Checking or savings account -- Closing an account -- Complaint #9701183
Complaint Overview
Complaint ID: 9701183
Company: First Merchants Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Closing an account
Sub-Issue: Can't close your account
State: Arkansas
ZIP Code: XXXXX
Date Received: 2024-08-02T12:00:00-05:00
Date Sent to Company: 2024-08-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Starting from XX/XX/2024, I made endless calls to First Merchants Bank ( Ohio ) requesting to close my checking account and get a refund for the monthly dormant fee of {$5.00} per month. I did get a refund for the dormant fee for XX/XX/2024 and several proceeding years. However, I have been still charged the monthly dormant fee in XXXX 2024 and onward. The dormant fees starting from XXXX 2024 should not be charged because I clearly had XXXX activities on my account ( XXXX separate despsits from another bank ). The rule of the banks is that is an account has no activity for XXXX consecutive months, there will be a dormant fee. In my case, since I had activities in XXXX 2024, I should not be charged for the dormant fee in XXXX 2024 and the following months. Initially, the manager said that the account would be closed soon. Then, in late XXXX, they requested a notarized letter. I sent the notarized letter to the XXXX branch of First Merchants Bank. One manager confirmed that he received the physical letter and that he would close my account soon. I waited several weeks after that, only finding that the account was not closed. I called the branch many more times, and they said that the specific manager who received the notarized letter no longer worked in the branch and that the other managers would not locate the notarized letter. However, they added that since they indeed received the letter before, they would still go ahead and close my account. I waited another XXXX months. During this two-month period, I called the bank so many times, and each time, I was told that the account would be closed soon. In fact, the account did not get closed during the XXXX period. I called the branch again, and at that time, they mentioned that I just needed to sign a Request for Early Charge Off of a Deposit Account form. I immediately signed the form and returned the form to the manager. They finally received the form and said that my account would be closed soon. Then, in early XXXX, I found that the account was still not closed. I called the branch again, and the manager assured me many times that the account would be very definitely closed in the coming week or at the latest in the XXXX XXXXXXXX of XXXX. I waited for another XXXX months. In XXXX. I checked online and found that the checking account was still open. I called the branch again twice in XXXX. They said that as long as I could send a secure message from my online banking requesting the checking account, the account would be closed soon. I sent the secure message right away and waited for several days. The account was still not closed. I called the branch again and finally talked to a higher-level manager. The higher-level manager said that I would need to send them a notarized letter again since they could not find the previous notarized letter. She said that once she receives the letter, she will close athe account and refund me for the dormant fees. I have sent the required notarized letter using USPS-certified mail. On XX/XX/2024, the higher-level manager called me and mentioned that she just closed my account. I then asked her about the dormant fee. She said that she forgot to refund me for the fee before closing the account and since she just closed the account, there is no way to issue a refund.
Frequently Asked Questions
What is Complaint #9701183 about?
Complaint #9701183 was filed against First Merchants Corporation regarding Checking or savings account specifically about Closing an account. It was received by the CFPB on 2024-08-02T12:00:00-05:00.
How did First Merchants Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against First Merchants Corporation?
Yes, visit the First Merchants Corporation company profile at readthecomplaint.com/company/first-merchants-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.