Hi, I am 18 and I had a student account at a local bank for 2 years. The student account was under my mother's checking account so she had full access to my account via online banking. She needed $150 so she transferred it out of my account into hers online. The problem was that I only had $10 in my account and they charged me $22 overdraft fee. She said she would pay it back within a week, but ran into some financial troubles.
She paid $50 of it back, so my account has been sitting at -$120 for a few months.
I had to quit my job due to an injury and I wasn't depositing any money. I finally came across some cash for christmas, and was going to straighten everything out and get my account back in the clear, but when I checked how much I owed online it said my balance was $0.
I called the bank and they said my account was canceled, but said nothing more.
My question is... if a bank cancels your student account, does it show up on your credit score, or hurt my credit score at all, and do I have to pay what I owed before they canceled my account?

If you ask the bank representatives, they will tell you that you should repay the $120. I advise you to do that, too.

Once a bank overdraft appears uncollectible, or has remained on the bank's books for a period of time, the bank must charge it off. But that does not necessarily mean the bank will stop trying to collect the obligation. One way the bank may try to get some advantage is to report the charged-off account to a credit reporting agency (often called a credit bureau) like Chex Systems.

Many banks subscribe to credit reporting agencies and check prospective new customers there to see if there are reports of charge offs or other negative information. If your name has been reported, you may find it difficult to open an account elsewhere, and your credit rating may be adversely affected.

If you repay the bank, ask them to note that fact with Chex Systems or any other agency they may have reported the charge off to. It won't erase the negative report (if there is one), but it will show that it was paid off. That will take some of the "sting" out of any report given to banks or others who may review your credit report in the future.

Good luck.

Good advice above. Also, hold on to your receipt showing that you repaid the money just in case you have to prove it later on.

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