Second Chance Bank Accounts

How To Get A Guaranteed Checking Account

Finding a guaranteed checking account is a lot easier than you’re probably thinking it is. There are a couple of ways to go about doing this, either with a normal bank or with an online bank, and in this post I want to cover the both of these so that you can choose the one that suits your situation the best.

These are also commonly called second chance bank accounts. They’re designed for people that are stuck in Chexsystem, or simply cannot get a bank account for whatever reason. I do recommend that you try and take the steps to get your old bank account back before trying to open a new guaranteed checking account. These guaranteed accounts are going to cost you a bit more, have less benefits, and won’t give you as much of a return as a normal account would. So if you are positive that you aren’t able to get your old checking account back, read on to figure out what to do next.

Guaranteed Checking Accounts At Regular Banks

There are a lot of banks that will accept you, no matter what your situation may be. The problem is that these aren’t the normal banks that you’re used to, like Bank of America or Wells Fargo. Instead they are smaller and more local banks.

The biggest bank that helps people out in your situation in California and the Southwest is Compass Bank. They have a checking account that is guaranteed, and does not go through the Chexsystem list to figure out if you are able to qualify.

What if you don’t live in California, Arizona, New Mexico, or Texas? Unfortunately there aren’t any bigger banks that will help, but that doesn’t mean you’re out of options. Small, local banks in your city love to take customers away from the bigger banks, and are normally willing to overlook some of your past banking problems to hook you up with an account. Grab your phone book and look for small banks that probably only exist in your city to get started.

Guaranteed Checking Accounts Online

Second chance banking through one of the online banks is completely guaranteed that you’ll get approved. All they want to make sure of is that you’re a legal US citizen. If you can prove that, you’re going to get approved.

So where do you find a company that will do this for you? Look just to your right for a banner for Vision Premiere. Filling out that form is going to get you a checking account right now!

You’ll get many of the same benefits out of Vision that you will from a big bank, but the biggest difference is how you deposit cash. You will normally do this at a Western Union or Moneygram store and they send the cash to your account. Most checks can be sent in through direct deposit.

As far as fees go, they vary from one company to the next. Vision cuts your fees in half if you can get direct deposit for your paycheck. This reduces the fees to about $5 a month, which is comparable to a normal checking account. You’ll also get online banking, text message alerts, a debit card, overdraft protection, and many of the other good things that come with a checking account.

It’s really not hard to find a guaranteed checking account. You now have two clear choices, either find a local bank that can help you or apply online. People are normally more comfortable dealing with a normal bank, but the easier route is to take the online one.

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