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#1
05-15-2008, 10:33 AM
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Direct Deposit to new checkings account?
So, my husband and I both receive direct deposit to our checking accounts with Wells Fargo, a bank we will be trying to settle our credit cards with.
Do you recommend that we open a checkings account with another bank so that Wells Fargo does not have a record of how much money we are receiving? or does that not really matter? 
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#2
05-15-2008, 11:17 AM
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Yes , change banks asap. You have whats known as cross collateralization which basically means if you stop paying on a credit card and you bank with them they can just take the money from your checking or savings.
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