Second Chance Bank Accounts

Where To Find Bank Account Without Chexsystems

Bank account without Chexsystems are out there, but you have to look in much different places than you would if you were applying for a standard bank account. This can be done in your city or online, and the method that you choose will depend on what you’re looking for out of a new account. If you need something that’s full featured, local will be your choice, but it all you need is a place to keep your cash and pay bills online, second chance bank accounts are the way to go. In this post I want to break down the difference between these so that you can get a new account without Chexsystem getting in your way.

Online Bank Accounts Without Chexsystem

There is a huge industry online that provides bank accounts to people stuck on Chexsystem. These are commonly called second chance bank accounts, but are also considered prepaid debit cards. What you’re getting with something like this is a safe place to keep your money when you don’t need to do much else other than spend and save. They are pretty bare bones when compared to what a regular bank can provide, but they’re a hell of a lot better than check cashing!

Vision Premiere is the leader in this industry. You can check out their website with banner to the right. You’ll get online banking, a debit card, fraud protection, and a bunch of other helpful features. Your money won’t earn interest like it would at a regular bank, but when you just need something quickly that’s really not that important.

The best thing about bank accounts like this is that you’re going to get approved right away. All they’re going to require is that you have a valid Social Security number to prevent money laundering, and you’re approved. Filling out the form will guarantee approval, and the paperwork that goes along with it shows up in your mail box in a couple of days.

These accounts have fees that are comparable to a regular bank, but they are generally charged on a per action basis rather than a flat monthly fee like big banks do. For example, calling customer service or requesting a paper statement will incur a small fee. There are also lots of discounts available as well, for example if you have direct deposit from your job you can cut your account fees in half with Vision Premiere.

Local Bank Accounts Without Chexsystem

In order to find a bank account that isn’t going to run your name against the Chexsystem list in your area you’ll have to turn away from the big banks. That means no Bank of America, Chase, or Wells Fargo. Instead you’ll have to look at the smaller, more local banks.

If you happen to live in an area that Compass Bank works in, your problems are solved. They have an account that is designed specifically for people in your situation. The problem is that most people don’t live anywhere near a Compass branch, and they require that you’re close by to get approved!

So what else can you do? Try out the banks that are based in your area. These small banks love to take customers away from the big banks, which means that many of them are willing to look past the issues that you’ve had with banking in the past. Not all of them are going to help, but with some perseverance you’re bound to find someone that’s willing to hook you up.

Whichever route you choose to take, you’re making a good decision. When you stop and think about what you’re paying for with check cashing, it’s enough to turn your stomach. All you’re doing is paying them a percentage of your hard earned money for them to pull your check through the bullet proof glass and push cash out to you. That’s highway robbery, yet millions of people use it every couple of weeks. Bank account without Chexsystem will stop you from wasting money on something as silly as this and put more cash into your pocket every month. Avoiding check cashing fees by doing this is one of the smartest moves you’ll make!

No related posts.