Bank Changes and mergers

[taterpeeler]

Just fot off the phone with a client that called and said she got a qurt. bill from Unicare and wanted to know why she was not drafted.... after calling Unicare found of the bank had changed routing numbers and stuff therefore the draft came back...

the bank in question i guess has been taken over by another one

this is just an FYI because of all the bank mergers and takeovers... is there a problem brewing that will blindside us? this one just did... not good for our biz...
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UPDATE: yes, the bank changed her acct number and added 3 numbers to her acct number after the takeover.... it was wacovia

 

[seadevil]

This might be something that when contacting your clients, sending out news letters, etc... you might want to remind your clients.

Banks are supposed to give the clients notice of any changes, for any change that can be considered negative, there has to be a minimum of 30 days. Banking customers should know that if their bank changes names, they should contact the bank concerning their automatic drafts.