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Established Contributor
Posts: 667
Registered: ‎11-24-2016
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Bank account denied

I was trying to churn

https://www.doctorofcredit.com/u-s-bank-200-checking-bonus-nationwide-public-no-direct-deposit-requi...

 

I was turned down. Are banks required to explain the reason for denial? I really want to know. If it's because too many Chex inquiries then I may have to forego bank account churning for less than a year.


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Senior Contributor
Posts: 4,487
Registered: ‎07-17-2014
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Re: Bank account denied

Have you asked them?

 

From that DoC article it looks like US Bank pulls SageStream and ARS, in addition to ChexSystems. 

 

The folks who hang out on that particular DoC thread may be much more likely to give you useful feedback.  If you do post on that thread, I encourage you to give them as much relevant into as you can.  In particular, tell them how many bank accounts you have attempted to open in the last three months and last 12 months, as well as whether you have any derogs related bank accounts (bounced checks, etc.).  Also tell describe briefly the number of credit accounts you have opened in the last year and what your FICO score is.

Valued Member
Posts: 46
Registered: ‎03-09-2017
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Re: Bank account denied

I'm pretty sure you have to be in an area that they service unless you are already a customer, like having a credit card through them. They aren't available everywhere. They aren't in my state at all. Could that be your problem? I figure they'd tell you at denial though.
Valued Contributor
Posts: 1,650
Registered: ‎09-28-2014
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Re: Bank account denied

[ Edited ]

Subexistence wrote:

I was trying to churn

{link to Doctor of Credit US Bank neww account bonus}

 

I was turned down. Are banks required to explain the reason for denial? I really want to know. If it's because too many Chex inquiries then I may have to forego bank account churning for less than a year.


I don't think banks are required to give you a reason for denial of a new account. I'm doing the US Bank bonus - super easy as no direct deposit required, just 2 bill pays of $30+; CC funding for up to $500 for initial deposit a nice plus. You might have failed the identity challenge questions. As I recall they asked me about which bank gave me a mortgage, a car loan question, and the one I hated - multiple choice of a previous phone number, I recognized the area code as being Las Vegas, where I moved from in 2005. Either I made a lucky guess or they gave me a pass for getting 2 out of 3 right.As for maybe too many inquiries with Chex, this is my 3rd bank account bonus this year - some use Chex, others use EWS.

 

Is their a US Bank branch within reasonable distance where you could open an account in person? Someone posted in the CC App forum that he was denied opening an account online and called them and they told him to go to a branch, which he did and opened an account with no problems.


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Established Contributor
Posts: 667
Registered: ‎11-24-2016
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Re: Bank account denied

[ Edited ]

I'm in Maryland.

There doesn't appear to be a branch within 100 miles of me. Anyways how do I contact them to see if they pulled ChexSystem and those other 2 bureaus? I hope they didn't pull because my application said Maryland.


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Valued Contributor
Posts: 1,650
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Re: Bank account denied

As I recall doesn't ask for zip code before starting the app? If there's no US Bank in MD then they wouldn't let you app. I"r call and ask them.

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Frequent Contributor
Posts: 424
Registered: ‎06-04-2015
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Re: Bank account denied

Denied in NY - This would have been my 7th account opened this year.

 

They have to be denying if you're not close to a branch OR if they see you've opened a bunch of new accounts recently.

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Re: Bank account denied


DaveInAZ wrote:
As I recall doesn't ask for zip code before starting the app? If there's no US Bank in MD then they wouldn't let you app. I"r call and ask them.

What is their number?


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Senior Contributor
Posts: 4,487
Registered: ‎07-17-2014

Re: Bank account denied

Any time you are trying to find out the customer service number for company X, the best thing to do is to google X Customer Service.  I immediately got a number for US Bank when I did that. 

 

Of course it is likely that the specialized dept within US Bank that will know the answer is closed on weekends, so you'll have better luck if you start your phone calls on Monday.

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