Can you get a savings account with a different bank if you have a negitive balance in a different checking?

Answer 1

Sure. The banks don't trade information about your balances unless you are transferring money between them.

Answer 2

Possibly. There's a system called ChexSystem that most banks use to check if someone is opening a new account. This is most commonly done for new checking accounts, but is sometimes done for new savings accounts (for example, Bank of America does this on ALL accounts).

Credit Unions are less likely to do this on savings accounts, because you are effectively buying a 'share' of the business, and part of your initial deposit (often as low as ten bucks) is your guarantee. If you wanted to open a new savings account, I'd try a credit union first.

Rule of thumb is the bigger the bank, the more likely it is to use ChexSystems.

Oh, and do something about the negative balance. If the bank closes the account, it stays on ChexSystems for five years, and can hinder your ability of getting another checking account for those five years.

Answer 3

Most financial institutions use chexsystems for all new accounts including Credit Unions unless you already have a savings with that financial institution open. Now what happens is a financial institution doesn't report a record to chexsystems until your account with them has been written off. This means that the balance owed has been sent to collections and your account has been closed. If you are currently negative in a checking elsewhere, but your account has not been written off then you can still open a savings somewhere else since more than likely this account has not been reported to chexsystems.

Answer 4

Probably not as most banks use a system called CheckSystems and if you are in it for have a bad account then you will show up when you try to create a new account. You best bet is to payoff the negative checking account and make sure that bank take you off the CheckSystems if they added you.

Answer 5

there is not something incorrect with having multi money owed on the comparable or a various economic company. you're maximum in all probability dropping determining to purchase potential ( the skill to purchase issues) yet thats your decision. the government will take of the people who try this for his or her finished existence time with social sercuity, yet they are going to easily pay out the bare min. for survirial. i might say one checking acct., one money marketplace acct., 401K or IRA (roth or classic) may be all i want