If you closed the account before the bank credited accrued interest, generally that interest is not paid out, this is known as forfeiture of interest. However, the bank must disclose this policy in the account agreement you received when you opened the account. Review your account agreement to verify your banks policy.

No user commented in " I closed an interest bearing account I had with my bank, but the bank did not pay me all the accrued interest that should have be due. Can they do this? "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)