HOA back account (condo, closing, move)

[Highlander617]

Hello,

Unfortunately the management company for my condo HOA has totally stopped responding to all calls and emails. Myself and the other trustees are in the process of switching to a new management company, but we are having a hard time closing the bank account controlled by the bad management company. I called the bank and they said the easiest way to close the account and get the money back would be to have the existing company complete an Account Closure Request form, but I don't think that's possible given the total lack of communication. The bank gave me an email for our customer relationship manager there, but I have not heard back from him yet. Does anyone have any suggests on how to get the money out of the HOA account?

Thanks!

[wolfgang239]

Originally Posted by Highlander617

Hello,

Unfortunately the management company for my condo HOA has totally stopped responding to all calls and emails. Myself and the other trustees are in the process of switching to a new management company, but we are having a hard time closing the bank account controlled by the bad management company. I called the bank and they said the easiest way to close the account and get the money back would be to have the existing company complete an Account Closure Request form, but I don't think that's possible given the total lack of communication. The bank gave me an email for our customer relationship manager there, but I have not heard back from him yet. Does anyone have any suggests on how to get the money out of the HOA account?

Thanks!

Can't your trustees just vote to withdraw all but the minimum balance and move the funds somewhere else? We just moved our accounts to CIT and did that and just closed the old accounts afterwards.