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    Applying For A New Bank Account

    After my BK is discharged, I plan to find a new bank. I have been with the same bank over 20 years and I need a bank that has fewer fees and is closer to where I live now.

    Will it be very difficult to get a new bank account with a BK on my record?
    Filed BK 7 Pro Se: August 2010 341 Meeting: September 2010
    November 2010
    Closed: January 2011!!!

    #2
    As long as your Chexsystems report is clear, you shouldn't have much trouble with a checking/savings account. Chex handles "account abuse" type of reporting -- unpaid overdrawn accounts, etc. If you have a Chex entry, you probably know.

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      #3
      We have found Credit Unions to be post ch7 friendly.
      Making financial failure my teacher, not my undertaker!
      Ch7 Filed 9/23/09
      341 11/05/09
      01/07/2010 Discharge!!

      Comment


        #4
        Google rewards checking and see if there is a local bank that offers this account. Bankvue is another one.

        Hihg interest checking accounts---I've joined 5 different banks chasing high interest rates over the past 3 years with a BK on my records.

        Comment


          #5
          Originally posted by jadams View Post
          As long as your Chexsystems report is clear, you shouldn't have much trouble with a checking/savings account. Chex handles "account abuse" type of reporting -- unpaid overdrawn accounts, etc. If you have a Chex entry, you probably know.
          Originally posted by BankruptinNJ View Post
          After my BK is discharged, I plan to find a new bank. I have been with the same bank over 20 years and I need a bank that has fewer fees and is closer to where I live now.

          Will it be very difficult to get a new bank account with a BK on my record?
          The attorney that we consulted advised us to close our current checking account and open a new account with another institution that we do not have a debt with. The current bank would freeze or close our account after they find out that we filed BK. I really don't want to close my account but atty has an excellent point. My question is would it be easier to attempt opening an account at a credit union versus a regular bank? Do they check credit report? I may have a negative mark on my Chexsystems because I had a joint account with another person a couple of years ago.

          Or should I just wait until post BK to open a bank account?

          Thanks!
          Jennifer

          Comment


            #6
            Jennifer, listen to your attorney. We hated switching banks too, but did anyways. And guess what, it ain't that bad. Our attorney just told us to avoid Wells Fargo due to their documented history of freezing accounts. We opened with US Bank, no problems. Point is, you don't have to stick with a small institution if, for convenience's sake, or whatever, you prefer a larger institution.
            Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
            AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC

            Comment


              #7
              Thanks ccsjoe, I'm also in No CA. Did you open the accounts after filing bk or before? Does it matter?

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                #8
                you can go to any local credit union or any bank...just open a checking account to pay your bills until you get discharged, once you are discharged then you can decide to stay with your bank or move to the new one. I had checking account with Chase, I went to Union Bank and opened accounts during the BK process, once I was discharged, I went back with Chase. Turns out Union Bank is terrible..they dont give you immediate credit for deposits like Chase can, and they were putting holds on my checks..so I switched back.

                Comment


                  #9
                  You can go to the Chexsystem website and request a copy of your report with them. This would at least let you know if there is any point in attempting to open an account with a traditional bank. You are entitled to a free report.
                  Filed pro se, made it through the 341, discharged, Closed!!!

                  Comment


                    #10
                    Originally posted by jnfrross View Post
                    Thanks ccsjoe, I'm also in No CA. Did you open the accounts after filing bk or before? Does it matter?
                    I opened them before, wanted to give our direct deposits time to be redirected. They were quite bk friendly, openend account, gave me automatic LOC which they closed 10 days post-filing, but the accounts are great, untouched, I get instant credit for any deposit, no holds, etc. I think I'll stay with them post-discharge actually.
                    Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
                    AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC

                    Comment


                      #11
                      So, if you are not in the chexsystem and want to open a new account post discharge, will the new bank know you have a bankruptcy?
                      What if you open the account before you file? Will the bankruptcy later be added on your records with your new bank?
                      (PS... I'm hating on Bank of America right now..lol)

                      Comment


                        #12
                        Originally posted by RuthCB View Post
                        So, if you are not in the chexsystem and want to open a new account post discharge, will the new bank know you have a bankruptcy?
                        What if you open the account before you file? Will the bankruptcy later be added on your records with your new bank?
                        (PS... I'm hating on Bank of America right now..lol)
                        Some banks do credit checks to open a checking account and some only use chexsystems. Ymmv. Many that do credit checks will not keep you from opening an account with a bk, but they may not grant you a debit card and will most likely not grant you overdraft protection on your checking account. There are plenty of banks however that will grant you a debit card even with a bk on your report.

                        Banks that do credit checks in the first place, will most likely subscribe to account review services and get updates on your account, so the bankruptcy will show up. If you do not have credit with these banks, it should not be an issue to your account.

                        It is probably easier to open the account before you file, but most people who file for bk already have negative credit items showing on their report, so a credit check pre-bk will yield much the same results. If you have not gone late on anything yet, then it is definitely better to open the account now, pre bk.
                        You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

                        Comment


                          #13
                          Originally posted by backtoschool View Post
                          Some banks do credit checks to open a checking account and some only use chexsystems. Ymmv. Many that do credit checks will not keep you from opening an account with a bk, but they may not grant you a debit card and will most likely not grant you overdraft protection on your checking account. There are plenty of banks however that will grant you a debit card even with a bk on your report.

                          Banks that do credit checks in the first place, will most likely subscribe to account review services and get updates on your account, so the bankruptcy will show up. If you do not have credit with these banks, it should not be an issue to your account.

                          It is probably easier to open the account before you file, but most people who file for bk already have negative credit items showing on their report, so a credit check pre-bk will yield much the same results. If you have not gone late on anything yet, then it is definitely better to open the account now, pre bk.
                          this is excellent advise...we opened our accounts pre-bk....in two different banks...got debit cards and have had no problems.

                          i do believe if we had waited until after the discharge, there could have been a problem...so we just did not want to take the chance.
                          8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                          Comment


                            #14
                            I agree tobee43. If possible, it is best to open a new account pre-bk. It will be easier and you will have more options.
                            You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

                            Comment


                              #15
                              This may sound dumb, but I too have had the same bank forever. We filed yesterday, and we did open a new account at a small bank we have no debt with with a small amount of money just to get it started and order debit cards. I am now waiting for the check I paid the lawyer with to clear from original account and as soon as it clears just close it because I have them listed as creditors for a HELOC and a CC. Can they freeze my account? How do I actually close it? I dont remember the last time I ever closed a checking account. Just take out all the money? Do we have to sign something? Both of our names are on two checking accounts, not much money in either one mind you! My daughter has her own checking that I am just a signer on. Should she close hers too?

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