Can my bank force me to keep my account open and charge me monthly fees because I have a overdrawn account?

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Can my bank force me to keep my account open and charge me monthly fees because I have a overdrawn account?

I would like to work on paying the balance.

Asked on February 10, 2012 under Bankruptcy Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

You need to check the terms and conditions of the account agreement(s) you've signed with the bank; if those agreements prevent you from closing an account as long as it is overdrawn or there is an unpaid balance on it, or give the bank the discretion to require you to keep the account open in certain circumstances like this, then they can require you to do this. If the agreements are silent on the subject, then you should be able to close the account.

If the account agreements provide for the payment of monthly fees, then as long as the account is open, they can charge them.


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