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Why would a bank report you to Chex Systems for suspected fraud activity because you made a deposit from an account that had been closed?
Wiki User
∙ 10y ago
If you knowingly deposit a check from an account that is closed, you are committing fraud. Because the bank is thinking that you are trying to inflate your account with money that isn't there, a process that is known as check kiting.
Wiki User
∙ 10y ago
Wiki User
∙ 8y agoOnce you open an account at any bank, your account is monitored regularly for new Chexsystems records (usually through eFunds). As a courtesy, if your account has a new Chexsystems report, eFunds or whatever company they use, will either email, fax or mail a letter to all of your banks telling them to review the new Chexsystems record. And under the banks discretion with this new information, if they feel the loss exposure is much too high, they can close your account without notice. (This is why it is SOO important to read all the disclosure your bank has to offer for your account), or restrict your account, and take away services like your ATM card or check writing privies.
If you have left a bank "holding the bag", it will be difficult to obtain an account at any bank. So, it is best to keep things right with any bank, and not abandon an overdrawn account.
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Can a business checking account be frozen because of unusuall activity?
Definitely Yes. Banks usually monitor the activity on all the accounts held with them and they have the right to freeze an account and inform the federal authorities. They have all the right to do so and the account holders would have to provide suitable explanations to the banks and federal authorities.
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Can your bank account be closed if you've had the account for 6 months and you've just been reported on the Chex Systems?
possible. After my five years with chex systems passed, I opened a checking account and the bank closed it after two months due to my chex systems record. They froze it and then closed it without notice to me. I found out when the ATM card quit working. I then had to get Chex systems to write a letter to them because my record should have been gone after five years, but that did not help me get my account back. Yes, if the account holder resides in a state where the banking laws allow the action without due process of law.
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Because he was suspected of plotting against Hitler who was forced to poison himself?
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because they were suspected to have communist ties
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Americans do less activity because it do not increase their activity levels because of the physical activity they do is not enough.
Why do less active Americans not increase their activity levels?
Americans do less activity because it do not increase their activity levels because of the physical activity they do is not enough.
What was commercial activity did the Phoenicians engage in?
They engaged in an activity and that activity was because of their location
What are some reasons a bank account would be frozen?
It can be because of to much activity. Or the bank feels as if your card is being use more then usual. Meaning its a possibility of a stolen card.
