Can banks charge/withdraw from closed checking accounts?

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writteninthestars
Posts: 10
Joined: Fri Jan 21, 2022 12:03 pm

Can banks charge/withdraw from closed checking accounts?

Post by writteninthestars »

If my bank A sent trial deposits to bank B to verify the link, but did not take the trial deposits back in two weeks, can I close my account in bank B? I wonder if bank A can withdraw the trial deposits from bank B in a few months even after it's closed and cause an overdraft. Thank you!
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celia
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Re: Can banks charge/withdraw from closed checking accounts?

Post by celia »

I suppose an overdraft would happen, although I’ve never thought about it one way or another. Trying to pull back the “test” money is like trying to cash a check on an account that is closed. The person/company trying to pull money out would probably end up with overdraft fees.

If you’re the bank A customer who requested the link, bank A may try to pass the fees onto you. Why don’t you call bank A and ask if they will pull the “test money” back. I think I had cases where they just left the money in bank B. It is usually less than a dollar anyways.
sycamore
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Re: Can banks charge/withdraw from closed checking accounts?

Post by sycamore »

And welcome to the forum, writteninthestars!
Topic Author
writteninthestars
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Joined: Fri Jan 21, 2022 12:03 pm

Re: Can banks charge/withdraw from closed checking accounts?

Post by writteninthestars »

celia wrote: Fri Jan 21, 2022 5:42 pm I suppose an overdraft would happen, although I’ve never thought about it one way or another. Trying to pull back the “test” money is like trying to cash a check on an account that is closed. The person/company trying to pull money out would probably end up with overdraft fees.

If you’re the bank A customer who requested the link, bank A may try to pass the fees onto you. Why don’t you call bank A and ask if they will pull the “test money” back. I think I had cases where they just left the money in bank B. It is usually less than a dollar anyways.
Thank you for your reply! Yes I did call bank A to ask about it, the rep wasn't sure, he first said they'd pull it back but when I told him it's been 2+ weeks then he said maybe not lol. I closed the account with bank B anyways. I suppose bank B won't charge me an overdraft fee?
Topic Author
writteninthestars
Posts: 10
Joined: Fri Jan 21, 2022 12:03 pm

Re: Can banks charge/withdraw from closed checking accounts?

Post by writteninthestars »

sycamore wrote: Fri Jan 21, 2022 6:38 pm And welcome to the forum, writteninthestars!
Thank you!! Glad to be here :)
othermike27
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Location: Chicago Metro

Re: Can banks charge/withdraw from closed checking accounts?

Post by othermike27 »

A few years ago I set up a transfer from Bank C to Bank D (probably not the same as your Banks A and B :D ), and Bank C sent a trial $0.05 deposit. When the $0.05 was still in my Bank D account after the next monthly close, I contacted Bank C and asked: Hey! Don't you want your money back? Their reply was the email equivalent of "Why don't you just go out in the back yard and play and we'll handle the numbers stuff."

Since then I don't worry about trial transactions...
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