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Is it illegal to open bank accounts after one was closed?

Few days ago my checking account was closed by the bank cause it was overdrawn $300 for a few months. I called them and they said I have 30 days to pay in full before it goes to collections and reported to Chex System.

So I have been opening checking accounts with other banks before they report it to Chex System. So am I doing anything illegal? Or will they get closed once they report it to Chex System anyways?

I have every intent on paying the overdraft but just in case……..

I don’t think that it is illegal, and once you open another account they should recheck chex systems. I had an account that I had to pay off on check systems, before I paid it I was able to open a savings account at a different bank, not all of them check chex systems, and since then I have paid off the other bank account and now have a checking account. Don’t wait too long because you don’t want it to so on your credit. maybe they will let you make payments. Good Luck :)

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This entry was posted on Monday, July 27th, 2009 at 1:30 pm and is filed under bank accounts. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Is it illegal to open bank accounts after one was closed?”

  1. ∑∫¿ž∆ß∑†μ on July 27th, 2009 at 6:48 pm

    in my area i dont think they would call the check system but like me i have to wait 5 years to open an account at a good bank. but some banks dont have the check system so i dont think its illegal they didnt do the check first.
    References :

  2. I don’t think that it is illegal, and once you open another account they should recheck chex systems. I had an account that I had to pay off on check systems, before I paid it I was able to open a savings account at a different bank, not all of them check chex systems, and since then I have paid off the other bank account and now have a checking account. Don’t wait too long because you don’t want it to so on your credit. maybe they will let you make payments. Good Luck :)
    References :

  3. No, you’re not doing anything illegal.

    The Chex System identities you to other banks. You are in their system for FIVE years. If you make a deposit, it wouldn’t surprise me that the bank can take money from your new account to satisfy the outstanding debt at your former bank.

    If you are in their system, you won’t be able to open a checking account with any amount of money. You’ll have to go to a non-member bank (they are few).
    References :
    http://www.creditinfocenter.com/FeaturedArticles/ChexSystems.shtml

  4. Pay your debt. If you don’t your credit will be destroyed.

    It isn’t illegal, but your new accounts will be closed once the banks discover you are on chex systems.
    References :

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