Bank that I work at “ended their relationship with me”

Incoming analyst and the bank that I work at has a large retail presence. Don't want to get into it but they have canceled my credit cards and closed all of my checking accounts. Wondering if HR can do anything about this because I assume I will have to bring most of my accounts to the bank for compliance. Also how should I go about telling HR this?

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Comments (8)

May 4, 2021 - 2:07pm

Don't have the conversation, it's not an issue. I assume you have a different checking account now, so continue using it. They will walk you through the policies on your first week, and for the far-reaching reason they demand loyalty through all your financial needs, then I guess you can initiate the conversation in that case. 

You don't have to bring most of your accounts to the bank, the only thing they will require for compliance is your trading account, and they give you various options for this usually. 

May 4, 2021 - 2:17pm

It's unrelated to your job, just open a bank account elsewhere.

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May 4, 2021 - 2:44pm

Why is the bank ending its relationship with you? Is it because they weren't being utilized or something else? You will likely need at least a chequing account (where they will deposit your pay) as well as moving your trading accounts over.

  • Intern in IB - Ind
May 4, 2021 - 3:06pm

I've heard of Chase doing this to people who participate in credit card churning (opening and closing many accounts to gain points) and manufactured spending (buying items that can be easily converted to cash to gain "free" points).

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