Would I Be Able To Get A Checking Account???

[karihager1982]

What is the name of your state?What is the name of your state?What is the name of your state? Michigan

When I was 18 years old (I am now 22) - I opened a checking account, and also received a Debit Card. Months after opening the account, I overdrew on my account by mistake (thought there was more money in the account).

A month later I received a statement in the mail stating that I owed the bank money for overdrawing on my account. They were charging me $5.00 a day plus the amount that I had overdrawn.

That was the first notice that I had received notifying me that I had overdrawn on my account.

So I called the bank to find out if this was right - that I had to pay this full amount since they did not notify me right away (they waited 1 full month.) The lady from the bank told me that was correct, and I would have to pay.

Well - being immature, I said the He%$ with it, and let the bill accumulate. At that time - I just didn't care, as I had other outstanding bills that I had not paid. So I then opened up a savings account instead through our local credit union.

Now that I am 22 (and a little more responsible) I am trying to clean up my credit with past creditors, as well as the bank that I owed the money to.

So here is my question:

Will I be able to open a Checking account again? I have been working with my credit union's non-profit debt program to pay off all my debt. I have made four payments of $315 so far (to be split amoungst the 5 creditors that I owe.)

I heard that if you overdrew or bounced a check previously (and never paid it) that you cannot get a checking account for a certain amount of years.

Is there any truth to this? Do you think I will be able to open a checking account through a bank or credit union?

Thanks so much for any replies,
Kari

 

[Veronica1228]

What is the name of your state?What is the name of your state?What is the name of your state? Michigan

When I was 18 years old (I am now 22) - I opened a checking account, and also received a Debit Card. Months after opening the account, I overdrew on my account by mistake (thought there was more money in the account).

A month later I received a statement in the mail stating that I owed the bank money for overdrawing on my account. They were charging me $5.00 a day plus the amount that I had overdrawn.

That was the first notice that I had received notifying me that I had overdrawn on my account.

So I called the bank to find out if this was right - that I had to pay this full amount since they did not notify me right away (they waited 1 full month.) The lady from the bank told me that was correct, and I would have to pay.

Well - being immature, I said the He%$ with it, and let the bill accumulate. At that time - I just didn't care, as I had other outstanding bills that I had not paid. So I then opened up a savings account instead through our local credit union.

Now that I am 22 (and a little more responsible) I am trying to clean up my credit with past creditors, as well as the bank that I owed the money to.

So here is my question:

Will I be able to open a Checking account again? I have been working with my credit union's non-profit debt program to pay off all my debt. I have made four payments of $315 so far (to be split amoungst the 5 creditors that I owe.)

I heard that if you overdrew or bounced a check previously (and never paid it) that you cannot get a checking account for a certain amount of years.

Is there any truth to this? Do you think I will be able to open a checking account through a bank or credit union?

Thanks so much for any replies,
Kari

Chances are that you have been reported to ChexSystems. You can find out for sure by calling them at 800-428-9623. If you are on Chexsystems then most banks will not open an account for you, especially if you have money that is still owed. If you call Chex and find that you have in fact been reported to them, ask them how you go about clearing up the debt. They should be able to direct you on how to make payments.

The good news is that once 5 years have passed from when you were initially reported, your name will drop off and then you will be able to open a checking account again.

One piece of advice: Overdraft Protection. (not to be confused with "bounce protection") Ask your banker about ODP. It helps a lot!!!