Stalagmite
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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. |
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Tasha
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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. |
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â–ºsolo
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As long as the initial bank hasn't reported you to Check Systems, you can open a new account. Once you're reported to Check Systems you have to resolve the issue before they'll remove you.
Trust me, I know... |
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original321
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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. |
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joel95ex
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the OD account will get sent to a collection agency just like a past due credit card..... |
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Mistress
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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. |
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krennao
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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. |
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karen w
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DO IT QUICKLY BEFORE YOU ARE REPORTED |
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lepr0kan
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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. |
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smartypants
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Don't screw your credit up letting the other thing go. |
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Green Eyes
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You can do it but the banks will go to collections fast if they see no money going into the account.
I would at least open another account and slowly pay the other one off and close it so you dont ruin your credit. |
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superSymmetric
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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. |
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Homeslice
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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? |
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Nora
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you can do that as long as you make payments until the overdraft is paid off. |
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Betty
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You need your social security # to open a bank account. What you owe from the other account is linked though your social. so no, you cannot open an new account without paying off what you owe. |
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â–’Bellaâ–’
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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! |
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Diane A
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Yes. You just don't tell the other bank that you have other accounts. I don't know about the legality of it. |
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Calm
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Not illegal....but unethical. Eventually the other bank's overdraft will catch up....and more than likely they will have the power to seize the new bank account to fulfill their overdraft. |
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stilltrying
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how can i keep a bank from seizing my account for another banks old overdraft? They want a set amount that will be paid, I have a very limited budget social security & disability there is not enough for food. what do i do? |
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