Can I open a checking acct with BoA, after having discharged with them?

[phoenyx]

Whether BoA would let me open a checking account isn't what I'm focused on in this post. I can quickly determine that by just trying. I'm looking for guidance whether doing so would be going down a bad road.

My personal Chapter 7 bankruptcy was discharged on July 15, 2008. I have had some problems with my current bank, and my local Bank of America branch is offering people $100 to open a new account. The new account bonus money would help, I used to bank there and loved the people, and my father still banks there and loves the people.

I'm thinking opening an account there in my situation would be a bad idea, but I'm wondering if I'm wrong and really protected.

In my bankruptcy, I discharged:
* $5,000 credit card debt with Bank of America
* $950 overdraft bank account with LaSalle (BoA later bought/merged with LaSalle)
* $80,000 personal guarantee on a corporate credit line with LaSalle (BoA later bought/merged with LaSalle)

If they even allow me to open an account rather than telling me to jump in a lake, do I run a risk of them seizing any money down the line? I know at face value the discharge should prevent anything like this, but I remember reading on this forum people having problems occasionally opening accounts with prior creditors and having the creditor try to carry the discharged balance... Although that may have been more credit card related posts.

[Scooter10]

There are plenty of banks in town. I would open accounts with someone you did not discarge with. All bank included in their initial accountnt disclosures that they may close an accout if they choose. I would hate for you to get everythnting set up on your new account. Then you end up getting a letter from BofA that they are closing you down in 10 days. Also BofA will never lend to you again as they took a lose on you.
Give your account relationship with a bank that will eventually lend to you one day. Credit Unions are big on realtionship and that is where i would move yout new account to.

[willbfree]

phoenyx did you try the BofA account yet? I am interested in knowing the results if you did. I too miss my BofA account. We have had this same credit union account since we moved to town ten years ago and I absolutely hate these CU people. I miss the local BofA tellers and my branch manager. I miss my 'keep the change" savings account etc. Please post if and when you do sign up and your results.

[phoenyx]

No, unfortunately or fortunately (not sure which), I decided not to open the account. I was just too worried it would open a can of worms, and I'm so thrilled to be beyond all those problems now.

I've always given the keep the change promotion a weird look though. It seems like a decent way to throw some savings away over time, but I can't help but think the person who came up with the idea had the motivation that it would increase overdraft fee revenue for the bank from people who lost track of the rounding up compounding over a few purchases. I really hate overdraft fees..........

[oldhack]

Though I don't know that I would have attempted opening the account, either, as a matter propriety, had they let you they almost certainly would NOT have confiscated funds. A discharge is a discharge, and a bankruptcy court is a FEDERAL court!
That would be a violation of FEDERAL LAW, and not worth the hassle to any financial institution which exists on a federal charter. They would have inconvenienced themselves more than you, unless you just never complained.

[jennordhavn]

No, unfortunately or fortunately (not sure which), I decided not to open the account. I was just too worried it would open a can of worms, and I'm so thrilled to be beyond all those problems now.

I've always given the keep the change promotion a weird look though. It seems like a decent way to throw some savings away over time, but I can't help but think the person who came up with the idea had the motivation that it would increase overdraft fee revenue for the bank from people who lost track of the rounding up compounding over a few purchases. I really hate overdraft fees..........

My DH has BofA checking and keep the change. When there isn't enough money in the account, they don't do the transfer, so there are no overdraft fees directly from transferring the money. But over time if you didn't keep track closely of your balance, it probably could cause something to be returned.

[phoenyx]

My DH has BofA checking and keep the change. When there isn't enough money in the account, they don't do the transfer, so there are no overdraft fees directly from transferring the money. But over time if you didn't keep track closely of your balance, it probably could cause something to be returned.

Yeah, I figured they wouldn't overdraft an account to move the change over, but I always figured they came up with the deal so people who don't check their account online every day would lose track of the change over a month's worth of purchases, and wind up overdrafting on a purchase later. Seems like every bank is trying to maximize chance of overdraft debit card purchases at $35-$39 a whack. Chase (without direct deposit) required 5 debit card purchases a month, for example.

[phoenyx]

You can probably tell my hatred for overdraft fees. I have been with Charter One, but am leaving now. We made a purchase using our debit card with a very reputable website. They say they tried authorizing our debit card once, and got no response. So, they tried again in a few minutes, and it went through. Charter One said both times an authorization was approved.

Note that the web site DIDN'T charge my card twice, only authorized it twice (according to Charter One anyway.) I have personally ran 30,000+ credit card transactions being an online reseller, and I know sometimes you just don't get a response back and you don't know what happened with it.

So, Charter One's new'ish policy on overdrafts is that they consider authorizations to reduce the amount available paid on checks or debit card purchases that post -- EVEN if those authorizations never turn into charges.

So, I have a statement from last month that shows me never going in the negative. But, I have an overdraft statement showing that my available funds went negative $40 (the website charge was $70, so without the double hold, there was no overdraft.) $4 McDonalds purchases suddenly became $45 cheeseburgers.

$300 in overdraft fees due to this. Branch manager says it's out of his hands, and only corporate can respond to it. They won't budge. I already have a small claims lawsuit filed, date's in a few weeks. We'll see how it goes.

Branch manager even talked with the merchant who verified it was one order, and they didn't get the first authorization approved. They say that corporate just doesn't let them adjust fees anymore because that's about the only way they're making money now. (Charter One didn't get part of the bailout either since they're foreign owned.)

[/rant off]

[Crazzyjen]

Whether BoA would let me open a checking account isn't what I'm focused on in this post. I can quickly determine that by just trying. I'm looking for guidance whether doing so would be going down a bad road.

My personal Chapter 7 bankruptcy was discharged on July 15, 2008. I have had some problems with my current bank, and my local Bank of America branch is offering people $100 to open a new account. The new account bonus money would help, I used to bank there and loved the people, and my father still banks there and loves the people.

I'm thinking opening an account there in my situation would be a bad idea, but I'm wondering if I'm wrong and really protected.

In my bankruptcy, I discharged:
* $5,000 credit card debt with Bank of America
* $950 overdraft bank account with LaSalle (BoA later bought/merged with LaSalle)
* $80,000 personal guarantee on a corporate credit line with LaSalle (BoA later bought/merged with LaSalle)

If they even allow me to open an account rather than telling me to jump in a lake, do I run a risk of them seizing any money down the line? I know at face value the discharge should prevent anything like this, but I remember reading on this forum people having problems occasionally opening accounts with prior creditors and having the creditor try to carry the discharged balance... Although that may have been more credit card related posts.

Yes you can open a checking account at BoA. Your credit card is separate from your checking account. Your credit card has been settled by Ch 7 and that is that. They will not try and take your money. I had 3 BoA credit cards discharged and have a checking and savings account with them. I pay no fees and my direct deposit goes through my credit union.

[AMISLANDER]

you may be able to open an account; they will, however, not issue a cc to someone who's bk'd.