically closes account!


DYI hunting
05-29-2010, 10:55 AM
A little Saturday morning rant. I have had the same checking account for 18 years. The bank was bought out by Regions around 12 years ago and I have had no problems with them.

I opened a second checking account with my daughter 2 years ago when she started working. 2 years of no troubles and yesterday she bounced for the first time ever. Late last night I transferred from my account the $35 overdraft fee and $10 she bounced to zero out her account so she wasn't negative and once I talked to her after she woke up about how much money she needed, I was going to transfer more today. Guess what? If you zero out your balance they automatically close your account! I called the bank and they close any account that is zeroed out at the end of the business day because so many people zero out their account to close them and never contact the bank. I can't even access from my online access to transfer money to her account. We have to go to the bank Tuesday to reopen the account, they can't even do it on the phone. She has another 3 checks for small amounts that have not cleared and there is no way I can get money in the account till Tuesday. It's not like we are bad customers, I have a savings account with money, 2 personal checking accounts, and a home loan with Regions.

This is stupid. I could see if someone zeros out their account for a week or month closing it, not 7 hours. :banginghe:banginghe:banginghe Now I expect 3 more checks to bounce because I can't get money in her closed account. Do all banks do this??? I am thinking it is time to find a new bank.

Ga Sportsman
05-29-2010, 11:23 AM
The checks shouldn't "clear" until the end of their business day Tuesday.......I would think as long as you get up there and talk it over w/ them before the end of the day Tuesday, you will be fine. Could be wrong though.

Twenty five ought six
05-29-2010, 11:32 AM
My bank is open Saturday.

Local bank is the way to go.

Well, except in DYI's case where the local bank went bust.

Ga Sportsman
05-29-2010, 03:50 PM
I'm at a local bank here in Jackson as well. BTW, my brother works there so banking problems are a pretty easy fix for me. I got a buddy that always tells me, "you should join Bank of America.....They can do this, that, or the other......blah, blah, blah" I think I'll stick w/ my small bank where I know everyone and they know me. Not to mention, when I need something done I can just call my brother to do it.

CAL
05-29-2010, 04:13 PM
Can't beat being in a bank or other institution where you are known rather than being a number or even less.ALTHOUGH,this is not always a persons option.When one lives in a big city or large town so many times they become a number and are never known!

DYI hunting
05-29-2010, 09:49 PM
When I got married at 16, we opened an account with a small town bank. When I was stationed in Hawaii, they went out of their way to help several times. Then Regions took them over. It was still fine till they closed my local branch about a year ago and it went down hill from there.

Talked to the 1800 number and they said as long as we make a deposit Tuesday before 2pm, it will credit before any checks clear. That still means we have to go bank night deposit to do something I would typically do online.

packrat
05-29-2010, 10:59 PM
Small town credit unions are the best for checking accounts.:flag:

contender*
05-29-2010, 11:27 PM
Even with a large bank (I use BBT) it's best to go inside as much as you can and talk to folks, don't just run through the drive through or do all your business online. I know it's kind of a hassle but if you'll go in (and I usually try to go talk to just a couple of the same people) they get to know your name and put a face with that name, you'd be amazed at how much that can help when you have little problems like this.

T.P.
05-30-2010, 12:25 AM
DYI, if Jefferson is in your daily travels, check out Mt. Valley, nicest folks you'll ever do business with. They have gone above and beyond helping me and many times have helped me with issues that have nothing to do with them.