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Bank Closed My Account

bogey21

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Actually it was my Son's Account which I can sign on. I received a phone call from the Bank (one of the big 5) telling me the Account had been closed and the Debit Card cancelled and that he needed to go into a branch and open a new one. They asked me what seemed like a million questions to make sure they were talking to me. An example is "what was the color of your 2006 truck"? We then went through all the transactions for the last 2 weeks to make sure they were legitimate. They were.

They then walked me through changing the account's online access ID and PW and told me they would continue to process electronic transfers both in and out for 90 days. Basically they gave him 90 days to notify his counter parties of the change in his Account Number.

What bothers me is that when I asked them why they were doing this the answer that it was at the request of a Government agency. I asked what Agency. Answer was that information was in another Department. When I asked to be transferred to that Department they told me they weren't authorized to. I'm suspect that the Government shut down someone who had a list of Account Numbers, Social Security Numbers, etc. but don't know.

George
 
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T-Dot-Traveller

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Big Brother Gov. is here to stay

Just a fact - perhaps it was always that way
but pre- big data perhaps we did not notice.
 

JudyH

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Happened my son two yrs ago. Dad also on his acct. Turned out new wife cashed out stocks. It didn't get reported to IRS correctly and IRS took the money and had the bank close the acct.

Got fixed in about a week later. Caused much anxiety and hysterics.
 

bogey21

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My big problem with this is that if my Son's account was at risk enough for the bank to close it, we ought to be told what that risk was. Maybe there is something more we should be doing to protect him.

George
 

x3 skier

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I would select another bank at the earliest convenient time.

Cheers
 

JudyH

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Will they tell your son what it was? Ours was with B of A.
 

Beaglemom3

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I was contacted in this exact manner re: my Mother's account. I was her legal guardian at the time.

I declined to answer any questions over the phone. I don't disclose information over the phone to anyone not verified.
When they asked me what county had she lived in I told them that they should know and should tell me. Same with the color of her car. If I had supplied this information, they could answer security questions to access her accounts.

I requested a certified letter and/or a 1:1 meeting at the bank.

I got neither and did not hear from "them" again. I smelled a scam. That was 6 years ago.


0
 
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DeniseM

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Actually it was my Son's Account which I can sign on. I received a phone call from the Bank (one of the big 5) telling me the Account had been closed and the Debit Card cancelled and that he needed to go into a branch and open a new one. They asked me what seemed like a million questions to make sure they were talking to me.

How could you tell, over the phone, that it wasn't a scam?
 

Luanne

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How could you tell, over the phone, that it wasn't a scam?

I would like to think that I could detect a scam. I would like to think that if I got this kind of call I would think to ask for a call back number, or that I'd hang up and call the bank myself.
 

DeniseM

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I would like to think that I could detect a scam. I would like to think that if I got this kind of call I would think to ask for a call back number, or that I'd hang up and call the bank myself.

He doesn't say if he did that, so just wondering.
 

Beaglemom3

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How could you tell, over the phone, that it wasn't a scam?

That was my concern as well.

Why would I need to answer questions over the phone on a call made to me, not one that I had originated ?

-
 

Luanne

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So, what is the way an organization, or institution, would communicate about problems? I know I get emails, and/or text messages about credit card fraud alert. But then I have to contact them to find out what is going on. I guess it's always better to get something (probably in writing) and then contact them yourself. Of course in the case of potential fraud I'd want to be alerted right away.
 

DeniseM

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So, what is the way an organization, or institution, would communicate about problems? I know I get emails, and/or text messages about credit card fraud alert. But then I have to contact them to find out what is going on. I guess it's always better to get something (probably in writing) and then contact them yourself. Of course in the case of potential fraud I'd want to be alerted right away.

It doesn't matter how they initially contact you, but you should not answer questions over the phone, or by email, if someone contacts you.

You should call your bank back, or contact them through their website, so that you definitely know who you are talking to.
 
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carl2591

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I have gotten calls from the "bank" as well.. I just ask for there name and say I will call back and ask for you and hang up..

Years ago the bank called my dad all the time. He knew the person at the bank by name and where they lived.. Now a days i don't trust a call from the bank or at least in one that asks a lot of questions.

hang up and call back yourself to the number you have not one they give you.

Could have been a scam or not..

and I think, as do Clark Howard, that debit cards are BAD.. go credit or cash only.
 

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It was definitely the Bank. Color me stupid if you want. But not only did I get a call back number that put me through the touch 1 for this, touch 2 for that, etc drill before I ever got to a live person but I also made them tell me about a number of his transactions, not only on his checking account but also on his Line of Credit, his Credit Card, his wife's car loan and had them identify specific electronic counter parties. If they were illegitimate and had all that information, there was no need to have called me as they already knew everything including the name of the Best Man at my Son's wedding. Heck all they wanted to do was advise me they were closing the account and get him to go to a Branch Office.

My beef is not that they called and really not that they insisted on closing the accounts. I have to assume knowing that they were pissing off a customer big time that they had their reasons. My beef is that they wouldn't tell me why. All they would tell me was that it was at the request of a Government Agency and their instructions came from one of their Departments they wouldn't or couldn't transfer me to.

George
 

Talent312

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As one who has engaged in online banking for ~15 years, I've recently become quite concerned about the vulnerability of bank, credit card & brokerage accounts to bots that can open + empty accounts no matter how strong our ID's and passwords might appear to us, particularly at sites without secondary authentication protocols.

I'm disturbed that membership sites (like HGVC) have adopted stronger access protection than many financial sites. I'm in the process of upgrading passwords, but I'm also going to examine the sites' level of access protection in deciding where to park my $$.
.
 

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Not exactly the same thing, but I was asked that same stream of questions while standing on a fuel dock in San Diego Bay

here's what happened. I was a month into a 2 month stay in San Diego and had just finished work on my new boat, and we were ready for our maiden voyage. The previous owner didnt leave me with much fuel, so our first stop was the fuel dock. $800 later we had filled one tank, and I tried to pay with my Bank of America Debit card and it was declined

I called the number on the back of the card and was transferred to the fraud dept, They didnt say it was a "government agency" What they said was that they had noticed a number of "out of the ordinary" charges to the card, and that this last one 3000 miles from home and for something I had never bought before was enough to trigger their fraud alerts.

So I answered the questions and after about 15 minutes the charge was approved and we were on out way


something similar happened after I read in the news that the credit card security at another major retailer had been compromised. My bank told me that although my card wasnt used by the bad guys, I had used it at this particular retailer and it was likely that the bad guys had it and they did say it was a government agency that had discovered this data breach and that notified the bank. My card was closed and they sent me a new one.

Never once did I consider these calls and the questions a scam of any sort. Just the opposite in fact. They were trying to protect their customers against the bad guys.
 

presley

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Bogey, is it possible that you and/or your son has fraud alerts set up or a credit freeze? I know since I've added fraud alerts, my own banks have to ask me line of questions to identify me.

Regarding your concern, I'd be very angry and annoyed if they wouldn't tell me which government agency, too. Most likely IRS as I know of no others that would do something like that unless it was a Homeland Security issue.
 

Kal

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That was my concern as well.

Why would I need to answer questions over the phone on a call made to me, not one that I had originated ?

-

If I get that call I'm going to forward it to Beaglemom, Esq.
 
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