If you've had financial problems in the past and have been banned from having a checking account, you may be able to have a second chance at one. In fact, these types of accounts are called "second chance" checking accounts. If you've been reported to TeleCheck or ChexSystems, you are indeed banned from having a regular checking account. However, second chance checking account can get you back up and running and into a regular checking account at some point once again.
This information which has been reported to ChexSystems or Telecheck stays in their systems for five or more years ? during this time you will be unable to get a checking account. One of these second chance checking accounts will gibe you a fresh opportunity to establish yourself a s a responsible individual until you are able to open a regular checking account again.
Banks are aware that there are many who are banned from opening a checking account yet are financially responsible enough to meet the demands of a checking account. Because of this, a lot of banks have set up second chance checking accounts to give these customers a fresh start.
If you think that you may be a good candidate for one of these second chance checking accounts, you should begin by looking at which of your local banks offer them. You also should note what kinds of fees they charge for these accounts ? some will charge as much as $300, but you can likely find one for less.
That said, though, a second chance checking account is a real checking account. You'll have all of the benefits available in a regular checking account with a second chance checking account. You'll have an account number and routing number, so that you can have your paychecks directly deposited to the account if you want to. It's likely that you'll also get a debit card with the MasterCard or Visa logo that will work at any ATM as well.
If all you really need is the debit card, then you can open a second chance checking account where there will be a voided check as part of the setup. You'll still be able to have a routing number of direct deposit, but you will not need to be verified via TeleCheck or ChexSystems. This is areal debit card, not a pre-paid card as you may have been told.
A second chance checking account can be a great option for you if you are tired of the hassle of having to pay your bills with cash instead of by check or automatically, or if you need to use money orders. Banks have begun to realize, of course, that everyone deserves a second chance, and you do, too. Most people take a checking account for granted, and don't realize that not having one can cause major hassles.
In addition, if you don't have a checking account, it can be impossible to bank online. And in fact, many employers require that you have a bank account so that they can directly deposit paychecks instead of having to cut you a paper check. This makes it easier for you as an employee, and of course for them is the employer. It's less embarrassing, too. Of course, you can open a savings account and have your paycheck deposited that way, but that still leaves you the difficulty of having to withdraw money or pay bills by money order.
If second chance checking accounts sound like the solution for you, you'll be glad to know that the number of banks offering these accounts is growing. There are many who could use a fresh start ? if you could too, start looking for a second chance checking account today!
This information which has been reported to ChexSystems or Telecheck stays in their systems for five or more years ? during this time you will be unable to get a checking account. One of these second chance checking accounts will gibe you a fresh opportunity to establish yourself a s a responsible individual until you are able to open a regular checking account again.
Banks are aware that there are many who are banned from opening a checking account yet are financially responsible enough to meet the demands of a checking account. Because of this, a lot of banks have set up second chance checking accounts to give these customers a fresh start.
If you think that you may be a good candidate for one of these second chance checking accounts, you should begin by looking at which of your local banks offer them. You also should note what kinds of fees they charge for these accounts ? some will charge as much as $300, but you can likely find one for less.
That said, though, a second chance checking account is a real checking account. You'll have all of the benefits available in a regular checking account with a second chance checking account. You'll have an account number and routing number, so that you can have your paychecks directly deposited to the account if you want to. It's likely that you'll also get a debit card with the MasterCard or Visa logo that will work at any ATM as well.
If all you really need is the debit card, then you can open a second chance checking account where there will be a voided check as part of the setup. You'll still be able to have a routing number of direct deposit, but you will not need to be verified via TeleCheck or ChexSystems. This is areal debit card, not a pre-paid card as you may have been told.
A second chance checking account can be a great option for you if you are tired of the hassle of having to pay your bills with cash instead of by check or automatically, or if you need to use money orders. Banks have begun to realize, of course, that everyone deserves a second chance, and you do, too. Most people take a checking account for granted, and don't realize that not having one can cause major hassles.
In addition, if you don't have a checking account, it can be impossible to bank online. And in fact, many employers require that you have a bank account so that they can directly deposit paychecks instead of having to cut you a paper check. This makes it easier for you as an employee, and of course for them is the employer. It's less embarrassing, too. Of course, you can open a savings account and have your paycheck deposited that way, but that still leaves you the difficulty of having to withdraw money or pay bills by money order.
If second chance checking accounts sound like the solution for you, you'll be glad to know that the number of banks offering these accounts is growing. There are many who could use a fresh start ? if you could too, start looking for a second chance checking account today!
About the Author:
Steven J. Talrechi has been writing about credit reporting and credit reporting practices for over a decade. He specializes in helping others with second chance banking and obtaining a checking account when they have been turned down by banks.
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