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  Home >> Accounts >> Savings Accounts  
Dealing with Closed Account

I recently found out that my bank accounts have been closed. Why can't I open an account with another bank? Is there anything that I can do to be able to open a savings account?


Although you haven't provided any background information, you may have had problems maintaining your accounts properly. Banks rarely unilaterally close customer accounts unless there has been some mishandling.

If you find yourself unable to open a checking account with other banks, it is likely that your former bank reported its experience to ChexSystems or a similar credit reporting agency, and other banks are finding that report when they check on your history at account opening. Although some banks may refer to credit reporting agencies prior to opening a savings account, that's not always the case. Inquire of other banks in your area to determine whether they will open a savings account for you.

Published on BankingQuestions.com 6/19/08