can you overdraft one bank account, and get a new bank account with another bank without paying the other bank

Question

off that you had the caused the overdraft with. How do you go about opening a new account with a whole new bank without paying off the other bank? Isn't that illegal or something?

Answer 1

It depends. If the other bank has already closed your account, then they have also notified ChexSystems or the like. When you open a new account at almost any bank nowadays they run your social security number through one of those systems, and if you have unpaid overdrafts at another bank they will not allow you to open a checking account until those debts are resolved.

Answer 2

You'll have to check with the bank for sure but I'm pretty sure you will have to pay the money off first. Or maybe they would let you open an savings account. I'm only saying that because once I had an past bank record incorrect information on me and when I went to open an new account at a new bank the woman was rude and refused me service. I contacted the old bank and they sent me a letter saying my account was good, which I took to another bank and had no problems. Good luck.

Answer 3

You most likely won't be able to do it, You would have something called Chex Systems and most banks screen for that when opening new accounts, If you owe a bank more than likely if its negative for more than 30 business days it will charge off, and you will still owe the remaining balance including overdraft fee's and negative balance fee's if they apply, So paying it off will be your best bet most of the time your able to make payments.
You might still have a hard time opening up another checking account else where, Hope this helped!

Answer 4

It's illegal, and the bank you are trying to screw over will flag you. The overdue balance will come up as a red flag when you try to open an account at any bank in the US. You are asking for A LOT of trouble by not paying the bank the money you owe them. Your credit will suffer for each day that you don't pay off the balance btw, and you won't get a lone until that is taken care of.

Answer 5

The overdraft wouldn't effect your credit immediately, so you probably could open a new account although you may not have money to put in it. And eventually the first bank would file a collection against you, damaging your credit until you pay the overdraft amount.

Answer 6

It would not be illegal to open a new account, but it would be illegal to not repay your previous bank. It's like you just robbed a bank when you overdraft your account and try to run away from it. Haven't you ever heard of those individuals that get arrested for writing bad checks?

Answer 7

It's not illegal, but because of the advances in technology, and the seriousness of the matter, credit bureaus are notified almost immediately about negative credit circumstances. In my opinion - and from my own experience - there is no way you will be able to open another bank account at any bank until you clear up the one that is overdrawn.

Answer 8

There is a system that tells other banks when you have overdrafted from a bank so usually no. It depends on if the bank you overdrafted from puts it into a system.

Answer 9

You can open a new bank account, but you still owe the other bank. If they can't collect on their own, they'll send it to a collection agency. And it will go on your credit.

If you have a good sob story, your current bank may forgive one or two overdraft fees.

Answer 10

No you have to clear up with the first bank before you can open another one up, it will show on your record when you go to open the 2nd bank account.