Q: Can Chime close my account and send an email saying I am not eligible to receive my money back?
Chime closed my account and said I violated their deposit account agreement. They said I can not have my money back its about 800 dollars. I do not understand how I violated anything and they will not provide details or email me back. I am in the military and only used the account for a few transactions back and forth to help family and get paid back.
A:
If Chime closed your account and is withholding your funds, it's important to understand your rights and possible courses of action. Financial institutions, like Chime, often have policies outlined in their account agreements that may allow them to close accounts for certain violations. However, it is unusual for a bank to withhold funds without providing a clear reason or explanation, especially a significant amount like $800.
First, request a detailed explanation from Chime about the specific violation they claim you made. This should be outlined in the deposit account agreement you agreed to when opening the account. Understanding the exact reason for the closure is crucial in determining your next steps.
If their response is unsatisfactory or they fail to provide a clear explanation, you may consider filing a complaint with the Consumer Financial Protection Bureau (CFPB) or seeking legal advice. The CFPB is a government agency that handles complaints about financial products and services, and they can assist in resolving disputes between consumers and financial institutions.
Also, as a member of the military, you might have additional protections under the Servicemembers Civil Relief Act (SCRA). Contacting a legal officer in the military or an attorney experienced in banking and consumer protection laws can provide you with guidance tailored to your specific situation. Remember, it's important to act promptly to ensure your rights are protected and to seek a resolution.
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