loan,banking and credit
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If you have an overdraft account with one bank can you open an accout with another?


and will the first bank know about the new account and seize the funds in it?

I am assuming you mean you have an overdrawn account (overdraft is a program the banks offer to cover nsf checks). If your account has not yet been reported to Chexsystems you can open a new account...once it is reported you cannot open a new account until you take care of the old account. The problem becomes if you never pay the account you will 1) be stuck at the bank you are at until the rivers run dry 2) the old bank can sue you and/or garnish your wages to collect the amount you owe (depending on the ammount you are in arrearages). You should (before you jump ship) ask if you can make payment arrangments...this would keep them from reporting you to checxsystmes. Source(s): Bank Teller
If they have not reported you yet yes, if you are reported usually not until you either wait 10 years or ask the bank if by paying them they will remove the deragotory mark.
Oh, sure you can- just go for a bank that doesn't do credit checks, like Compass Bank. I once opened a new checking account when my other one was in overdraft because I wanted to get the free gift. No big thing.

Um, you will want to clear up that negative balance, though- they will eventually report it as a collection and ruin your credit.
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