Checking account?

Question

If I have a checking account with Wachovia, and it gets closed and reported, will Wamu also close my account I have with them?

Answer 1

Not sure what you are asking. Is your account being closed due to overdrafts? Then, no Wamu probably won't close your account with them as long as you don't start bouncing checks.

If you're talking about your account being attached by a creditor, then yeah, they might get the Wamu accounts too.

Answer 2

WAMU will not close your account if Wachovia does so provided for the fact you are not negitive for 60 days in a row without getting the balance into positive territory for at least 1 business day....thats when WAMU will close your account (in my experience it seems rare to have one institution close an account and a another one doesn't cause it seems if you are having trouble at one place, you are having trouble at both places)

the thing is though if reported, if you plan to ever open another account again as a brand new customer at any financial institution you have be run through chexsystems (or telechecks whatever is used) and for the next 5-7 years you won't be allowed to open another account again until wachovia takes you off (you achieve this by paying them back over time)

but if you are considered established the new accounts rep at WAMU shouldn't have to put you through that check again but that can change over time

i would go about paying back wachovia for the money you owe cause they will go after you in time and turn you over to a collections agency....i would talk to a branch manager and arrange some sort of payment plan to take care of things also they might be able to swing a deal with you where their back office won't close your account and they will take responisilbity for it remaining open and not report you at all...provided you make timely payments or do what ever they say, its rare that i know of but it can happen

make sure you are balancing your statements against your checking register, i would never reverse any charges for people if they didn't keep a register going and even sit down with someone at your branch to go over what the underlying issue may be and wha tyou cna do to prevent it. there are some that absolutely hate this and others who didn't mind because thats what they are there for

what i always recomended is the starbuck example: going to starbucks for a $3 latte and put it agianst your debit card, because this causes an overdraft charge you just paid 30 for that same latte which could have easily been paid in cash, so withdraw like 200 from an atm only take 1 od charge and spend the cash then repeat when low on cash, over the course of 3-6 months you will notice an amazing difference in your balances and statements

sorry to lecture you a bit here but i've dealt with a lot of people under similar circumstances in my years working for the company and no one in any branch likes to see people with a lot of od issues, it just seems that some seem to take any advise from us in one ear and out the other vs actually make the change so it can become a little frusterating when it comes to this subject within the financial center

Answer 3

Most banks only check with the checking reporting agencies when you open a checking account. On credit card accounts, the banks usually check with the credit agencies regularly to see if you have become a bad risk and to raise your interest rate.

Answer 4

are you closing it or is wachovia asking you to take you business elsewhere == it really does not matter because either way it should not effect your other account!!!