I owe a bank money but I want to open an account at another bank, can i?The bank I owe is called Woodforest. They are only in Tx and only in Grocery stores. I want to open an account up at Washington Mutual but I dont want to go through the embarrassment of them deniening me an account because of me owing another bank. I am in the process of trying to pay off the balance I hold with... |
Ditto with Ed re: ChexSystems
If your name is on their list for defaulting the other account - assuming you want to open a checking account with WaMu - that you are very likely to be turned down.
I think you can order report from them to see if you have some records - then you can make your next move.
Or, try opening an online bank's checking account. That way, if you do get turned down you won't have to actually see anyone...
HSBC, FNBO Direct offers better rates on their hi-yield checking account rathe than WaMu - If you can get it through the online banks, I think you'll get a better deal.
But if your heart sets on WaMu - then try to apply for their checking account online at their website - you won't have to face any rejection face to face, if it comes to that...
If Woodforest turned your information into Chex Systems you will have a hard time opening an account anywhere. They can turn your information in even if you are paying off the balance you owe. Since you said it was several years ago, I'd bet that they have in fact turned you into Chex Systems. Washington Mutual will more than likely pull a credit report and Chex Systems report. It just depends on what those 2 reports say exactly and what Washington Mutual's policies are. You won't know until you go in and ask them.
Most banks have a communications system called "Chex Systems that allows banks know if certain individuals defaulted on bank accounts whether they were checking or savings account. Note that if your name comes appears while opening new account with new bank they will not proceed to opening account until lost is recovered and your name has been cleared from other institution. I recommend that you contact your previous bank, negotiate with them to pay and to mail or fax you a letter that states that you are cleared from this mess, this way you can prove to new bank in case your name pops up on chex system as i find that it sometimes it does. Good Luck!!!
Yes, u can open another account. I owed a bank some money and opened one with another bank, then i overdrew that bank and opened another account with the one i still owe money to. Unless your credit score is extremely low it shouldn't be a problem
