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Comment by ah-topics | Hacker News Reader

Posted because it's similar to the "Stripe/Twitter/Facebook closed my account" questions.

Anyone in finance know how this can happen? Maybe they thought the check was fraud, but why?

I want to echo the Reddit comment saying to use a credit union. Wells fargo is such an unpleasant bank and I remember when I first started working how they just eroded my account balance away with fees for low balance, not direct depositing, “overdraft”, etc.

It’s possible that there is something on your chexsystems record that is related to their decision as well. They serve as something similar to a credit reporting agency specifically for banks. Try to get your record from them; they’ll mail it in a letter that will take weeks to arrive but perhaps that helps answer the “why” in your original question.

Edit: chexsystems now allows you to get your report online! You’ll just need your previous addresses from that bank account and drivers license/state ID number. I’d wait a few weeks until Wells Fargo closes account out to try this as the info might be slow to propagate up to the report

Corruption and abuse of power. Banks work closely with the gov to weave laws in their favor. A local bank once showed me the legislation saying, bluntly speaking, they can do whatever they want without an explanation.

I'm still praying for a decentralized banking solution to give contest to these criminals.

One never will without being sanctioned to all hell, or getting into hot water the first time LE fets wind of them being used. Finance is a licensed profession in the United States.

FINCEN and FINRA give not two shakes about your disapproval, sadly.

It's called a local credit union. They still exist (barely) Join one and vote against having it bought out when it comes up in the agm.

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