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Problem opening new checking account - BOFA

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3 replies to this topic

#1 aacool

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Posted 21 March 2011 - 02:55 AM

I have had a terrible weekend - been unable to sleep and dealing with much stress. To make things simple, I have recently returned to the country and applied online for a BOFA checking account (I might have also selected the Keep The Change saving option). I need a checking account for my company direct deposit urgently.

I received an email from BOFA in a couple of hours with the words: "Thank you for your recent online application for a new Bank of America account. We regret that we are unable to fulfill your request at this time." It invited me to come into a banking center to discuss with a representative. I am unsure if that will help or if it means I'm in Chexsystems (something I had never heard of until now).

A little background: I had a BOFA checking account until about 2007 that I closed while out of the country in good standing. I had also opened a 'Totally Free Checking' Account in a local Milwaukee grocery store with US Bank that I missed closing. I received some mails and a collection notice from them a while later (around 2008) that I ended up paying to the CRA. I'm not sure how this ended up with a CRA and also while I was charged fees for a 'Totally Free Checking'. I wonder if this has ended up in Chexsystems.

To make things simple, what would your excellent members advise I do: I have about 3 options as I can tell:
1) Go into a BOFA location, share the details and since my company is a reputed company and direct deposit is guaranteed (quite sizeable), hope they'll open the checking account
2) Contact Citibank - they have a program for opening checking accounts for international employees with our company. Will this get denied too?
3) Go to Woodforest Bank at a nearby Wal-mart
4) Go to Henrico Credit Union and pray
5) Pray

Any advice would be appreciated. My zip code is currently 23060

#2 mca


    Lead - Chexsystems Help Forum

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Posted 22 March 2011 - 01:31 AM

It might be a good idea to get a free copy of your chexsystems report just to see exactly what is being reported www.chexhelp.com As far as options on an account. IF US bank was the one that had reported you, they would have only reported you to chexsystems. If BOA reported you then they would have reported you to EWS as well as chexsystems.

BOA from what I can tell is not using chexsystems right now and they are only using EWS, So my guess is that there is another issue going on other than with chexsystems and EWS. I am JUST guessing here but I believe they may still approve you and possible had a problem with maybe perhaps identity and that is why they asked you to contact them. Generally if they are going to deny you an account for chex or EWS reasons, they would have stated it. The message that you got is not typically the one I see when a person is denied for chex or EWS reasons.

my suggestions are to contact them and see what they say. If you are reported to chexsystems yes Citibank would more than likely deny you as well. WoodForest would only help you with a personal account if you are reported to chexsystems and not a business account. To my knowledge, Henrico CU has always been a strict chex bank.

Also, what counties do you live and work in?

#3 star007

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Posted 09 December 2011 - 11:29 AM

Yes try US Bank they don't close accounts. They are a Chex friendly bank in general. And they don't use EWS like others do. Bank of America stopped using chex. and only uses EWS. I was told this the other day. It takes about 2 weeks to get the EWS report back. So many accounts will be opened then later closed. It sucks. It's like a game. Then they earn interest on your opening deposit. Which is now locked for 30 days. Big banks suck!! Credit Unions rock. they don't play these games. Specialy NFCU.

I have since applied for banks accounts just to see how they are working right now. I'm in Chex from over 2 years ago (one entry) left on report and reported to EWS one entry. that I'm aware of.

Union Bank of CA opened then closed 1 week later do to Chex. locked up deposit, for 30 days. They are not Chex's friendly at all
Bank of the West. Opened online (review) 2 days later approved for checking and savings. sent in sig cards. Account still opened have not given them any money
Bank of America: strange online app no place for Drivers l. So Im amusing they don't check Chex's only EWS now. (manual review) approved 1 day later. Not holding my breath if they run EWS.
US Bank: opened after running Chex but called to confirm some info. But they opened accounts for me. Chex's friendly
Compass bank tried them about 3 months ago when shopping for a local bank. They opened my account never sent me any thing in the mail but took my deposit but when I called they said account locked waiting for EWS report. Took over 3 weeks to get. That's strange.

bottom line drama go with a credit union that's aware your in the system or a bank that's system friendly. Like US bank or NFCU so you no your accounts are safe. those two I have and will stick with those.

In your case go with a CREDIT UNION

#4 geng

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Posted 14 December 2011 - 12:27 AM

Avoid Bank of America. They have grown too big for their britches and do not care about the little guy, even if THEY make a mistake. Many people use them because they have ATM's nationwide, but its far better to find an alternative whether it be another bank or a credit union.

I know this from personal experience as well as seeing friends taken advantage of by BOA

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