Why can we not just kill Zombie Accounts?

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We support reforms to the financial marketplace that protect consumers from unscrupulous banks and lenders.

By Consumers Union on Thursday, September 13th, 2012

We’ve told you before about “zombie accounts” – those pesky bank accounts that get re-opened after you think they’re closed.  We’ve found out that Bank of America and Chase both did this to their (former) customers.  But in response to public outcry, Bank of America promised last month that it would stop the practice.

A Chase representative recently told us that the bank no longer re-opens closed accounts unless a customer requests it.  But Chase’s terms and conditions indicate that the bank still “reserves the right” to re-open a closed account.  Why is Chase reserving the right to re-open closed accounts when it claims to have ended this practice?  We don’t get it either.

We need your help to get to the bottom of the mystery.  Are you a former Chase customer who’s had your account re-opened even though you didn’t request it?  Share your story with us!

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