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socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 39153
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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for socratraser onluWith direct deposit if the account

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for socratraser onlu With direct deposit if the account holder voluntarily closes the account and a direct deposit is made what happens to the direct deposit? Assume that there are no outstanding checks. If you think this is crazy look at the legislators in our country capital


It  occurred  to  me  that  the  money  can  be  withdrawn  when  received.

Hello again,

A direct deposit using the Federal Reserve Electronic Funds Transfer (EFT) system will be rejected if the account is closed. The money will remain in the depositor's account.

Hope this helps.
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