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H.P.
H.P.

I called today 3/15/21 to close my PenFed Checking and Saving accounts that were opened in May 2020. Despite the horror experiences that I read in this thread, mine went pretty smoothly. The lady I talked to said she would move the $550 in my checking to my saving, then close both accounts and one check will be sent in a few days. I asked if I’d be charged a $10 service fee since the checking account balance is now zero. She said “No, your accounts will be closed today and there will be no service charge”. When I asked for some sort of confirmation of the call, she gave me her name and her employee number.

A few hours later, I got several email stating that the mail setting for my statements and tax documents had been changed from email to snail mail. Not wanting to be charged for the hardcopy statements like someone mentioned, I logged in to change it back but got a message that I have no active accounts. Looks like the accounts were closed as requested, and the change in mail setting was for the final statement and future tax document.

jp P thoms
jp P thoms

wrong thread

pedro
pedro

Do they mail out a 1099 ? I got an email saying they have my tax form, but it won’t let me login since my account is closed.

Larry
Larry

My 1099 arrived in today’s mail.

Grant
Grant

Why would a 1099 be issued? This was a swipe based promo as it required debit card purchases.

Eric
Eric

What makes you think the $200 bonus received is not considered taxable interest? BTW, it is as I received a 1099 sometime this week.

Sam Y.
Sam Y.

Still waiting for mine to come in.

DP719
DP719

I also haven’t received paper 1099 but was able to view it online.

Sam Y.
Sam Y.

Yeah, if your account is closed, the online account is disabled. So no way for those with closed account to see it.

Jason
Jason

Sill no 1099 for me…

Sam Y.
Sam Y.

Same.

newbie
newbie

its gonna be hit or miss. p1 did not receive but p2 did. p1 went online sure it was uploaded. it will be 1099-INT if anyone wondering

Master Allan
Master Allan

What an ordeal. Clear some time on your calendar.

Opened May 2020. Messaged to cancel 12/23/20 – got some repetitive inquiry if I really wanted to.
12/31/20 Called to Cancel
1/5/21 Secure messaged to confirm cancellation and received confirmation. PenFed moved funds to savings
1/13/21 – $10 service charge and $2 paper statement fee (WTF? I never had this set)
1/14/21 – Called again and insisted charges are to be reversed and “The check (remaining balance) is going out today.” Definitely disorganized. What you hear the 1st, 2nd, or maybe 3rd time is not what ends up happening.

M
M

The checking account was finally closed after almost two weeks and 4 phone calls. I think what finally worked was asking for a supervisor. The statement had closed with a $10 negative balance between the time I made the request and the time the account was actually closed.

Justin
Justin

Anyone have a followup/resolution to this Uber fraud charge? I got the bonus three months ago and left the account untouched at a balance of 500.01 to waive the monthly fee. I checked today and realized I had two Uber Amsterdam fraud charges as well. As a result, I’ve also been charged three monthly fees since then. Will have to call them tomorrow to sort this out.

JP
JP

Found out same today…$9.14 uber amsterdam…no email no phone call notifications and two monthly service charges of $10… :facepalm:

Tomtoo
Tomtoo

Same happened to me in Sept 2020. The Uber Amsterdam charges were over $100 in a 3 day period by the time I caught it (one charge was $64, what a ride!). Luckily, my balance at the time didn’t go below $500.

bonji
bonji

I just had the worst experience with them. I called to close the accounts, but did not see them closed the next day. So I called again, the representative said she didn’t see any request submitted for me. Ok, so I let her submit a request again, and I even got the case number from her. Three days later, I got charged a 10 dollar service fee and I have a negative balence on my account. In the meantime, I was trying to contact them by secure messages. I thought I was very clear that I wanted my accounts closed, but they replied 2 days later asking me are you sure you want to close the accounts? I said yes please. It took them another 2 days to write back to me and ask me where do I want the check to be mailed to. Never thought it would be so difficult to close a bank account.

Nicky
Nicky

Just came by to say exactly the same thing. They had even told me by secure message they received my request and are closing it. I see the $10 service fee and negative balance this morning, another phone call coming back.

tikachu
tikachu

5/14 – account opened with $500 on WF, coded as purchase
5/25 – requirements met (pushed an additional 1200 after initial deposit)
8/28 – bonus posted

Eric
Eric

For now I’ve decided to keep this account and have $500 in the account to prevent the monthly fee. I’d like to leave a much smaller balance. Have any of you confirmed that any regular bank transfers from Chase, WF, etc. work to waive the monthly fee?

DP719
DP719

Eric ACH from Chase checking works to waive the monthly fee for me.

Eric
Eric

Thanks. I will try that in November.

Alex
Alex

Here’s a fun one for you. I got my bonus and sent TWO secure messages asking to close both my checking and savings accounts in early September. Apparently that never happened (I should have been diligent in monitoring them). Anyway, I got a letter today that my account was CLOSED because it was OVERDRAFTED!! Overdrafted by one of these ridiculous Uber Amsterdam charges. I AM FLOORED. PenFed seemed pleasant enough when I called but this is going to be a total mess to get straightened out.