Wachovia closed me.

They may, if they do sweeps of chex system and see that one bank has reported you. Why did Wachovia close your account.

Wachovia is third on my list... how long did you have the account ?

Generally these banks will have a set standard of guidelines that they will use when making the decision to open accounts for those on chexsystems. Banks like Bank of America, Wachovia, Washington Mutual,Wells Fargo, US Bank, and People's Cash Solutions are just to name a few of the bigger ones. Right now most of these banks are making exceptions and opening accounts for people on chexsystems.

Someone emailed me and asked if banks really open checking accounts and then later close them if they find out you are on Chexsystems. Unfortunately yes, there have been instances where this has happened. It seems more common amoung some banks than others.

Some banks have online applications that will approve immediately. Then the bank will wait until the signature card is sent in to actually look at the Chexsystems report. At that point, they will send back the initial deposit and close the account.

Then there are other banks that do "sweeps" on accounts. This is where a bank, generally the loss prevention department will do a random check on accounts with chexsystems. If they find that the customer has a chexsystems record, they then will determine that they person may be a risk and they will freeze account, and later close it.

For these reasons I always suggest that if you have been reported to chexsystems that you try to find a bank that does not use chexsystems at all if possible. Now an exception to this rule is if a bank opens an account and is aware of the chexsystems report. Most times you will be fine with these circumstances. Unfortunately, there have been situations that were reported to me where for example a manager of a branch decides to open an account and over ride the chexsystems report for the customer. Then later the loss prevention department determines that the manager was not correct to open it and once loss prevention decides it is a potential risk, they will freeze the account and then close it.

These situations can create a very bad situation for some customers especially is they have all of their money in this one account when it is frozen and closed. If a bank does decide to freeze an account, they will not allow a customer access to their money for a period of time that is normally 30 days or more. I can not begin to tell you the horror stories that I have heard over the years when this happens. Because of this, I suggest that you always have a back up account if you are going to bank with a bank that uses chexsystems.


Banks reported to me that have closed accounts after they opened them due to Chexsystems.

1.WAMU
2.WELLS FARGO
3.WACHOVIA
4.BOA (not as often anymore)
5.Etrade
Of course these are the larger banks but there are smaller ones that have as well.

Oh sorry I forgot to mention, no I do not believe BOA will close your account. Is it possible? Sure..anytime you use a bank that uses chexsystems and you have been reported to chexsystems you run that chance. I have had 4 people so far in a year or so indicate to me that they opened an account at BOA and later it was closed. I believe it was a situation where they owed other banks money and also BOA itself. One person was allowed to keep the account opened but they had to make payment arrangements to pay back BOA the money that was owed to them. As I said at BOA this is rare now.

If you do not owe any debt ..I don't believe they will ever close your account.

what about best bank.I would like to use it as a back up in case boa closes my account(I owe them a lot of money)

I opened a savings account at a credit union (that has shared branching) while on Chex (almost done with my sentence). I used it for direct deposit and depositing my other paychecks. I know it isn't in the same as a checking account, but it is a backup if needed.

I don't know what state you are in but I was able to open a checking and a savings with Peoples Alliance Federal Credit Union, they do not run telecheck, credit report nor chexsystems. They are located in Miami, New york and Jamaica. BOA will report you to chexsystems and Wachovia too I am on chexsystems because of both.

Peoples Alliance Federal Credit Union is NOT the same as a shared credit union. You must be eligible to join and be able to open the account locally. But yes, if you are local to them and eligible they are a great credit union :)

I opened a bank account with Sun Trust online and they automatically approved me. Two days later I went in to deposit money into my brand new account and I was told that I will receive a letter stating the reason for the closure of the account. Good news was I had an account for two days :). I believe they use EWS. I'm on chex because of BOA and WAMU formerly known as JP Morgan Chase.

Yes Suntrust does use EWS. They do not run it until after the account is opened

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Unfortunately Citibank and some other banks like Wells Fargo, Bank of America, Chase, BB&T etc are well known to open accounts that end up closed at a later date due to chexsystems and EWS issues. It is also important to only order checks from companies that are safe. Something as simple as ordering checks from the wrong company can trigger an account to be closed.