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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.

Jason_08
Jason_08

For those of you that got hit with the fraud charges, any update? I got the provisional credit, but the case was still going according to them. I was supposed to get an affidavit, but never got it. And when I called, they said that it looks like they don’t need one from me, and are awaiting a response from the merchant? Seems kind of odd to be going to the merchant when it seems like the problem is on PenFed’s end.

Roger Pavlik
Roger Pavlik

I tried to dispute my fraud charge and was told I needed to call PenFed separately to add my birthday to my account because they couldn’t validate that it was truly me calling in otherwise.

Ridiculous. I’ll just eat the $11 fraudulent charge and close it out.

Bill
Bill

Did you call to cancel your debit card? Seems strange that they wouldn’t take care of the fraudulent charge automatically. On the other hand, calling to get your account info fixed doesn’t seem like it should be all that difficult.

Bill
Bill

I got the affidavit but did not complete it. I closed the checking account and Penfed has now closed our savings/share accounts so I consider it closed.

Jason_08
Jason_08

the thought about closing it out came to my mind, but I am not sure that would be a good course of action? If not following through they could reverse the fraud case since no follow through and they can mark the account as not paid via chex which would be much much worse.

It’s like cancelling a credit card, if any charges still come through after you close, you are still responsible for it.

Bill
Bill

Did anyone have their savings account closed by Penfed after closing your checking account? P2 and I each got a pair of emails today saying that online statements and tax statements had been disabled. When I logged in to see what was going on, the system told me “You have no active accounts on PenFed Online.”. I had left $5 in the savings account and the quarterly statement just closed.

Bill
Bill

Update — P2 and I got $5 checks in the mail today from Penfed. No accompanying letter explaining why the accounts were closed. And I’m still getting emails from them advertising their services.

AllenW
AllenW

PenFed Secure message doesnt close both shared and checking, had attempted to close 2 accounts and neither one had the shared closed. Gave explicit instructions to do so.

AllenW
AllenW

Are others having problems getting them to close the account or am I being impatient. It’s been 3 business days and still shows shared.

Bill
Bill

I didn’t have any problems closing the checking account via message.

AskingForInfo
AskingForInfo

2 questions if anyone can help: – Has anyone else had this issue with Penfed where they can log in via the app and see the regular share account (with a negative -$5 balance), but when they log in to the website it says no accounts are open? – Will having the negative balance showing on the Access America checking account (for a day) and now the regular share account too affect my ChexSystems report, or any other report, in any way? (not too familiar with what is reported there). ——- So I got my bonus, and called to close my account about 1-2 weeks later. I emailed them and they told me that in order to close my account, my Access America checking account needs to have a $0 balance. I asked if that would lead to the $10 fee, and they said no since my intention was to close the account. I kept my money in the checking account to be safe and called to close my account. The person from customer service stated that she can transfer the money to my linked bank account and then start the closing process. My money went to my linked bank account, and then a day later I get a notification from mint that I was charged a bank fee, and it was the $10 fee for Penfed, so I was showing a negative balance (-$10). I call Penfed to ask about this and they say this was a mistake and quickly reverse this, and then they say that interrupted the closing process, but now that it’s removed, they’ll be able to close my account. I think I checked a day later and my Access America account was now closed, but the regular share account was still open. I call Penfed again and they say that the reason my account was not closed was because my debit card was not closed, so the customer service representative then says my account will be closed in 24-48 hours. The weird thing now is that when I log in via the iOS app, I can still see the regular share account and it is showing a balance of -$5, but when I log in via the website, I get a message that says I do not have any open accounts. I emailed Penfed about this problem and they said that my accounts are closed,… Read more »

arizonapv
arizonapv

It takes time for the account closure to be processed. Sometimes the account will stay open with a zero balance and you might still be able to log in and see it until you receive the closing statement. It’s a good idea to periodically check though. Mistakes do happen, as you saw with the $10 fee. The temporary negative balances will not affect your Chex, or any other report, in any way.

TomJ
TomJ

I called in to close both accounts. But, after a day, all they did was transfer my checking balance to my share balance. I still have the message that I haven’t yet signed my signature card. I’ve signed it at least 5 times so far and filled out the forms and mailed them in.

