Recently I have been depositing check printout from buying groups to my Ally bank account. The checks are infrequent and I am not doing high volume deposits either so it was a surprise when Ally sent out a notice telling me to stop depositing checks from buying group. That’s right, they explicitly said buying group in the letter:
A recent review of account ending in xxxx indicated there were transactions posted to your account that don’t appear to be for “personal or household” use. This activity has been identified as buying group related. As written in our Deposit Agreement, accounts are only available for personal, family, and household purposes.
We as that you continue to use your account only for personal, family, and household needs and transition the buying group activity to another financial institution. We may close your account if you use it for any business or other non-personal, family or household purposes.
Closing Thoughts
Obviously it makes sense that they don’t want users using bank account for non-personal transactions but I am a little surprised that they knew these checks belonged to buying groups. I suppose these groups have become too big at this point.
1 comment
Close the account.