I see all these bonus offers online from many banks. I'm tempted to spread my money out and maybe close the checking accounts in 6-12 months. Is there such a thing as trying to open too many bank accounts, like having too many credit cards? Can a bank refuse to open an account for a person because the person has too many checking accounts?

Thank you for reading this.

Can a bank refuse to open an account for a person because the person has too many checking accounts?

Yes, a bank can refuse to open an account for any reason (or no reason at all), although I've never heard of it.

One thing you might want to keep in mind, though ... many banks will not open an account if your ChexSystems record has 3 or more inquiries within the last 90 day period.

Thank you all for all the information. Do all banks use ChexSystems? Would they also use this system even for opening savings accounts? Would a person have a better chance going to a B & M bank than a online bank if they wanted to open an account and they happened to have opened accounts recently? or is this region/area specific? (are rural areas more easygoing in opening accts or would the big city centers be easier? or neither?)

Thank you for reading this.

I have been extremely fortunate...In the space of 2 months, I have been able to open 8+ bank accounts. (half were cds and savings, but the rest were checking accounts)

If you want to open a bunch of accounts - go ahead and try, but I think as bankers, we should not be counseling you on how to best go about it. While your specific agenda may be noble, most people that open a large number of accounts are up to no good. How many checking accounts does a normal person need afterall?? The last thing we need to do here is to describe all the fraud preventive techniques banks use and end up getting further exploited by people who's intent is less than above board.