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I suppose that is it, that if the volume isn't there then even the smallest risk is too much for the bank to bother with. So they just terminate. In a previous
by geomark 7y ago
I suppose that is it, that if the volume isn't there then even the smallest risk is too much for the bank to bother with. So they just terminate.
In a previous life I administered websites for a number of different businesses. One was a dating site that opened a small business account at a bank and then a couple weeks later the bank abruptly terminated their account, stating that they were not equipped to service "entertainment" business accounts. I guess their real reason was they considered there to be some risk that there would be soliciting going on and it wasn't worth the bother for the bank. The bank was very brash about it, stating that they can close an account at anytime for any reason.