BANK OF AMERICA: Can I close an account and shop another location???
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Why close out the first account? I opened a second account at another branch (actually, my first account was opened online years ago). If asked, say you want the second account for a different reason. I said I wanted an account without my hubby on it and they didn't even blink an eye. To avoid the $12 a month fee, the account I opened would need to have a direct deposit of at least $250 every month, which isn't a problem.
Check the guidelines. If it's allowed, you could be opening a second account for numerous reasons - saving for a cruise, wedding, new furniture. . .
Also, if you have the extra cash laying around in an emergency fund or something, you can sometimes avoid the monthly fee by having a minimum balance instead of setting up direct deposit. Checking accounts are often higher: $1500 or so. But savings accounts can be much lower... sometimes just a couple of hundred bucks. And if you have other accounts with the bank, they can sometimes use average daily balances for all of your accounts instead of individual minimums.
Shopper in California's Bay Area
Arch, a different MSC stated in their guidelines that if you closed an account you could still open a second account with same bank even at the same location. If the bank employee questioned you, you could say that you were unhappy with the bank you switched to and now want to switch back. But I'm not sure if that reasoning will fly with your MSC. Best to ask the scheduler. I'd be interesting in hearing the answer if you find one.
Edited 1 time(s). Last edit at 09/02/2016 04:18PM by ChrisCooper.
Edited 1 time(s). Last edit at 09/02/2016 04:18PM by ChrisCooper.
One of the best reasons I've found-- if you're in the age group-- is to say you're opening it for a child, grandchild, or because you found out you're expecting 
MegglesKat
It won't raise any red flags with them. They will see that you have a profile, that's it.
You can have more than one checking account open. All of the branches are linked.
Check the guidelines and see how long you have to keep the account open. For mine it was two weeks. If you keep it open longer, find out what you need to do to avoid the fees (balance, direct deposit, swipes, etc.).
I had a savings account that was required to stay open for 6 months. I had the minimum in there to avoid any fees. I was able to do many other shops with that MSC and others. The only reason I closed it was so that I could do another shop of the same type.
You can have more than one checking account open. All of the branches are linked.
Check the guidelines and see how long you have to keep the account open. For mine it was two weeks. If you keep it open longer, find out what you need to do to avoid the fees (balance, direct deposit, swipes, etc.).
I had a savings account that was required to stay open for 6 months. I had the minimum in there to avoid any fees. I was able to do many other shops with that MSC and others. The only reason I closed it was so that I could do another shop of the same type.
"I told myself to quit you; but I don't listen to drunks." -Chris Stapleton
BOA has every account that was ever opened or closed in the system forever.
Before I even started shopping, I moved states and then closed and re-opened accounts in the state I moved to. Since then, I have added and closed several savings accounts and added and removed additional checking accounts. There are at least 12 closed accounts in the system for me.
I have had a banker say, "It looks like you have been a customer for quite a while!" as they scroll through all the old accounts and look at the opening and closing dates. It has never been an issue and they will tie them to your existing minimum required balance or direct deposit requirement.
Before I even started shopping, I moved states and then closed and re-opened accounts in the state I moved to. Since then, I have added and closed several savings accounts and added and removed additional checking accounts. There are at least 12 closed accounts in the system for me.
I have had a banker say, "It looks like you have been a customer for quite a while!" as they scroll through all the old accounts and look at the opening and closing dates. It has never been an issue and they will tie them to your existing minimum required balance or direct deposit requirement.
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