I received a convenience check(a balance transfer check issued by Chase against the line of credit of my credit card) with 0%APR which I could write to myself and deposit into my checking account. I deposited the check into a Wells Fargo ATM as i had a checking account with Wells Fargo. Two days later, the Wells Fargo ATM operations office calls me and tells me that they cannot process such balance transfer checks and they have to be presented at a local branch. They informed me that they will be sending me the legal copy of the check back which I can deposit at a Wells Fargo branch. After two days, I find out that a bill payment i scheduled using my Wells Fargo checking account was not sent due to insufficient funds. On inquiring, I find out that since the ATM operations group sent my check back to me, it was marked as "Refer to Maker" in bank records and the Loss Prevention Group of Wells Fargo decided to close my checking/savings account, freeze my funds without notifying me. I explain the matter to 7 people on phone(out of which 3 were from the Corporate Executive Office). The people in the phone told me that though they know that it is not my mistake nothing can be done, bank decision to close my account is final and the inconvenience caused to me due to bill payments not getting processed, not having access to my funds is not their concern.
I wrote to John Stumpf(head of the Wells Fargo) about the whole situation but did not hear back and don't expect will) .
1. Do banking regulations allow any bank to terminate a consumer's checking/savings account, freeze their funds without notifying the customer like they did to me? I thought adequate notice was required by law
2. If a bank closes my account like in the above situation, will that affect my Chexsystems record and impact my ability to open a bank account in future with any bank?
3. Can my credit history get affected, though I know it should not?
Anything else I should do or be aware of?