I had a checking account closed due to a few overdrafts - $200.00 worth - what's the best way to get a new account? Will the bank allow me to pay this off and open a new account? My new job requires that I have a checking account for direct deposit of my paycheck.
If you can't have your pay direct deposited to a savings account, try to work something out with the bank to repay the old debt in reasonable installments. Once it's paid off, ask the bank to notify any credit bureau to which they reported the overdraft that the balance has been paid off. If the bank allows you to open a new checking account while the old debt is still being paid off (not likely, but it could happen), get a written assurance that the bank won't charge your new account for the old debt as long as you are sticking to your agreed payoff schedule on that overdraft.
If you aren't comfortable opening the account with the old bank, there may be a bank in your area that will open one for you regardless of the former banking problems. Some banks refer to such accounts as "second chance" accounts. You should still work on paying off the old overdraft to get your credit report updated, though.
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If you can't have your pay direct deposited to a savings account, try to work something out with the bank to repay the old debt in reasonable installments. Once it's paid off, ask the bank to notify any credit bureau to which they reported the overdraft that the balance has been paid off. If the bank allows you to open a new checking account while the old debt is still being paid off (not likely, but it could happen), get a written assurance that the bank won't charge your new account for the old debt as long as you are sticking to your agreed payoff schedule on that overdraft.