Oversight in saving can lead to your account getting closed

Widespread check fraud has forced banks to adopt stricter postures with respect to cashing checks. The number of checking accounts that have been “closed for a cause” has been increasing at the rate of 20% per annum. Other reasons for banks being forced to close accounts include sudden financial difficulties that can leave people with little money to withdraw and their checks may bounce. The increased use of debit cards is another reason why checking accounts are being closed.

Go here for an in-depth review of the situation.

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