Over the years I have always suggested always having more than one bank and never having all of your money in one place.  This is especially true when using a bank or credit union that uses chexsystems.  There have been occasions that banks will close account that are in perfectly good standing due to a chexsystems record.

Do not believe that just because a bank allows you to open an account that they will not later close it.  Over the years I have had too many people tell me that they were approved by the local branch manager just to have the account closed later.

A recent story was one where a gentleman went into a bank to open an account and told the manager that he used to have an account there that was closed and reported to chexsystems.  The manager looked his information up and said he should never have been reported in the first place and she was glad to open a new account for him.  He asked her is there was any way possible to remove him from the chexsystems database and she was more than happy to find out if it was possible.

Later that week he got a call from the branch manager.  She stated that she was told that there was no way that they would be able to remove him from chexsystems.  He was thankful to her for trying and was very happy that he was at least able to get a new account.

A few weeks after that he was trying to use him debit card and was unable to. He called the bank and was told that they froze the account and set to close it after 30 days.  He went back into the bank and talked to the manager that gave him the account and she then indicated to him that there was nothing that she could do and it was out of her hands.  It was determined that the banks loss prevention had decided that he was " a risk" and the account should not have been opened.

This is why I suggest never to use one bank if you have had any problem at all with a bank in the past.