I don't have perfect credit. I also collect SSI & SSA and want to have it direct deposit. Recommend banks?

Question

Could you recommend a bank for direct deposit for my SSI & SSA checks? I've had my ID stolen so my credit is not the best.

Answer 1

Banks won't turn you down for a checking account for having bad credit. . . what they will turn you down for is if you have overdrawn a checking account repeatedly (or once and never paid it back).

If you have done so, then you are often listed with companies like Chexsystems, and most banks won't let you open an account.

If this is the case, try a local credit union, and/or have proof of income from social security ready when you go in to open the account. The fact that you will have direct deposit decreases the risk of you overdrafting and not bringing the balance back up into the positive.....and if you ask for a savings account, they are even more likely to say yes, because then the chance of checks and debit card transactions bouncing/overdrafting is also minimal (checks by phone or auto billpay could still cause problems, but those are usually not forgotten by an account-holder the way that a swipe of the card for late night snacks is...).

OR: You might be able to take a one-day class that will teach you "how not to bounce a check" and then a bank will let you open an account, even though you were on Chexsystems (see http://www.getchecking.org/locations.php)

Finally, you can try visiting http://www.godirect.gov , and scroll down to the section "What if you don't have a checking or savings account?", there you will see a toll free number to call and they will refer you to a bank that generally offers direct deposit to people on social security and/or SSI.

Answer 2

Visit the banks in your area in person or on line. Consider all of your options and what will work for you and what won't and make a decision. Most banks have a direct deposit program as a matter of fact they welcome you. Peace!

Answer 3

Any bank in America will let you do a direct deposit. Go to the one closest to where you live.