Scotiabank closed bank account and charging service charges

[Takentaken421]

I did my soft landing in August 2019 and opened a bank account in Scotiabank Windsor branch. As a new comer, I was offered 12 months no fee account and 15.95 CAD starting 2nd year if balance is less than 4000 CAD. After soft landing, I moved back to US and have been staying here since then.

Today, when I was checking my online account I was shocked to see zero account balance and bank statements are showing negative balance due to service charges accruing each month. Upon contacting customer service I was told that my account has been closed by branch and I will need to visit branch to know why the account was closed. Since I am in US, visiting the branch is not possible and I am afraid that the negative balance may impact my credit history in future.

Has anyone had the similar issue and could share their experience?

 

[harirajmohan]

I did my soft landing in August 2019 and opened a bank account in Scotiabank Windsor branch. As a new comer, I was offered 12 months no fee account and 15.95 CAD starting 2nd year if balance is less than 4000 CAD. After soft landing, I moved back to US and have been staying here since then.

Today, when I was checking my online account I was shocked to see zero account balance and bank statements are showing negative balance due to service charges accruing each month. Upon contacting customer service I was told that my account has been closed by branch and I will need to visit branch to know why the account was closed. Since I am in US, visiting the branch is not possible and I am afraid that the negative balance may impact my credit history in future.

Has anyone had the similar issue and could share their experience?

Check your credit score and see if any remarks.
I hardly doubt on it. Its not a credit account to report to credit bureau and ask collection agency to collect it. Thats why they closed it as its dormant with negative balance. If you are owing money then they would have already told you to do so. Its a chequing account, not a credit card account.
Seems non issue. We have lot many other bigger problems that cant be solved. So this is not a matter.

 

[DEEPCUR]

Some banks might close the account if there is no activity on it for a certain period. Even though the fees is waived for 12 months, my guess is you might have missed some fine print which would have led to this situation. May be you could try calling the bank branch and see.

 

[skundu73]

TD Canada Trust checking account has no inactivity fees. I had an account with them in Ontario for several years.