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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
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Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Is EFT of debt written on closed bank account

Customer Question

Is EFT for discharge of debt written on closed bank account legit ?
Submitted: 1 year ago.
Category: Legal
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
There are many websites out there, mostly run by fringe or sovereign citizen groups, that claim that you can make some type of electronic fund transfer on a closed account, but it is illegal and the claims they make have no actual support in law. If the account is closed then you have no money in the account to transfer, regardless of the claims of the sovereign citizens who believe money in banks is a fallacy, so to make an EFT from an account with no money means no money goes out and as such the payment to discharge the debt is not paid because the creditor receives no money.
Ask people like Wesley Snipes who tried these methods and ended up in prison how legitimate they are. The fringe groups who try to convince people this is legitimate will not tell you about those instances that have landed people who tried these techniques in prison.
They make it all sound so great by MIS-quoting the UCC and ancient cases, but there is not one court in the US that has upheld such a payment as being a legitimate way to satisfy a debt.

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