I had an online checking account (no local bank) & after I went bankrupt, they cut off my access. can i sue?
Question : I had an online checking account (no local bank) & after I went bankrupt, they cut off my access. can i sue?
They say they’re still giving me access since they send statements & I can call during regular business hours to make transactions, however I can no longer deposit at home or pay bills online or even add anyone to my account with a signature card. After 7 years, they say they will review my case and decide if i’m allowed online “privileges” again. Do I have any legal recourse since they have effectively cut off my direct access to my money?
online business checking account
Best answer:
Answer by shadowsthathunt
If you declare yourself bankrupt, any money in the bank is not yours to spend, that money goes to paying off some of the bills you have outstanding. Once that money is gone, the companies are more or less out of luck. However, it will now be almost impossible for you to open a new bank account somewhere else, to get credit cards or loans. Right now, you are more or less looking at keeping your cash under your mattress until your credit clears up. Good luck.
I don’t believe you have any legal right to 24/7 bank access. Read over carefully all the fine print in the agreements you signed when you first got your account with them, and I’m sure you’ll find that they are well within their rights to restrict your account as they have.
You’re always welcome to open an account at a different bank, if you can find better terms somewhere else.