Why would a bank suddenly close someone's checking account with no notification?

[diva77]

I recently received a check which bounced when I deposited it. The place (a very large organization) that issued the check told me that the bank had suddenly closed the checking account without notice.

How is that possible?

Initials of bank are: WF

[Tipperary]

1. I think you should ask the person who wrote you the check.

That would be my first thought.

[diva77]

3. Good idea, however...

highly doubtful they would divulge anything further knowing the way they operate.

[IndianaDave]

26. I'm pretty sure I saw on the news a couple days ago that WF declared bankruptcy,

or went out of business. Wasn't paying close attention, but I think that's what I heard the announcer say. If I'm wrong, I apologize, but I'm pretty sure that's what was reported. Sorry for your situation, regardless of the cause.

[cwydro]

28. No, they didn't.

[IndianaDave]

30. I do apologize. Don't intend to spread false information.

Maybe it was that the CEO resigned? Really unsure. Sincerely sorry to waste anyone's time.

Dave

[obamanut2012]

31. wrong

[jberryhill]

2. What was the check for?

As in, why were you receiving this check from this organization?

There are several check cashing scams which operate, in part, by the mark receiving a check ostensibly from a large organization.

I doubt it has anything to do with the bank, and more to do with whomever is sending you this check purportedly on behalf of the large organization. Why does this organization owe you money?

[diva77]

4. The organization was a client and I completed a job for them

[jberryhill]

6. Again, that sounds like the context of one of several scams

How did this organization come to engage you?

What sort of work was it?

How long have you been working for this organization?


https://www.fraud.org/fake_check_scams


https://www.consumer.ftc.gov/blog/2018/09/anatomy-fake-check-scam

Anatomy of a fake check scam

[diva77]

15. Thanks for the links - will read up on this

[jberryhill]

19. You might want to tell the story to your bank

...and they will probably inform you that you were almost the victim of a fake check scam.

If this was a one-off contract job for an organization with whom you've never worked, then that's what this already smells like.

Banks do not 'close the account without notice'.

[diva77]

25. I will contact my bank -- I was astonished when "client" claimed the bank had closed the acct.

without notice. Very, very curious (in a not so good way).

[jberryhill]

10. Here's a longer list of common fake check scams

https://www.bbb.org/article/news-releases/18367-dont-cash-that-check-bbb-study-shows-how-fake-check-scams-bait-consumers

Don't Cash That Check: BBB Study Shows How Fake Check Scams Bait Consumers

[customerserviceguy]

24. Wow, that website was an eye opener!

I practically never use checks for anything, I will think long and hard about ever accepting any ever again for anything of value.

[yonder]

5. You left the "T" out of the "WF".

[diva77]

8. That occurred to me, LOL, but I try to use expletives sparingly!

[csziggy]

7. Ask the person that signed the check, ask the CFOor treasurer of the company

If possible present the check in person. at the branch where the account was held. If none of those work, call your local State Attorney's office and ask their advice.

The one time I got a large check (written by the head of a small firm) returned I took it to the branch where the account opened. The teller told, kind of as an aside, that the account was closed "because of the court order." I went home and called the state attorney's office. When I told them the man's name, they asked, "Where is he?" He had a warrant out for felony bad checks.

It turned out the man had already been convicted for felony bad checks, had not returned to court a single, and had written tens of thousands more bad checks. I assisted the authorities in getting him arrested.

Don't mess around - get your money while and if you can! The only reason I got my thousands of dollars was that I had liens on his chldren's horses and had that leverage.

[diva77]

11. Wow - whatta story! Thanks - very helpful. I might try visiting the bank branch.

There is definitely a creepy, sleazy undertone to this client.

[csziggy]

16. Oh - that is just the start of my side of the story

End results - the man spent close to a year in prison in Florida, got transferred to Pennsylvania for trial. I got my money but the next places the horse went to claimed them as abandoned property and sold them. When he was transferred it turned out I was the ONLY victim that had filed charges who got paid - no one else did, plus I know of thousands of other bad checks he left around that people never filed charges on.

I have no patience for people who write bad checks.

[DavidDvorkin]

9. I would not assume that the fault lies with WF.

[diva77]

13. My gut reaction is that it is the fault of the client.

However, WF ain't no angel

[DavidDvorkin]

14. WF is evil

But it's also very easy, because of their reputation for evil, for a flakey client to blame them.

[diva77]

17. The client would win a contest for who is most evil if pitted against WF

[cwydro]

29. Why are you doing business with a client you know is evil?

[Tipperary]

34. Good question.

[safeinOhio]

20. Closed my WF broker account over a year ago.

I was with my broker for quite awhile. He called and begged me to keep him. I told him to move to better outfit and then call me.

[java108]

12. Rhymes with Hell's Cargo?

Figures.

[jberryhill]

18. I'll tell you how this works in the legal profession....

Lawyers get these all of the time.

You get an email which appears to come from a reputable person or company asking you to assert a legal claim on their behalf against someone who is infringing their copyright or whatever. The person or company tells you that they've already contacted the infringer and the infringer agreed to stop, but has not paid an agreed upon settlement of some kind. They might even send you a copy of the settlement agreement. You are asked if you will take it on a generous contingent fee.

Upon sending a demand to the infringer (or whatever legal claim it is about), the infringer will immediately agree to pay the settlement for $X.

The "client" is thrilled, tells you to collect the settlement, take your fee, and send them the rest.

The infringer sends you a check, you deposit the check, and wire the "client" the balance.

Shortly thereafter, your bank reverses the credit they issued when you deposited the check, removes the entire amount from your account, and you find that your contacts with the "client" and the "infringer" are no good. The check was forged, and YOU are on the hook for the full amount.

This happens a lot. While most attorneys are wise to it, the same pattern is used in innumerable work-at-home or independent contractor schemes.

Sometimes the check won't clear, and the person sending the check will have an excuse in order to keep you on the hook for a second attempt.

[fierywoman]

21. In the 90s I was harrassed by a collection company for $250 for about 10 days

from a WF account that was not mine but that had one of my first names, and the person had lived in my apartment building in LA in the 80s. However, I lived in Mexico and Italy in the 80s. The calls were very threatening and rude. I can't wish anything good for that bank.

[diva77]

23. I got out of WF years ago due to bad experiences there. If I told people who my

client was, they would agree, however, that my client would out-evil WF.

[Dorian Gray]

33. Out evil WF?

Why the heck would you do business with Roger Stone?

[marble falls]

22. Sounds typically WF to me!

[okaawhatever]

27. If this client knowingly wrote a check on a closed account, it's considered check fraud and is much

more severe than bouncing a check. In my state it's a felony. While I agree with others that WF could just as easily be to blame, don't assume a very large organization wouldn't go bankrupt or do something that causes the bank to close their account.
Think Trump _____________. Steaks, airlines, university, anything Trump went out of business.

[obamanut2012]

32. Whoever gave you the check is lying and/or running a grift

This has nothing to do with Wells Fargo, it appears, but the check writer.