[lusttech]

How long until a major bank will close my account after it is overdrawn.

[Krazi]

How long until a major bank will close my account after it is overdrawn.

When a checking account is overdrawn, the bank will refuse to close out the account and will instead ask for some kind of payment arrangement to bring the account back into the black. Thirty days seems to be standard, with some banks willing to give their customers you up to 45 days to pay off the overdraft fees and interest.

If the account is still in the negative after the 30-45 day repayment period ends, the bank may close your checking account and turn it over to a collections agency for further action. They may also report you to the Chex Systems network. Chex System is a national network of banks who share information with each other, as a way to identify risky account holders. Once you've been reported to the Chex System network, it may be very difficult to open a checking account elsewhere which is why paying off your overdraft in a timely manner should be a priority.


Been there and suffered... take care of your overdraft.