Businesses that provide bank accounts are generally entitled to close them – just as their customers are. The Manager Bank. But you should treat your customers fairly. First published on BankersOnline.com 10/22/07 Credit card accounts and other loans are not generally “reopened”. When closing a bank account online, both account holders may be asked to log in separately. My bank account number is 42534376786545 which have present status as inactive as there has not been any transaction since last one year. You shouldn’t close an account because of unfair bias or unlawful discrimination. The consequences of having your bank close one of your accounts can stay with you for a long time. If the bank used section 203.7(b)(3) to consider accrued but unpaid interest as forfeited at the time the account was closed, the reopening of the account must be treated as a new account for disclosure purposes (see Comment 1(iv) to section 230.4(a)(1) in the Regulation DD Commentary. They can either refuse the transfer / return the money, or they can optionally re-open your account so they get money (makes more sense for them). You can reactivate an inactive account by initiating new transactions, and if your account is closed for dormancy, you can typically reopen it by contacting your local bank branch. Once you’re at a zero balance, just visit your branch (with ID handy) and fill out the appropriate form. If your bank closed your account, you might be panicking, but try to stay calm and call your bank's customer service number to find out what's going on. Yes, it can be reopened. By continuing to use this site you consent to the use of cookies on your device as described in our cookie policy unless you have disabled them. Usually accounts are closed because you are significantly overdrawn, have had frequent overdrafts, or have bounced a number of checks. Can the bank/credit union do that? Request for Reopen Bank Account. And you shouldn’t usually close an account without giving reasonable notice. The score change is likely nothing to do with open or closed status. Reasons banks close accounts may include inactivity, low balances and instances where their customer's actions have been deemed as posing a specific risk to the institution.These risks include monetary losses, as well as the potential of fraudulent activity. Banks may reopen Closed Bank Accounts under certain circumstances. It is, however, in one of your agreements that they reserve the right to re-open a closed account in order to receive the deposit. The bank/credit union closed my checking account even though I did not want them to. - Answered by a verified Lawyer. Is it legal for a bank to reopen a closed account without notification? However, banks also can close accounts at their discretion, even if the owner has kept the account in good standing. Yes, a bank or credit union can close your account without your permission. That is you may close a CC account with bank XYZ, and later call to reopen, but the reality is a brand new account is opened. The removal of the delinquency would only be positive, and change of open/closed status is not a scoring factor. If your account is closed due to excessive overdrafts, you may be able to reopen it by bringing the account balance positive and paying any associated fees. A Closed Account Can Stay With You. In your case your ex-wife is perfectly within her rights to open a CC account with the institution in question. It is respectfully stated that I am a bank account holder in your branch. If you’re closing a joint bank account, you can do that without permission from the other account holder. Regardless, it should not have had a negative impact on your score. If the account is revolving, yes, it can be reopened and then closed again by the creditor. 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