If my account was closed because I had overdrafts, what happens next?
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Your former bank may forward information on the account closure to a credit reporting agency, along with the amount it may have charged off to close the account. Depending on which credit reporting agency the bank reports to, the report may affect the credit report that banks or others obtain if you apply to them for credit. It may also be part of a report a bank may obtain if you apply to open a new deposit account. If you owed the bank anything for an overdraft or fees at the time the account was closed, settling up with the bank will mitigate any negative credit report to show that the debt was paid.
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Your former bank may forward information on the account closure to a credit reporting agency, along with the amount it may have charged off to close the account. Depending on which credit reporting agency the bank reports to, the report may affect the credit report that banks or others obtain if you apply to them for credit. It may also be part of a report a bank may obtain if you apply to open a new 