Don't forget Bank of America

If they approve you online, then what are the odds that they will close the account down the road when they might find a chexsystems report?

So far in the last year or so no one has been closed unless they were later found to have owed Bank Of America money from a previous account.

I can't give you an exact number of people that have been approved and still have the accounts but it would range in the thousands.

i had wamu and overdrafted severly. 240 dollars worth. and i paid them off and rite away applied online for boa and was approved ive been using it for a couple days and its working like a charm so far.(fingers crossed)

MCA,

You said accounts had been closed with BOA later on down the road if it was found that they owe money to them on a previous account. Shouldn't the previous account that money is owed to have popped up in the beginning when someone tries to open a new account with BOA?

You would think that they would catch it right away but apparently this is not the case. They disregard most chexsystems records. They are catching it at a later time from their own personal records. Why it is taking a while, I don't know. I know of a few people that owed BOA and were able to open accounts and they waited more than a month to say anything.

There were a few people that had money taken from their accounts to pay the old debt and then the account was closed. Others were just closed. And I know of 2 people that were allowed to keep the accounts opened as long as they paid the debt owed on the old account. One person was even allowed to set up payment arrangements.

But if you owe Bank of America money, I would not consider them as an option. I just don't think it is a good idea.