Remember when banks chased after customers, offering perks just to convince people to open accounts? They ran flashy ads and handed out sign-up bonuses, making it seem like they wanted everyone’s business. But now, some banks appear to be more selective about who they keep as clients. A Houston woman, originally from Baltimore, said in a TikTok video that she was shocked when her business card kept declining despite having money in her account. “I tried to use my card to purchase something and it kept declining. I know my business account has never been on zero,” she explained. After calling the bank, she discovered M&T had already shut down her account.
The woman said she was told the bank had mailed her a letter on July 17 notifying her of the decision, though she only found out after the fact. “They told me they didn’t have to give me any explanation and that the bank periodically goes through their accounts and determines who they want to continue banking with,” she recalled. As a licensed therapist, she stressed there had been no suspicious activity. “I’m not going to do anything to jeopardize my license, my practice, or my bank account.”
Rushing to protect her finances, she quickly moved incoming payments from Medicaid and insurance to her personal account. With the official closure date set for August 18, she applied for a new business account at another bank, which approved her instantly. Even so, she admitted feeling uneasy, asking, “Do I need to keep my money under a mattress? Will I get a letter from them next?”
She also mentioned that she found many similar cases after looking through TikTok and searching online. “The commonality that I noticed was that it was women’s accounts that were being closed all within the last year,” she said. From her perspective, the pattern felt deliberate, aimed at undermining women’s independence. “Because there was a time when we couldn’t [have accounts], when we had to ask for a man’s permission to have a bank account. They are trying to get us back to that place,” she added. She urged other women and minority business owners to research their banks carefully and ask tough questions. While she has shifted her accounts, she admitted the ordeal left her distrustful. “M&T is definitely on the list,” she remarked.
Netizens React to the Houston Woman’s Story
Many TikTok users who listened to her story shared their own experiences with banks. One commented, “This happened to me with Chase. Then they didn’t want to give me my money that was in my account. I had to threaten to sue them for stealing my money.” A few people advised her to switch to credit unions, with one writing, “I’m with a credit union and will Never go back! I got tired of being taken advantage of by banks and All their fees! [sic]”
Some were mainly shocked at her story. “What?????!!!!!!! This is getting ridiculous!” one person exclaimed. Another admitted, “This is so wild and scary. I thought smaller banks were more reliable.” Others suggested banks may be motivated by profit rather than rules. “I’m sure your account was in perfect order. You just weren’t making them any money,” one netizen said. Another added, “Yeah move the money to a better bank.”
