Business checking closed without notice
Hey all, I'm looking for some feedback/advice about this.
My business partners and I opened a US Bank Checking account and line of credit about a month and a half ago, in fact we were only two weeks from our 60 day signing bonus for the new account. Today we got a letter from the state saying that our payment method we have on file for our sales tax license (our business checking) was returned and we now owe a penalty fee. This confused me so I logged into the app and our checking account was nowhere to be found. After a lengthy call to customer support we were informed that our account had been closed, all the representative was able to tell us was "The account was closed due to an internal review." A check with our entire balance and a closure letter are supposedly en route, but we received zero communication about this. We have received mail, text messages, email, and phone calls from US Bank about other matters, but we were blindsided by this. At this moment I believe all we can do is wait for the letter to see if they provide a reason for closure. This experience is a huge turn-off from US Bank, but due to circumstances about the location of my business partners, US Bank is by far the most convenient option for us for business checking.
Here are my questions
-Has anybody else experienced this?
-If we manage to get our account reinstated, would we still be able to qualify for our signing bonus?
-Would US Bank cover the penalties for a returned payment charge?
-How to we ensure this doesn't happen again?
A little more context, our credit line is unaffected as far as we can tell. We have not extensively used the checking or debit account. We had an initial investment of around $30k that was deposited the day we opened the account with a couple smaller deposits of $2k added afterwards. The only expenses we have used the account for include some ATM fees for petty cash, a cashiers check for rent, and some minor expenses (under $1k) on materials for renovation. The only reason I can think of that the account would be flagged is that only two of the three members of the LLC are listed on the account because the third has been traveling internationally for the last month or so.