If you are having trouble getting a traditional bank account because of problems in the past, an iBankUp second chance account may be just the account you need. This banking company offers you the same privileges as a regular checking account but without the hassle and drawbacks of overdraft fees and other high fees charged by other providers. This is a no credit check bank account so you do not have to worry about being denied because of your credit history.
Non Chexsystems banks do not use this service to check your banking history and the iBankUp second chance bank account will approve you regardless of whether you are in this system or not. All you need to do is provide some basic information about yourself such as your name address and email account along with your social security number for identifying purposes and you have a checking account ready to go instantly.
No longer are people who have bad credit barred from having a bank account these days as there are many resources being offered for second chance checking accounts. In the past you had to wait for five years or more to open an account with a traditional bank if you happen to make a mistake. Now, the wait is over and you can have an instant bank account ready to go with some of the same privileges as the brick and mortar counterparts only cheaper and with less risk associated with overdraft fees.
The bank account can be loaded at any of the network retailers listed and the funds are approved and ready to be used as soon as you load them. The check writing privileges are second to none because it eliminates the paperwork hassles associated with regular checkbooks. You can write your checks online and have them mailed to anyone. You can pay bills, pay your rent, or even send money to friends and family. The checks do not even have to be signed by you. It is all done electronically and the bank takes care of the mailing saving you the time and money of buying stamps and envelopes and waiting in lines.
Bank accounts for bad credit are on the rise because there is a need for them. Because traditional banks charge high overdraft fees many are finding themselves in trouble with bounced checks because the bank will approve the checks even if you don’t have the funds in your account and charge you the amount of the check plus the overdraft fees making it difficult for you to pay them back and keep the account open. When the fees get too high and you cannot make a sufficient deposit, the close the account and report you to Chexsystems which makes it impossible for you to open any type of bank account anywhere else for at least five years.
Second chance bank accounts offer consumers an alternative that they can live with without the high fees and risks and many are turning to this option each and every day.