topic Re: NFCU ACCOUNT CLOSURE in Personal Finance

NFCU ACCOUNT CLOSURE

Harvey26 — Sun, 06 Sep 2020 18:59:36 GMT

Went to sign in to my NFCU accounts on Thursday night just to make sure everything was ok. I do not use them anymore kept anout $50 in the account since moving all funds to Chase. Got a message saying my account was locked needed to reset password tried to do that with my debit card got a message to call. Gentleman says I need to speak with security in the morning. Called and was on hold and then my mom comes in and says she tried using her credit and debit card and they were both declined she called and they transfered her to security. So a lady finally comes on the line and asks have I been calling in about my account and I said no I dont even use this account and more she then preceeds to say that my account was closed and the restriction was permenant and that I would need to go to a branch to withdraw my funds. I said why she gave the bs excuse of for security reasons we cant disclose that. So then my mom gets on the phone and so she was like the reason your sons account is closed and yours was restricted is because we have proof that he called in regarding your accounts and my mom said i gave permission she said that it does not matter I needed to be a JOINT OWNER to speak on the account and that I violated their membership terms and condtions by doing so. She sent a code to her phone and unlocked her accounts and has not had a problem since. No love lost for me. I still have Penfed , Andrews, NIH Federal as back up credit unions if I need an auto loan or something.

Re: NFCU ACCOUNT CLOSURE

coldfusion — Sun, 06 Sep 2020 20:15:38 GMT

@Harvey26 wrote:
Went to sign in to my NFCU accounts on Thursday night just to make sure everything was ok. I do not use them anymore kept anout $50 in the account since moving all funds to Chase. Got a message saying my account was locked needed to reset password tried to do that with my debit card got a message to call. Gentleman says I need to speak with security in the morning. Called and was on hold and then my mom comes in and says she tried using her credit and debit card and they were both declined she called and they transfered her to security. So a lady finally comes on the line and asks have I been calling in about my account and I said no I dont even use this account and more she then preceeds to say that my account was closed and the restriction was permenant and that I would need to go to a branch to withdraw my funds. I said why she gave the bs excuse of for security reasons we cant disclose that. So then my mom gets on the phone and so she was like the reason your sons account is closed and yours was restricted is because we have proof that he called in regarding your accounts and my mom said i gave permission she said that it does not matter I needed to be a JOINT OWNER to speak on the account and that I violated their membership terms and condtions by doing so. She sent a code to her phone and unlocked her accounts and has not had a problem since. No love lost for me. I still have Penfed , Andrews, NIH Federal as back up credit unions if I need an auto loan or something.

Technically they're correct but IMO cancelling your account (and presumably your membership) is a bit thin. Sorry to read this.

Moving forward elsewhere if and when this comes up again the typical accepted procedure is to call in with your mother present and have her ID herself and explain to the CSR who you are and that she is authorizing you to speak in her behalf on the call, and then handing you the phone.

Re: NFCU ACCOUNT CLOSURE

Harvey26 — Sun, 06 Sep 2020 21:00:40 GMT

@coldfusion Yeah my mom explained that and she just wasnt trying to hear it my mom was more upset than I was.

Re: NFCU ACCOUNT CLOSURE

M_Smart007 — Sun, 06 Sep 2020 21:57:21 GMT

@Harvey26, Very sorry for your acct. closure

Re: NFCU ACCOUNT CLOSURE

AllZero — Sun, 06 Sep 2020 22:10:11 GMT

@Harvey26 That is unfortunate about your account closer. Your present self may not care. Your future self may? I would suggest seeing what you can do to re-instate your membership.

Re: NFCU ACCOUNT CLOSURE

Anonymous — Mon, 07 Sep 2020 01:50:17 GMT

Wow, sorry to hear. I do this kinda thing for my mom all the time because she doesn't speak the best English and doesn't like to talk on the phone. I didn't realize accounts could be closed for this.

Re: NFCU ACCOUNT CLOSURE

Brian_Earl_Spilner — Mon, 07 Sep 2020 02:03:37 GMT

@Anonymous wrote:
Wow, sorry to hear. I do this kinda thing for my mom all the time because she doesn't speak the best English and doesn't like to talk on the phone. I didn't realize accounts could be closed for this.

It's a privacy violation and they could be sued for disclosing any account information. Certain states allow spouses to have access, but that's about it unless permission is given by the account holder or it's a joint account.

Re: NFCU ACCOUNT CLOSURE

Harvey26 — Mon, 07 Sep 2020 02:41:30 GMT

@AllZero Nope I am not even going to wste my time trying to fight a battle that I am sure I will lose they have been good to me. But no need to cry over spilled milk.

Re: NFCU ACCOUNT CLOSURE

M_Smart007 — Mon, 07 Sep 2020 03:30:33 GMT

@Harvey26 wrote:
@AllZero Nope I am not even going to wste my time trying to fight a battle that I am sure I will lose they have been good to me. But no need to cry over spilled milk.

Ya, it's Probably best to hold off.

Re: NFCU ACCOUNT CLOSURE

sxa001 — Mon, 07 Sep 2020 03:47:15 GMT

@Anonymous wrote:
Wow, sorry to hear. I do this kinda thing for my mom all the time because she doesn't speak the best English and doesn't like to talk on the phone. I didn't realize accounts could be closed for this.

