I need a new checking account wthout credit checks!?

Question

I currenlty have (3) "closures" listed with "Chexsystems" and need to open an alternate checking and savings account until I can get my past credit and financial problems resolved.

I am seeking a fresh start and need your help!

Answer 1

No offense, but if you've had three closures already, I think another checking account is the last thing you need. Why not get a prepaid Visa card? Your employer can deposit your paycheck onto it and you can use it everywhere. One of my friends has been doing this for awhile and she's had no problems with it.

Answer 2

You might try Woodforest bank. (They are generally found in Walmarts). There are a few banks that offer what they call "second chance checking" for people who have had problems in the past. You might check to see if your employer has a deal with a bank for employee checking accounts. The banks are a little more lenient with opening these accounts (particularly if you use direct deposit) because they know you have a job.

I would caution you to read ALL the fine print and make sure there aren't any hidden fees associated with the account though. I've seen some where there is a fee for writing more than 3 checks a month, for visiting a teller instead of using the ATM, huge fees for overdrafts, etc. Ask the banker to explain everything in detail for you instead of letting them hand you a bunch of paperwork for the account.

A couple of bank tips: many places will clear checks electronically so they hit your account immediately, not after a few days of "float"
Also, if multiple transactions hit your account in one day, the bank will clear the largest ones first so be careful if your balance is low.
Example: $100 in bank, transactions $4 coffee in the morning, $11 lunch, $98 check for electric bill in the afternoon. Instead of hitting you with an overdraft fee for the $98 check that caused your account to overdraw, they will clear the check first and then charge you for two overdraft fees on the other transactions even though they may have occurred earlier in the day.

Answer 3

First, do what you have to do to resolve the case with chexsystems. Go into your local bank and apply for an interest free checking account since they are usually the easiest. It's important that you keep track of your finances and not bounce checks or whatever the issue was with chexsystems. These things can go on your credit report which you should check once a year. See ftc.gov for the link for credit reports for more information. Remember to keep track of banking fees on your account such as low balance fees and monthly fees as these will affect your balance when you make purchases. Good luck.

Answer 4

Paying your mortgage a month late is a financial problem. Not paying your phone bill, and getting your phone bill is a credit problem.

Bouncing checks is neither. It's a criminal act. You can go to prison for that - and given that you've done it three times, you probably should.

A fresh start? You've already got that. You're walking around, free as a bird, instead of rotting inside the pokey.

You can cash your paycheck at the supermarket. You can pay 19c for a money order at the gas station. You can save your money under your mattress.

Inconvenient? Sure. But a lot less inconvenient than sleeping in the Greybar Hotel. Consider yourself lucky.

Answer 5

Chexsystems IS NOT a credit check. It is a system used by banks to report a negative history with checking accounts. I doubt you will find ANY bank that does not use Chexsystems.

Answer 6

here's a few for you to look at:

wachovia(do not mess with them)
bb&t(i have them and i love them)