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What happens if a stray debit posts to my checking account after it's closed?
When Bank of America sold me to First Community Bank, I was not happy, and decided to take my business elsewhere. I closed the FCB account and deposited the funds at my new bank. One week later my insurance company debited an automatic payment I had forgotten to change. Rather than refuse the payment, FCB reopened my account, paid the $17.50 bill and charged me a $36.00 overdraft fee. Now my account has a balance of -$53.50.
If I had been charged a returned check fee by my insurance company, I would have called it stupid-tax and moved on, and I'll happily pay the $17.50 to FCB, but I don't feel any moral obligation to pay their exorbitant overdraft fee.
If I wish to fight the principles battle, how do I keep my reputation on ChexSystems and the various other credit reporting agencies intact?
2 Answers
- exactdukeLv 77 years agoFavorite Answer
How do you fight it, you call the bank regulator, or hire a lawyer. However since it was your obligation to tell the insurance co you changed banks - you'd lose.
Either pay it off, or go on the Chex system.
- npkLv 77 years ago
"Moral obligation" is irrelevant - legal obligation is what will bite you. Do you really want to "fight the principles battle" over a $36.00 fee caused by your oversight? Just what "principle" are you upholding? FCB did what their account terms provide for.
