Chasing some rates/bank toasters and opened a few account but then got turned down for the last one. Do I have to wait before I open any new accounts? How long? Why did this happen?

Frank..where do you live?

http://newsroom.bankofamerica.com/index.ph...s&item=7885


Special Note:
Starting this year LaSalle will be changing to Bank of America. Bank of America will only accept new accounts regardless of credit history and chexsystems history for a short time, so hurry! Just apply online.
The combination of LaSalle Bank and Bank of America joins LaSalle Bank's strong presence in Illinois North Central Indiana, and Michigan with nationwide convenience and the resources of Bank of America. With this combination, you will have access to more locations, products, services and community support than ever before.


More and more people are also being denied accounts with Bank of America now due to EWS. Very soon I am afraid I will be removing them from my list

http://www.early-warning.com/pdf/DEPOSIT_C..._Case_Study.pdf

odd it was laSalle not BofA that killed my application, b/c it was in Oct/nov of last year.

Why do banks view lots of checksys reports as neg. if they are not about bad checks etc. So what if you open alot of accounts, if you are not stiffing the bank what is the problem?

I have no idea of the actual statistics, but from personal experience, friends, family, associates, etc. let's assume that most average American's have from 1-3 checking accounts on average.

I bet most if not all banks would be suspicious of someone opening more than 2 or so new bank accounts within a short period of time. You mention a "few", so I'm guessing at least 3 or more. I suspect you sent the fraud alert software into a tizzy at Lasalle.

opening too many accounts can be deemed " suspicious" by chexsystems and they will flag your account. Generally this is if you are to open so many within a certain time frame.

Banks may think you're up to something no good (maybe a complex check kiting scheme), if you're opening up a bunch accounts at once. In fact, you could risk just recently opened accounts being closed on you if you apply for new accounts shortly afterwards.

To be on the safe side, I wouldn't open more than one bank account every 90 days, even though I heard opening two at a time might be OK. So if you're thinking of going into the toaster retailing business, you won't be able to get enough inventory by opening checking accounts.