Bank Accounts

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    @Jasmineedwards63 from my understanding I was told that I needed to upload each and every bank statement for the last 3 consecutive months. I had to continuously upload statements for the last 6 months and am still uploading statements. I believe you have to keep your file up to date until you close and have the keys in your hands.


    I had 3 bank accounts. I had to close 1 and keep 2. If I had a choice I would keep only ONE account. It will make your NACA process much easier. Same for CC. You don’t have to close them. Just use only 1-2 cards.


    Hi, Jasmine,

    You have to upload statements from all the accounts you’re actively using — but you can only actively use a maximum of 3. I had to take all the money out of my 4th (except enough to keep it open), show that I took it from there and show that it was deposited in another, then not touch it again so there wouldn’t be any change from month to month and all our money in and out was easily accounted for.

    My two cents on how many bank accounts to have? I would have at least two. One for the payment shock and previous savings that’s going toward the house, and one for daily bills. Divide the month’s payment shock into however many paychecks you’re getting, and have that amount direct deposited to the savings account from every check. That way you know for sure every month you’re making your payment shock, and you don’t have to worry as much about the spending side. Makes it easy to see when you’ve reached what you need for MRF and interest rate buydown, too.

    Good luck!


    Hello Jasmineedwards63,

    I’m afraid it’s all pages from all accounts, period. Unless you are self employed and some of them are business accounts, there should be no reason for any one individual to have six bank accounts. A checking account and a savings account should be more than adequate.

    Some people claim the multiple accounts are supposedly there to help them control and understand where their money is going each month, but it’s almost certainly having the opposite effect. What they’re really doing is using the other accounts to make sure they get the essentials covered, so they don’t have to deal with tracking what’s left over.

    Instead, download a good budgeting app to your phone. Most of them are free, and it will help you track and categorize where your money is going. It’s only then that you can truly understand and take control of your money instead of it controlling you.

    Tim Trumble
    Online Operations, NACA


    Hi Tim. I understand your point of view, but I certainly disagree as I am great with my budget. I don’t use my accounts to make sure the essentials are covered. I am a personal banker and I don’t allow my money to control me.Your opinion isn’t relative to my situation.

    I will upload all statements and go from there.

    Thank you.

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