My wife handles a lot of business for her mom for this exact same reason. I guess they need to be a bit more careful about how they go about it, I had never heard of this kind of thing happening but in this day in age where security and privacy are much more important and the amount of fraud that happens I can see banks and other companies cracking down on it. Using the Spanish line and having her mom on the call at all times might be the best way moving forward.

Really sorry to hear the OP lost their account, a lesson learned for sure. I do think that it would be better to fight the battle now if you ever want to fight it later because asking for forgivness later down the road may be more difficult. I know emotions are running high right now, and it is a frustrating situation but the rules are there to protect you and your mother.

Re: NFCU ACCOUNT CLOSURE

Anonymous — Thu, 10 Sep 2020 03:02:34 GMT

This is scary. You have to go to a branch to withdraw your funds? There aren't any branches in my state! I have thousands banked there. Time to move my money, perhaps. 😳

Re: NFCU ACCOUNT CLOSURE

adelphi_sky — Fri, 11 Sep 2020 15:31:58 GMT

This seems a bit extreme. Especially when spouses or parents are involved. My wife does business on my behalf all the time. All she does is hand me the phone and I say yes, she can continue on my behalf, and then everything is cool.

I don't think the OP was intentionally trying to get himself into trouble. I think a little due diligence on the bank, what they do when fraud happens anyway, woud have been beneficial for both parties. If anything, the bank should be at fault for letting their customers get into this situation.

Up front, they could have said, "We abosultely cannot provide any service without sufficient authorization. Please go online and add so-n-so as an authorized agent and call us back." Too simple?

Re: NFCU ACCOUNT CLOSURE

minski — Fri, 11 Sep 2020 18:36:25 GMT

I don't have any unrestricted access to their branches here myself. I was recently contemplating using NF as primary financial institution but it was cases such as this that stopped me and had me seek elsewhere. I still have a lot of money with them now that I haven't yet moved out since one of my CD's ended. I will have to work on that soon.

Re: NFCU ACCOUNT CLOSURE

Harvey26 — Wed, 06 Jan 2021 22:31:02 GMT

@M_Smart007 Update!: Today I called NFCU in regards to my stimulus check which would be deposited there and guy from security dept actually told me why my account was locked and told me they have an appeal process and sent me the document. Will fill out form tonight and have my good friend who is a MLO at NFCU to help me word it the best way. Fingers Crossed!

Re: NFCU ACCOUNT CLOSURE

AverageJoesCredit — Thu, 07 Jan 2021 00:19:46 GMT

Best of luck @Harvey26

Re: NFCU ACCOUNT CLOSURE

AllZero — Thu, 07 Jan 2021 00:46:41 GMT

Good luck! Hope it turns out well.

Re: NFCU ACCOUNT CLOSURE

Harvey26 — Sun, 17 Jan 2021 08:10:36 GMT

@AllZero Got an email @ 2am sat morning at my old email... that appeal was denied. I tried. Will most likely move banking to either penfed or chase.

Re: NFCU ACCOUNT CLOSURE

Toastmaster — Sun, 17 Jan 2021 10:45:39 GMT

See if there is an appeal after the appeal. Yes I know how that sounds but a lot of health insurance plans have multiple levels of appeal sometimes three levels. It's worth it to see an ask. With that said, stories like this make it highly unlikely that I'm going to make nfcu my primary financial institution.

Re: NFCU ACCOUNT CLOSURE

AverageJoesCredit — Sun, 17 Jan 2021 14:18:29 GMT

@Toastmaster wrote:
See if there is an appeal after the appeal. Yes I know how that sounds but a lot of health insurance plans have multiple levels of appeal sometimes three levels. It's worth it to see an ask. With that said, stories like this make it highly unlikely that I'm going to make nfcu my primary financial institution.

Sorry @Harvey26 you tried

@Toastmaster just because this happened to op doesn't mean it would happen to you and in no way should one base their financial being based off one users experience. Navy has been great for many people and im sure some have had bad experiences. You can say that about any bank or FI. It is what it is- Max Holloway

Re: NFCU ACCOUNT CLOSURE

Anonymous — Sun, 17 Jan 2021 14:24:00 GMT

@AverageJoesCredit wrote:
@Toastmaster wrote:
See if there is an appeal after the appeal. Yes I know how that sounds but a lot of health insurance plans have multiple levels of appeal sometimes three levels. It's worth it to see an ask. With that said, stories like this make it highly unlikely that I'm going to make nfcu my primary financial institution.
Sorry @Harvey26 you tried

@Toastmaster just because this happened to op doesn't mean it would happen to you and in no way should one base their financial being based off one users experience. Navy has been great for many people and im sure some have had bad experiences. You can say that about any bank or FI. It is what it is- Max Holloway

There is always more to story. FIs don't just close accounts for the fun of it. They want your money and your business. Booting members is the last thing they want to do. Rules are rules though. Security is security though. Fraud is fraud though. etc. I think it's safe to say anyone that's completely above the line with NFCU will have zero problems.