Checkbook stolen!!!

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SaniAnnie

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Our business checkbook was stolen. About 7 checks were written and accepted at various merchants. The police arrested the guys and our checkbook was returned with the checkbook receipts included with the amounts legible. When I went to our bank to resolve the matter the bank suggested we close the account. Which I intend to do but for several reasons I could not close this account immediately. So I asked if we could stop payments on the checks and the bank stated "no". They said we would still be responsible for the checks and the only option we had was to close the account immediately. May I stress here.... I COULD NOT CLOSE THE ACCOUNT IMMEDIATELY. Until I made some calls notifying certain businesses as to not ruin our business reputation. The bank said my only other option was to let the checks clear and then go in and place forgery charges on them but... it seems I will still loose the money from the checks forged. It seems to me that this bank is looking for the easy solution instead of helping me until I am able to close this account.... Any suggestions?
 
Take a look at the agreement you have with your bank and that will define the situation. Did the bank give you a good reason as to why they could not accommodate you? Sometimes closing an account doesn't mean it will prevent transactions already in progress from occurring. What did they tell you?
 
Your best bet is to simply be honest with your bank. You would have tried freezing the account when you got to know checkbook is stolen. Generally a freeze on your account works, it will only last twenty four hours. This will temporarily stop all checks and debit transactions from going through. As a result you may have items that you have already paid that do not clear the bank as a result of the freeze. Then you need to close your account and to open a new one.
 
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