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Is There Communication Between Banks?

Do banks report to each other how much money is on deposit? Does {my bank A} know that I have money in {my bank B}, if they want to know?

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No. One bank doesn't know where else you have accounts. Some banks "data mine" accounts though. That is, they may notice on your transactions such as checks clearing, to whom you write checks. They may see those businesses as potential customers or may see the movement of funds between banks if you frequently move money back and forth, but that doesn't necessarily mean you have deposit accounts there and they certainly don't know how much you have, if you do bank elsewhere.

Published on BankingQuestions.com 6/04/09