Closed bank accounts

Since the overdrafts have been reported in the chexsystem, you will have to clear those charges first before you get a new account from a good bank. Most of the banks view your records at the chexsystem to understand your past financial history with the previous bank.

Chexsystem report the negative remarks for five years. So, if the remarks are near to this period, you will have a renewed history without paying the overdraft charges. It will become easier to approach the bank for a new account.

Okay, I cleared the old overdrawn account and have an account with another bank, however, now the new bank is stating that I am listed with chex systems and they are going to close my account. What do I do now? The reason my old account was overdrawn was due to payday loan companies that kept submitting checks against my account even though I had stop payments on them. They kept changing the dollar amounts and also the names that they were presenting the checks under..... what a mess.... help..... I couldn't close out my old account since it was overdrawn and there were pending charges via ACH. Any advise.

Every payday loan company is listed with an ID code with the bank. Request your bank to block the ID code of the company so that money cannot be taken out from your account even after changing the amount or the name.

Since you already have accrued some charges in your account and are being reported at the Chexsystems, you will have to clear the charges first in order to open a new account or close the existing one.

Etrade will allow you to open a checking account.

They require a $100 initial deposit. Only downfall is you have to mail in deposits, or have direct deposit with your employer. But they do have awesome tools to help budgeting, like online bill pay, and you can also allocate your money, like to remind you you need to have $200 set aside for your car payment, etc.

You just go to etrade. com and apply there.