US Bank adverse action
Jul 12, 2014, 5:49 pm
#32
Join Date: May 2013
Posts: 939
I've always believed small local banks and CU to be scaredy cats. Where as the BIG 3 (chase, BoA, Citi) and the like could/would tolerate your shinanigans for much longer. I've been shutdown twice by big national chains. Each time it took about a year. Each time there was some irregularity in my banking behavior that brought it all crumbling down. I'm at a point were I don't NEED a local bank to get rid of my MOs but it's extremely convenient to have a B&M to walk into or a check accepting ATM to use late at night.
Jul 12, 2014, 6:24 pm
#33
Join Date: May 2006
Posts: 355
All they need to do is deem your activity as suspicious "out of an abundance of caution" and use AML regs as an excuse to kick you to the curb penalty free.
Jul 13, 2014, 10:23 am
#34
Join Date: Sep 2013
Posts: 156
I also got the letter yesterday with same details. It will be closed in 10 days. I have not much MO deposit last one month. But in apr, may I did heavy volume txn. Looks they are upset with less volume in jun and closing 
. I will close it on monday. I have flex perk and cash+ cc with them. Not sure what happens to them.
. I will close it on monday. I have flex perk and cash+ cc with them. Not sure what happens to them.
Jul 13, 2014, 10:48 am
#35
Join Date: Oct 2013
Location: WAS
Programs: SPG Plat. Marriott Plat. Hilton Diamond. Hyatt Diamond. IHG Plat.
Posts: 2,580
Jul 13, 2014, 6:19 pm
#36
Join Date: Feb 2008
Location: MSP
Programs: DL-Polished Aluminum, Air Mobility Command-Chartreuse
Posts: 394
Say 'hi' to the nice folks in Overland Park, KS for me...
Guess I'm a bit of a trend-setter, I received my letter last summer. I'd been depositing 15k every few days, received a call from a branch manager, briefed him straight up, offered to bring in my boxes of receipts/ST statements, he said hold on for now. Closure letter arrived about 3 weeks later.
The CC letter followed about one-two months later; this seems to be an absolute, so if you have both checking and CC I'd start implementing your burn plan for FlexPoints upon receipt of checking closure... though I was able to liquidate after receiving the letter from the CC points. I elected to close my accounts voluntarily.
What caught me off guard was that a family member, for whom I had account access for bill paying while they were in/out of hospital, received a closure notice also. I had done zero MOs into the account, played it straight. This was purely their money.
To their credit, the USB folks reversed the second closure as long as I rescinded access to the second account. Did take a sternly written letter and a business-like phone call, but all ended well.
The CC letter followed about one-two months later; this seems to be an absolute, so if you have both checking and CC I'd start implementing your burn plan for FlexPoints upon receipt of checking closure... though I was able to liquidate after receiving the letter from the CC points. I elected to close my accounts voluntarily.
What caught me off guard was that a family member, for whom I had account access for bill paying while they were in/out of hospital, received a closure notice also. I had done zero MOs into the account, played it straight. This was purely their money.
To their credit, the USB folks reversed the second closure as long as I rescinded access to the second account. Did take a sternly written letter and a business-like phone call, but all ended well.
Jul 13, 2014, 7:20 pm
#37
Original Member
Join Date: May 1998
Posts: 1,139
Just wondered if many have faced closure of US Bank accounts driven by MS on their FlexPoints card, instead of MO deposits into the bank account. I was doing $500 grocery store spend 2 or 3 times a week on the Flexpoints card. But recently I have been using my AMEX Blue Cash at Kroger so much as a result of the $5 Kroger coupon that I have also been using the FlexPoints card to buy $500 a day on it almost every day. The 2% FlexPoints card is not as valuable to me as the AMEX Blue, but it is tempting to use them at the same time when at a grocery store. I would hate to lose the FlexPoints Card since it sometimes generates some pretty good airfare + hotel deals.
Jul 14, 2014, 7:35 am
#38
Join Date: Feb 2003
Location: Khyber Pakhtunkhwa
Posts: 1,929
Jul 14, 2014, 7:51 am
#39
Join Date: Mar 2009
Location: DCA
Programs: FB Gold Privilege
Posts: 413
Exactly the reason why I closed my US account voluntarily. I also hated that pesky monthly fee...always seemed to be able to hit it.
I'm a happy camper with BoA/C1...able to cycle much more money without a single questions asked.
I'm a happy camper with BoA/C1...able to cycle much more money without a single questions asked.
Jul 14, 2014, 11:13 am
#40
Join Date: Dec 2009
Location: DEN
Posts: 502
Anyone with closures have the top tier Platinum checking package? Highly doubt it makes a difference but part of me wants to believe they don't recklessly fire their top tier customers like Chase does without hesitation. Unfortunately, this thread so far is proving otherwise. 
Did you not have a CC with them? They waive monthly fees if you hold one of their CC. With credit limits at or above 25K, the top tier Platinum checking fee is waived.
Did you not have a CC with them? They waive monthly fees if you hold one of their CC. With credit limits at or above 25K, the top tier Platinum checking fee is waived.
Jul 14, 2014, 12:39 pm
#41
Join Date: Sep 2013
Posts: 156
Anyone with closures have the top tier Platinum checking package? Highly doubt it makes a difference but part of me wants to believe they don't recklessly fire their top tier customers like Chase does without hesitation. Unfortunately, this thread so far is proving otherwise.
Did you not have a CC with them? They waive monthly fees if you hold one of their CC. With credit limits at or above 25K, the top tier Platinum checking fee is waived.
Did you not have a CC with them? They waive monthly fees if you hold one of their CC. With credit limits at or above 25K, the top tier Platinum checking fee is waived.
Jul 20, 2014, 6:48 pm
#42
Join Date: Apr 2010
Location: LAX
Posts: 546
BOA, ALY, CHS, WF also report to EWS, might want to take a look at them(http://www.earlywarning.com/consumer-information.html)
Jul 20, 2014, 7:54 pm
#43
Join Date: Apr 2014
Posts: 12
Jul 21, 2014, 2:37 am
#45
Join Date: Mar 2000
Location: Bay Area
Posts: 367
My AA last year was a mirror image of OP's and few others: 4-6K of monthly deposits in cash and MOs
I got the call from the branch and explained it away as a need to pay FlexPerks and CashPlus bills.
After a few months (not a single deposit since) I've got a full AA service: closed banking with a Platinum package, closed CCs a few weeks later.
I did use all cash and most of points; my CCs were working very hard and it was very foolish of me to lose 'em over puny deposit amounts.
In the hindsight I should have just paid all my CC bills in a branch ...
I got the call from the branch and explained it away as a need to pay FlexPerks and CashPlus bills.
After a few months (not a single deposit since) I've got a full AA service: closed banking with a Platinum package, closed CCs a few weeks later.
I did use all cash and most of points; my CCs were working very hard and it was very foolish of me to lose 'em over puny deposit amounts.
In the hindsight I should have just paid all my CC bills in a branch ...