Imagine waking up to find your bank account closed without warning. This is exactly what happened to a banking customer recently, leaving him in shock and confusion.
The Unsettling Discovery
The customer first became aware of the issue when he was unable to access his balance screen. His confusion turned to disbelief when he was later informed by the bank that his account was inexplicably closed.
The Bank’s Response
The bank confirmed that they had taken the drastic measure of closing the account, without offering any further specifics. They assured the customer that any remaining funds would be returned by check within five to 10 business days. They also committed to transferring any income made that day through the Branch app.
Reddit Users React
The customer shared his ordeal on Reddit, where it was met with widespread consternation. Many commenters found the situation deeply unsettling and voiced concerns over the reliability of banking apps.
Why Do Banks Close Accounts?
Banks have the discretion to close accounts for a varying list of reasons. These can range from account inactivity, overdrafts, and suspicious activity, to violation of bank policies or unpaid fees and charges.
Another Case of Unjust Account Closure
In a related incident, another banking customer had their account closed by Chase and Bank of America under suspicion of fraudulent activity. While Chase later admitted that this was a mistake, the customer's money has yet to be returned.