Can they take my money out of it?
2007-02-09 00:59:09 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
If you owe money as in overdraft, you can open an account at another bank, but do it before you hit ChexSystems.
If you owe money on credit accounts, you can change banks anytime you want, but you take the risk of having your account frozen.
2007-02-09 02:27:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋
When opening an account they will not usually check to see if you owe money at another bank. As long as you have money they will open the account. However if the first bank is able to win a judgement against you for the money owed they could potentially force the new bank to freeze your funds. But they can't just take it.
2007-02-09 09:05:39 · answer #2 · answered by b j 3 · 0⤊ 0⤋
I would guess that as long as you are not in arrears at the first bank, there would be no issue with opening an account at another.
If you have defaulted on a loan, then the interbank check system will probably flag your name.
It's still up to the individual bank and its rules as to whether you get the account or not.
2007-02-09 09:03:04 · answer #3 · answered by credo quia est absurdum 7 · 0⤊ 0⤋
Yes but the new bank may run a credit check on you if the other bank has not fore closed on the money you owe then this will not show up. Go ahead and open one HSBC are very good.
2007-02-09 09:01:37 · answer #4 · answered by Harpo 2 · 0⤊ 0⤋
that depends on if that bank you go to runs a background check on you. They have there own network they keep in touch with each other to warn other banks of Bad Apples. You can try..some banks don't check..others do. It's not a Credit check. It's more of a Teletrack. Like what Rent 2 own places use. It's not a CREDIT report. It just gives them a heads up like a credit report without being a Credit report.
2007-02-09 09:03:26 · answer #5 · answered by Anonymous · 0⤊ 0⤋
For anyone to take your money, they must go through the legal system. Usually that's Small Claims Court, or the DA office.
Once they have a judgement against you, they can:
* garnish your wages meaning the employer will pay them a percentage before paying you.
* sell your car or house if you own one
* levy your bank account
and the list goes on.
PLUS, they earn 10% interest a year (calculated daily)
PLUS, you have to pay back all the expenses (a Levy is $35)
Best to pay it off somehow, even borrow the money, as it will cost you less.
And yes, it can form part of your record for employment and sceurity checks..
truth
2007-02-09 09:14:27 · answer #6 · answered by Jim 7 · 0⤊ 0⤋
If you owe them money, and they want it badly enough - they can garnish your wages before it ever gets to your bank.
Plus the new bank will know about your old bank - so you won't be able to get any loans or anything.
2007-02-09 09:02:18 · answer #7 · answered by joemammysbigguns 4 · 0⤊ 0⤋