U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 02-16-2012, 08:55 AM
 
591 posts, read 2,183,451 times
Reputation: 423

Advertisements

I am wondering if banks can legally refuse to open accounts for residents of certain states? Or states outside the states where they have physical branches?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 02-16-2012, 12:02 PM
 
297 posts, read 669,498 times
Reputation: 304
I would imagine they could refuse to do business with anyone they did not want to do business with!

And I would imagine the accounts they might not want to open for certain people would be checking accounts and credit cards.

However for something like a savings account or CD (Certificate of Deposit), I imagine they would be happy to accept money from anyone!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-16-2012, 12:42 PM
 
Location: home state of Myrtle Beach!
6,415 posts, read 20,276,607 times
Reputation: 3628
I believe banks have to be licensed in any state they do business in; thus, your local bank may not be able to help if you move to another state where they are not licensed. Not sure licensing is the correct term, but surely it is something similar to that.

For instance, my old bank in Chicago (at the time was Fifth Third) was not operating in SC when we moved but they did do business in my home state of WV.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-21-2012, 12:23 AM
 
5,588 posts, read 9,869,720 times
Reputation: 4921
Banks can have customers from any state they choose or any foreign country provided they follow regulations. Banks can refuse any customer as long as it isnt discriminatory in nature. They would have a hard time justifying refusing people from just the poorest cities or poorest part of a city, but refusing a state they dont operate in would be easily justified
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-24-2012, 01:42 PM
 
Location: H-town, TX.
3,503 posts, read 6,348,334 times
Reputation: 2232
I'm sure they can. I know credit unions I do biz at keep their clientele to within a certain county they are based in. If you don't work, live or attend school in said county, you're SOL...
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads

All times are GMT -6. The time now is 05:26 AM.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top