Chex System Question

They generally will not report you unless there is money that could not be collected and the account was closed! I would not worry about 2 nsfs. If that was the case 25 percent of the population would be in there.

BOA is fast to report to chexsystems. Were the checks returned? or were they paid?

Banks can report for just about anything they want. I would not assume that just because the account is still open you haven't been reported. There have been cases of people that still have the account but were reported for some banking "sin".

All I can say is that I was 1000.00 overdrawn in my BOA account twice and was never reported. The info I posted above was provided by a VP at Bank America regarding their general poicy when I asked him about this. Yes it is possible for somebody on a power trip to go against policy but I would still consider it unlikely after 2 NSFs. That would be bad business and cause them to lose normally good accounts for little mistakes. They want to keep accounts open.

Over the years I can not tell you how many people have told me that they had an account and closed it and moved away to another place. When they tried to open a new account they found they were reported to chexsystems because of an NSF that they had on the old account years previously that was taken care of immediately.

I was not saying that BOA will close the account if you have an NSF, I am saying that some banks like BOA will report you to chexsystems quickly for things as small as NSFs. This is also the other reason I tell people to never close an account without pulling a chexsystems report first.

This situation shouldn't happen but it does and it happens all the time. YES there is a good chance BOA didn't report you at all, but could they have? yes most certainly.