checking accounts!?

Question

Does anyone know of any banks that open free checking accounts without a credit check?

Answer 1

Most banks check either Telecheck or Cheq systems to see if you have written a bad check.

Main Source Bank
US Bank-They have a second chance checking
Star Financial Bank-Indiana only
Key Bank
Maybe National City Bank

I have came across only two banks that do credit checks.
One bank did it for both the Checking and debit card.
Another bank did it only for the check card.

Answer 2

Probably not. The reason banks are requiring a credit check is that they are taking a risk with a person who has a history of bad credit. This person could open a checking acount and then write ton's of checks with out the funds to cover it. Or they could simply write a few checks over their balance and then when they got hit with the NSF charges they would simply close their account.

You have to understand that a bank incurrs processing cost for every "exception item" they have to deal with. These NSF fees and overdrawn fees are attempts by the bank to cover at least some of their expenses. A person with a bad credit history... A)will most likely create these types of charges and B)will most likely not pay them.

Now we understand why a bank want the credit check, you should be able to see why the will not want to open an account with a credit check. How do you get around that? Well... I suggest you go into the bank and request to speak with the new accounts supervisor. Explain to them that you've had credit problem and are working to correct it. Telling them up front you are credit risk will go a long way in gaining their trust. Then ask them if there is a way that you could open a 'collateral savings account' where you could deposit a given amount (say $500) that would be 'frozen' as colleteral in lew of a good credit report. Most banks will be happy to make this kind of agreement.

Well.. I hope this helps and good luck!

Answer 3

All banks perform credit checks to open a checking account - - its part of the security measures after 9/11

Answer 4

Bank One now Chase

Answer 5

No... we have to do credit checks to see if you've left other banks with chargeoffs. If they show up, then your request is obviously denied.

Answer 6

well i think they all do credit checks

Answer 7

YES WE DO @ NATIONAL CITY BANK CORPORATION AND WE ARE IN OHIO AND WE LOVE DEADBEATS , LLOSERS AND IRRESPONSIBLE CUSTOMERS AND IF YOU BELIEVE THAT WE DO STOP IN AND WE CAN LEASE YOU THE BROOKLYN BRIDGE WITH TOLLBOOTHS TOO .

Answer 8

No.
I would be amazed if you found one.