3 On Your Side

Your bank just may not be that into you

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A bank does not have to give you a reason for closing your account and severing ties with you. (Source: 3TV) A bank does not have to give you a reason for closing your account and severing ties with you. (Source: 3TV)

In the movie, "He's Just Not That Into You," one of the characters keeps misinterpreting whether the men in her life are interested in her.

But maybe it's actually your bank that's not really into you. 

Hilario Ceron found out recently that his bank wasn't into him when they abruptly closed his accounts.  

"The bottom line is that I would like to know why it was closed," Ceron told 3 On Your Side.

Ceron said he had a great relationship with Chase Bank for years. He said he kept more than $60,000 in two different accounts and was a solid customer.

But Ceron recently received a letter from Chase bank that simply read, "... we have decided to end our relationship with you."

Ceron, much like the characters in the movie, said he feels rejected and confused.

"What did I do?" he asked Chase.  "I said, 'What do you mean you cannot give me a reason?  It's not like it's top secret, you know.  Did I do something wrong?'"  

Ceron is a military veteran who served in the United States Army.  He was ruled 100-percent disabled, and his disability checks are automatically deposited into his Chase accounts. At least they were.

Ceron said he had to scramble to find another bank to make sure his deposits weren't interrupted.

The process left him frustrated. 

"They said they do not have to give me a reason as to why they closed my account," he said.

3 On Your Side contacted Chase Bank, but for privacy reasons, it refused to discuss why it closed Ceron's accounts.

The only thing Chase did was email 3 On Your Side a link from U.S. Treasury Department that says, "...banks may close deposit accounts for any reason ... and without notice."

Ceron says if it can happen to him, then it can happen to anyone. He said Chase Bank has lost a good customer. 

"I think overall, I am very responsible with my financial affairs," he said.
When a consumer opens a bank account, there is quite a bit of paperwork to sign. At least one of those signatures means you're agreeing to deal with the bank's terms and conditions. It's in those terms and conditions that the bank explains how it can terminate its relationship with you at any time, and it does not have to give you a reason.

Common reasons for ending a relationship include frequently bounced checks or consistently causing your account to be overdrawn.

Ceron, however, said he never did any of that.  Regardless, banks don't have to give you a reason for closing your account.

Copyright 2015 KTVK (KPHO Broadcasting Corporation). All rights reserved.

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