BofA has extended me $41,500 in credit...

[Sidewinder]

...and just turned me down for a savings account.

 

[MP80]

You have to understand each account application is verified individually, it doesn't matter if you already established a few accounts with that bank if they say that they can not verify you on this account, mean only this account despite you have other accounts with them, it sounds really crazy to analyze it, but it seems many banks have this insane policy.

[Sidewinder]

37 minutes ago, MP80 said:

You have to understand each account application is verified individually, it doesn't matter if you already established a few accounts with that bank if they say that they can not verify you on this account, mean only this account despite you have other accounts with them, it sounds really crazy to analyze it, but it seems many banks have this insane policy.

 

It's frustrating but also alarming that they stated they needed more information to verify my identity, on account of I WAS LOGGED IN TO MY ONLINE BANKING ACCOUNT when I "applied."

 

The state of online affairs is such that I'm empowered to do all manner of banking with my three credit accounts and checking account when their systems are classifying my identity as unverified??

[Burgerwars]

Is there a B of A branch nearby? Maybe applying in person will do the trick. There's stuff like Equifax eIDverify. Also with opening bank accounts, banks can get picky with CheckSystems and EWS if they see recent new account activity. 

Edited February 19, 2023 by Burgerwars

[Sidewinder]

4 hours ago, Burgerwars said:

Is there a B of A branch nearby? Maybe applying in person will do the trick. There's stuff like Equifax eIDverify. Also with opening bank accounts, banks can get picky with CheckSystems and EWS if they see recent new account activity. 

 

Couple hours later (after opening a nice yummy little CD at BMO Harris) it occurred to me: During the pandemic my company sold the building my team had worked in, so our return-to-office was (obvs) to a different building. I therefore now believe my answer to the "work phone number" question is what gummed things up.

[Burgerwars]

21 minutes ago, Sidewinder said:

 

Couple hours later (after opening a nice yummy little CD at BMO Harris) it occurred to me: During the pandemic my company sold the building my team had worked in, so our return-to-office was (obvs) to a different building. I therefore now believe my answer to the "work phone number" question is what gummed things up.

 

With Equifax eIDverify if they have the wrong answers to these security questions and you can't figure them out, if you blow the application process twice, you need to wait a month. Unfortunately you can't dispute this stuff (I tried). Your best path forward is remember what wrong answers are the right answers. One I know is a right/wrong answer is a previous employer. If I see "Constipated Woman" that's right! I'm not kidding. I have no idea where that came from. 

 

[chrishillson]

I've opened a bunch of checking accounts for the bonus and the only bank that ever gave me a problem online was Bank of America. It was "quickly" cleared up in branch after only two trips ("I can see the BoA from my office"). Their reaction seemed to imply they were annoyed because most people go through this and still get denied.

 

Coincidentally BoA has also extended me $40k of credit, I should ask for increase to $50k and see if they counter with exactly 41,500.

 

[shifter]

You must lead an interesting life. You have a knack for finding more problems with banks than anyone in history. 

[Sidewinder]

Back from the branch.

 

The problem was that since I've been their customamer for such a long time now, the DL that they had on file had expired.

 

All fixed now, the account opened is.

 

I have six months to salt away $400 there or else I shall be face to face with a maintenance fee.

: /