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Nov 15, 2015 · Our question is what can say to the customer to explain why we are closing the account? Answer: The one thing you definitely should not do is accuse the depositor of kiting or any other crime.
Dec 04, 2016 · Answer by John Burnett: "Kiting" is a criminal offense, and it's never a good idea to accuse a customer of such an offense (or even suggest it). It can only backfire on you. There is actually no requirement that you provide a reason for closing a customer's account (unless there's a state law that calls for a reason).
Jun 14, 2013 · <p>We are going to close an account due to suspected check kiting. Do we need to send the customer a letter stating why we are closing their account? If so, what needs to be included in the letter? Could you provide a sample?</p>
Check kiting requires at least two accounts, and very often involves two or even three banks. The money rotates in a complete circular fashion between accounts. Hicks says a kite can take down a...
Nov 27, 2007 · my bank that i had been with for app. 19 years closed my checking accounts and stated that we were kiting checks. my bank does direct withdrawal from my other bank and first bank recieved their funds … read more
Apr 15, 2019 · Once fraud is noted in your ChexSystems file, it will be very difficult to open a checking or savings accounts. 3. Check Kiting. The FBI defines check kiting as “a scheme which artificially inflates bank account balances, in accounts that are under common control, for purposes of obtaining unauthorized use of bank funds, through the ...
May 07, 2019 · Kiting is the fraudulent use of a financial instrument such as a check to obtain additional credit that is not authorized. There are two variants of kiting:
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