Checking Account Deals

Checking accounts?

Ok let's say i opened a few checking accounts and they are overdrawned, and so they were closed now and I owe them like 1000 dollars or such. Will i go to jail for that?

Public Comments

1. No. But you might be reported to chexsystems. That's nationwide and it tells banks which customers are the bad ones. If you pay off your overdrafts then they will update your report and say you paid it off. However it still stays on your chexsystems report for 5 years. After that it falls off and you get a fresh start. However if you get reported, some banks might not want to give you a bank account even if you did pay things off. I suggest that you just pay it off asap.
2. If they believe you KNOWINGLY overdrew the account, they COULD seek criminal charges resulting in jail time. Most likely, that won't happen. What WILL happen is they will attempt to collect the $1000. They will also report you to Chexsystems. It will be difficult, if not impossible, to open a bank account until you deal with this account.