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Many checking accounts charge a monthly fee if you don't maintain a minimum balance or other qualifications. However, what happens if you have a $0 balance and they can't deduct the monthly fee from your balance? (Similarly, some accounts have an early closure fee for closing an account within 6 months... but how can it be charged to you if you have a $0 balance?)

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I had a friend back in college who had to go to the bank (two states away from where he was living at the time) and deposit money into the account to clear the negative balance so he could close the account. In other words, he had to pay the bank to make them stop charging him more money. Can you say, "CHA-CHING!!!!"? I knew you could... – Bob Jarvis Jun 4 '14 at 11:58
My wife closed her account they said ok in Feb 2016 now we owe almost five hundred dollars in fees and overdraft fees cause there was no money now we our trying to back trace our steps to fined out who she talked to – user40968 Apr 12 at 1:21
up vote 11 down vote accepted

Unless your agreement says otherwise, the bank is authorized to debit your account for the amount — and then charge you an additional fee for being overdrawn. If you do not add money to the account to bring it into a positive balance, they can pursue you for it just as they could any other debt. They may also choose to close your account instead.

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Or they can just shut down the account. – keshlam Jun 4 '14 at 4:02
@keshlam A good point. I'll add that option to my answer. – Jadasc Jun 4 '14 at 4:03

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