Has anyone ever had a bank force close your account? and if so how do you get a bank account again? Because no other bank will open an account for you.. Is this an impossible fix?
2007-02-14 07:12:25 · 7 answers · asked by Esther J 3 in Business & Finance ➔ Credit
I know that banks do close accounts if there a long time of inactivity. So they do an investigation to find where the owner lives and then send the check.
As for no other banks will open an account for you, that's not true. Any bank will be happy to open an account as long as you make an initial deposit.
2007-02-14 07:17:53 · answer #1 · answered by Anonymous · 3⤊ 1⤋
I work at a credit union & worked at banks & have seen many accounts closed out this way. This occurs when you abuse an account by either writing many bad checks, deposit them, or leave your account overdrawn for a period of time, or a combination. What happens is that you are put on checksystems or telecheck. These are reporting agencies that service banks & credit unions. They are roughly the equivalent to a credit reporting agency.
It is at the sole discretion of the institution if they open any account at all. The record stays on you for 7 years. Some places will let you open a checking account with some restrictions. Others may let you only get a savings account. Many will not want to touch you at all, for any accounts. Even if you pay it off, they still have the option to refuse your account as long as you are still listed, & it will stay for 7 years even after you pay it.
2007-02-14 07:25:06 · answer #2 · answered by ricks 5 · 0⤊ 1⤋
US Bank offers an account to people who have had bad banking relationships with other banks. There are a few restrictions though; you aren't given a debit card or checks for three months effectively making you only take out what you already have in. After three months though it's a non restricted account just like any other. A great way to get you back on track.
2007-02-14 09:43:34 · answer #3 · answered by gptrejo3 2 · 0⤊ 1⤋
you must of had a bad account to have the bank close your account. No no other bank will open an account for you until you correct the issues with the original bank. do you have fees or penalties that you accrued and did not pay and let account go into default.
2007-02-14 07:21:01 · answer #4 · answered by Dennis G 5 · 0⤊ 1⤋
If a bank closes an account due to an overdraw or something, your name & S.S.# are flagged. So you can't open another bank account until the old one is cleared up.
2007-02-17 20:58:56 · answer #5 · answered by Lost_Lady 3 · 0⤊ 0⤋
There is a system banks use called chex system. It is like a credit reporting agency for bank accounts. If you have a negative mark with this company chances are you will be turned down for a new account.
2007-02-14 07:24:51 · answer #6 · answered by vicci 2 · 0⤊ 1⤋
That's a good point
2016-07-28 08:36:24 · answer #7 · answered by Lyla 3 · 0⤊ 0⤋