Will your checking survive if Boa decides to cut all your credit line?

Not in my situation. At least they allowed me to just close my accounts instead of having them frozen then closed. But, they did report to ChexSystems.

They let you close your checking & report it to Chex? If you don't mind sharing, was this for just depositing MOs or something else?

one of my MS buddies have a similar experience she told us doing our regular MS meetings. She deposited MOs which she thought had already cleared (apparently the MOs were put on hold fwr) so when she did ACH pulls from her CC accounts, her account went red. BoA closed her account and placed derogatory remarks on her chexsystem report; from then on, she couldn't open more bank accounts. She tried to dispute that report but BoA wouldn't budge. She has "lost" a lot of bank bonuses for the past year; she told us to beware of the constrictor species!

This is good advice. I always wait until the funds are no longer pending and are fully deposited and available in my account before using them. Never want to risk an issue like the above.

It was depositing MOs, which changed the profile of types of deposits in my account. And because equal amounts of MOs were coming in to payments going out, it raised a red flag.

What did they report to Chex?

Does that mean she was only leaving $$ for a few days?

Key Bank & Huntington closed my account when I was doing an ACH to WF when I had the 5% card.

I've learned to leave it for at least a few weeks and to vary the amount being pulled from the deposit account.

They reported "potential/suspected fraudulent activity". I ended up going into arbitration with them to get that cleared, but that story is for a different day.

she told us the amount of her deposits were almost equal to her ACH pulls leaving the account with very little amounts just to keep it open. prior to that closure, I warned the group about this snake-like bank having a bad reputation when it comes to MO deposits so when it happened to her she said I was right all along; hindsight is 20/20. Now, I still warn them about WMBP shutdowns from the major Bs, most of them are now listening.

I prefer the local banks and CUs with shared branching for both MS and nonMS banking.

So what I read is, your friend didn't make sure the money was in her account before pulling the money out? Is that correct?

I've got the same ChexSystem report, the exact wording was "suspicious/fraudulent activity" from Chase during the coin days. Ended up having it cleared after filing small claim. It was not fun going through this.

Gotta remember that Chase has always looked closely at keeping money laundering to a minimum. Back in the day of Bernie Madoff (1998-2005) they cut him off after laundering $76 billion. Perhaps you were just moving too much money?

As I recall the fines were about $2 billion for Chase's starring role in BernieGate, but I forgot whether any Chase executives were thrown from their tower and told to flap their arms and fly like a bird.:p

Bummer of a day!

1. SHUTdn by chs3 - all 10 cc for 2 ppl clsd
2. Length of account before closure and CL? 2-4yr 8k-15k
3. Average monthly account balance checking and savings? No chs3 checking or savings dpst, used WF and CU. Using 2 bnks may have done it.
4. Volume of ms per month and how many months? 2K for 2 mnths then 5K for 2 mnths on FU. This may have done it.
5. Cycle CL? No
6. Did you BP using both options? No

I have hotel reservations using UR points in Jan and April, so I hope those are ok. Moving all pts to Hyatt.

My impression is that Chase looks closely at certain cards that cost them more and less closely at cards that cost them less.

Sorry it all blew up on you Travelz.