Denied A Bank Account Due To Bad
Credit? There Is A Simple Solution!
The purpose of this page is to provide Checking Account options for people who have less than perfect credit. Most people know that, at some point, they really need to start the process of repairing their credit. You can get 100% Free Information that will help you stop collection calls. Avoid credit repair scams. Choose the right service to fix your credit report. And raise your credit score. Plus receive a Free Credit Evaluation. Sign Up Now at CreditAssist1.com.
But this page you are on now provides information about Checking Accounts For Bad Credit?
Are you one of the millions of people in the United States who have been denied a bank account?
There is database is maintain by a company called ChexSystems. They are kind of like the credit bureau to the banking industry. In fact they are actually considered a credit reporting agency very similar the main credit bureaus that we are all familiar with Experian, Equifax, and Trans Union.
Financial institutions report to them the names of individuals who they feel have mishandled a checking and/or savings account. If your name winds up in the their database, you could find it extremely difficult to open another bank.
Because other banks, who are members, will run a check on a new perspective customer to see if that individual has had: frequent account overdrafts… bounce checks… did something banks consider as an “act of fraud” or otherwise have an unpaid balance owed to another bank on a closed account.
If your name comes back on a Chexsystems Report it is very likely that bank will deny you from opening a new account with them.
Your record stays in their database for five years and can make difficult getting another checking account during that period. Financial institutions lose billions of dollars every year because of check abuse, and outright fraud. This is why 80% of U.S. banks and credit unions are members of this network.
You can obtain your Chexsystems report by mail or by Internet. At the time this page was created the fee for your report is $9.00. However most people will not pay this fee… because they meet the criteria listed below to get a free copy of the report. Many people will qualify.
To order your report online you must have a major credit card… OR… meet the criteria for a free report listed below.
If you do not have a major credit card, or do not qualify for the free report, then you can send a check or money order for $9.00 to the address below in order to obtain a copy of your report. Or contact them by phone.
To receive your report you must include your full name, date of birth, Social Security number, and current address, former addresses from the last 5 years and copy of a utility bill, or something that indicates your current address.
If you have been declined from opening an account at a bank within 60 days you can obtain your Chexsystems Report for free.
Obviously, the only reason why people start looking for information about their Chexsystems report to begin with is because they just got denied from opening a bank account. And that is the reason why most people get it for free.
Also, under the Federal Fair Credit Reporting Act (FCRA), you are entitled to a free copy of your consumer report, at your request, once every 12 months. This is your regular Credit Reports, and your Chexsystems Report, once a year for free.
So you can see why most people never pay for their Chexsystems report. You can easily request your report online. You must provide the name of the bank or credit union, and the exact date they declined you: ChexSystems Attn: Consumer Relations 7805 Hudson Road, Suite 100 Woodbury, MN 55125 Phone: 1-800-513-7125
There options available if you are looking for checking accounts for bad credit.
PERSONAL MONEY ACCOUNTS: If you really don’t have a need to physically write a paper check, (some businesses do, but most individuals do not) then you may not really need to use the banks at all!
Anyone can get a Secured Personal Money Account with Direct Deposit of your paychecks, ATM cards with a VISA or MasterCard logo, Online Bill Pay… and more. No Chexsystems! Everyone is approved!
DENIED A BANK ACCOUNT?
THIS IS THE BEST SOLUTION!
Just think about what it is that you really need? If you can get direct deposit of your paycheck. And a ATM card with Visa or MasterCard logo that is accepted everywhere. And online bill pay, including sending checks directly from your computer, to anyone. Then you do not need to write a paper check at all! You do not need a bank at all! You can get all this and more with NetSpend.
Plus NetSpend will pay you a Free, No Obligation, $20 bonus when you start your account with at least $40. You will have a total $60 balance.
* 24 Hour Access To Funds
* Free ATM VISA Debit Card
* Online Bill Pay
* Online Check Writing
* No Chexsystems Check
* 100% Account Approvals
* Quick Application Process