MisterBill
MisterBill

My wife’s account was one of those that got hit with a fraudulent charge from Uber Eats. The account was credited after a couple of weeks. Yesterday, a week or two after getting the credit, they sent an unauthorized charges claim form that they want her to fill out and mail back — and the envelope they included is not postage paid! They actually want us to pay for their lapse in security. Amazing.

DP719
DP719

Same boat. Submitted the signed document (and the original letter) just now using their website’s secure upload. No idea if it will get to the fraud department but this is all their fault!

Jason_08
Jason_08

did you just take a picture of it and upload it?

DP719
DP719

Jason_08 Correct.

DP719
DP719

Received PenFed’s email today: ‘We have reviewed the documents you provided for the reference number below and completed your request’. Takes a while but at least they acknowledge receipt.

TomJ
TomJ

Personally, I never open an account just to get the bonus and then close it. When I open an account, my intent is to keep it and use it. However, I will make an exception with PenFed. This is the worse checking account I have ever had! Anyone else feel that way? I’ve had nothing but problems with PenFed since I opened the account.

shoreman
shoreman

I agree with your first two statements. However, months after receiving my signature card (which I transmitted to them three times via different means and which they have repeatedly told me they received), there is still that red ‘note’ underneath my savings account stating otherwise. Not enough to make me want to close my account (no harm…no foul) but incredibly annoying…to the point I don’t even like logging in to the site so I don’t have to see it. Thankfully, I receive email balance alerts so I don’t have to.

TomJ
TomJ

Interesting. I had the same problem with signature card. After mailing it in several times, I emailed them and the response was “when did you send it in?” After a withdrawal was blocked, I called and got a good explanation that I was filling out the paperwork wrong so I sent it in again but still have that message. When I tried to take some money out recently, I was blocked again.

Earlier, I tried to consolidate my other student loan but they never communicated with me. I kept contacting them and finding out that they needed more income verification. I sent in the verification but still never heard back. So, I contacted them and was told that they were having trouble verifying some income. At that point, I gave up. I figured that nobody at SoFi ever heard of a “housing allowance.”

Victor
Victor

I closed my checking account but it looks like that the regular share account is still open. Do you guys close both or only the checking? What will happen if leaving the share account open with zero dollars in it?

HarryTheFirstHarry
HarryTheFirstHarry

You cannot leave 0 dollars. $5 is min balance for the savings. I have left it that way for P2 as Penfed could generate DD simulation for other banks.

providing info
providing info

In order to completely close the account, you have to close both accounts. I believe if you keep the regular share (savings account) open you can still get Penfed products like a credit card.

BB
BB

Opened on 5/4, met requirements within a week, and not seeing bonus on either my or P2’s accounts. Anyone else still waiting?

BB
BB

Somehow I didn’t document the debit card purchase requirement in my spreadsheet. Whoops.

Sam
Sam

So, ppl who got the bonus can go ahead and close the account? No early closure penalty?
Thanks

Jatan
Jatan

Closed mine after getting the bonus and there was no penalty — lots of people below reporting fraudulent charges on their debit cards so keep an eye on your account if you plan to keep it open

Kevin
Kevin

How did you close your account? Can it be done via a secure message or email?

Jatan
Jatan

Member number you can find in your online statement if you don’t remember — I filled out the form and asked them to close my checking account:

penfed.org/forms/help

Kevin
Kevin

Great, thanks!

Kevin
Kevin

Can confirm that the above method works!

Chris
Chris

I got contacted about fraudulent changes over the summer to my account, changed my debit card number

HarryTheFirstHarry
HarryTheFirstHarry

Yeah, P2 also closed theirs after getting the bonus and no fee was charged. Closed only checking though leaving savings open with $5 in it. Planning to leave it as it in case as it could be useful to simulate DD for Chase in the future.
Used the secure form to request close. Though it says secure form it does not feel secure as there is no way to tell it is going from inside your account. Took couple days to get a response and then a further week to actually see the account disappear from the list, but its gone now.