Will banks close your account? 09-07-2023, 06:39 AM
#1
Will banks close your account for having too many purchase reversals?
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(09-07-2023, 12:21 PM)F!xer Wrote:(09-07-2023, 06:39 AM)prekrasnoyemirai Wrote: Will b*nks close your account for having too many purchase reversals?
The only time I've heard of this happening is for people who do direct debit refunds and social / benefits F
(09-07-2023, 02:12 PM)Juice WRLD Wrote:(09-07-2023, 12:21 PM)F!xer Wrote:(09-07-2023, 06:39 AM)prekrasnoyemirai Wrote: Will b*nks close your account for having too many purchase reversals?
The only time I've heard of this happening is for people who do direct debit refunds and social / benefits F
How is direct debit affected? And also what do you mean by social benefits
(09-08-2023, 09:10 PM)prekrasnoyemirai Wrote:(09-07-2023, 02:12 PM)Juice WRLD Wrote:(09-07-2023, 12:21 PM)F!xer Wrote: The only time I've heard of this happening is for people who do direct debit refunds and social / benefits F
How is direct debit affected? And also what do you mean by social benefits
Maybe he means like income support or welfare? I'm not sure why this would increase the chances of your account being closed, possibly because the government would want increased scrutiny on your finances?
(09-09-2023, 06:40 AM)ruonis55 Wrote: It depends on the bank and its rules, like some banks see refunding as illegal activity and highly aware of it. Even if something happens, you first you should get a warning, that's what I got and then I had to promise the bank I would not do that activity again and not abuse their system.You got a warning for only refunds? How many were you doing ?
(09-07-2023, 06:39 AM)prekrasnoyemirai Wrote: Will banks close your account for having too many purchase reversals?Use multiple accounts to spread out them out
(09-09-2023, 07:34 AM)EquitableEngineer Wrote:(09-09-2023, 06:40 AM)ruonis55 Wrote: It depends on the bank and its rules, like some banks see refunding as illegal activity and highly aware of it. Even if something happens, you first you should get a warning, that's what I got and then I had to promise the bank I would not do that activity again and not abuse their system.You got a warning for only refunds? How many were you doing ?
(09-07-2023, 06:39 AM)prekrasnoyemirai Wrote: Will banks close your account for having too many purchase reversals?Use multiple accounts to spread out them out