She has had 2 previous bank accounts she overdrew one for two hundred the other for about nine hundred, I told her she should still try and open another so she can get direct deposite. I really don't want to open it in my name she may do the same thing and it be on my credit. So, I guess my question is do you reallly think it's likely she'll be able to get a checking account on her own?
2006-07-19 10:37:06 · 19 answers · asked by Anonymous in Business & Finance ➔ Credit
If I were you I would not have my name on any account that involves her.
If it is in your name and she overdraws, you will be held liable. Not only would it screw up your records but If the overdrafts are not taken care of, that could end up in extremely stiff fines and a good possiblilty of prison time.
She might check out the site I've listed and find a bank that does not use the ChexSystem.
2006-07-19 12:30:36 · answer #1 · answered by echo 7 · 0⤊ 0⤋
If she has open claims/judgments with these past banks or credit unions, there is a great chance she will not be able to open a checking account. I have one better....
She can however, open a savings account and still use it for direct deposit. Depending on the bank, they will also issue her a bank card or debit card. This card will not allow her to withdraw more than what is in her account. As for the amount that she may need to open this savings account also depends on the facility. It could be $5.00 it could be $100. She will have to call around. I don't know how old your sister is and what bills she has, the downfall to the savings account ....no checks. She can use the bank card issued or will have to get money orders or cashier checks from the bank to pay her bills. She has to pay these other banks off though "if" she is not able to open a checking account or she may NEVER get another checking account.
Sister or not.....Take my advise.
I am the oldest of 5 and NO WAY would I put MY name on an account for my sister's use! Don't do it.....you will in deed ruin your credit if she does it again.
2006-07-19 10:51:57 · answer #2 · answered by ? 2 · 0⤊ 0⤋
I am confused. Your question says you open up an account in her name. But, your sentence says in your name. Banks do not like a direct deposit to come from a person different than who is on the account. Why? If the person getting paid wants to dispute it or get their money back, it is very difficult because now it is in an account that doesn't belong to them. Banks have some way of finding out that you have overdrawn at other banks so she will probably have trouble opening an account. She might call some credit unions and ask about it.
2006-07-19 10:41:55 · answer #3 · answered by jboatright57 5 · 0⤊ 0⤋
Some banks will allow you to open an account after being charged off, most don't though. Do not open an account for her. If she overdraws that one, you will be put on chexsystems for 5 years, and it doesn't go away, even if you pay it off. She is just going to have to shop around and find one that will open an account for her. If not she might have to live with just getting a check each week to cash.
2006-07-19 10:42:57 · answer #4 · answered by Cherish S 1 · 0⤊ 0⤋
NOOOO! Don't do it! She should keep looking for a bank that will open an account for her. Employers now offer debit cards w/ visa or MC logo w/ direct deposit. You don't want to ruin your credit. She will do the same to you. Tell her you are sorry, but you can't help her.
2006-07-19 11:15:36 · answer #5 · answered by ladybug 3 · 0⤊ 0⤋
If she has a job, I'm sure she'll be able to open an account. Banks are always looking for ways to have money.
2006-07-19 10:42:03 · answer #6 · answered by Sandra M 3 · 0⤊ 0⤋
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2016-11-02 09:00:37 · answer #7 · answered by ? 4 · 0⤊ 0⤋
I don't know if she'll be able to open one, i guess opening a free checking account shouldn't be a problem. Still, if she can't, i'd advise you to not open one for her. If she's been irresponsible with her money before, what makes you think she wouldn't do it now when she wouldn't be the one held accountable?
Tough luck if she can't, she needs to learn to be responsible. Good luck.
2006-07-19 10:43:30 · answer #8 · answered by No se 5 · 0⤊ 0⤋
Depends on where you live. In Atlanta, banks tend to require a credit check before you can open an account, but not in other places. DON'T DO IT - it'll wreck your credit & your relationship with your sister.
2006-07-19 10:40:58 · answer #9 · answered by gouldgirl2002 4 · 0⤊ 0⤋
First, you can not open an account for someone else.
Second, you could open a joint account, but I would not if I were you. You would be responsible for her actions. I don't think you want that.
2006-07-19 10:42:27 · answer #10 · answered by Anonymous · 0⤊ 0⤋