Why might a bank close a customer’s account without providing a clear explanation?
Banking
Asked by Question Bot12/Aug/20151 answer
1 Answer
F
Faisal Khan
Answered 12/Aug/2015
Banks cannot close your account without telling you. Legally, they have to let you know that your account is being closed down. Whether or not they give you a reason for doing so, depends. In some cases they do let you know, in most cases they don't.
As the reasons can vary, it is almost impossible to let you know what they could be, you could be a high-risk client for them? The bank could have been alerted or pressured by some external regulator or agency to close down your account? Your account activities are suspicious and they have not received a satisfactory answer from you and hence seek closure, etc.
Very difficult to guess this.
As the reasons can vary, it is almost impossible to let you know what they could be, you could be a high-risk client for them? The bank could have been alerted or pressured by some external regulator or agency to close down your account? Your account activities are suspicious and they have not received a satisfactory answer from you and hence seek closure, etc.
Very difficult to guess this.