When you are in need of a bank account because of the unfortunate event of having your account closed due to insufficient funds and overdrafts, and being reported to Chexsystems, you may wonder if you will ever be able to get another account. If you are in Chexsystems chances are you won’t, at least not for five years. If you have done any research on the Internet you may have come across websites claiming to have a non Chexsystems bank list of all the banks in your area and around the country that will open an account for you regardless of your banking history. The truth is that 99% of banks use Chexsystems as a monitoring service and many of them will not even consider opening any type of an account for you if your name is listed in the system for a bad banking history.
Do not be discouraged however. There are some resources though, few and far between that will allow you to have no credit check bank accounts. One of the more popular solution is the Second Chance Account. There other other, less convenient options, but they usually come in the form of using a prepaid card that you use like a checking account. They even come with routing and account numbers so that you can direct deposit just about any funds whether it is from your employer, your SSI income from the government or even an existing bank account that you may have.
These types of accounts are know as second chance bank accounts and these companies will open an account for you regardless of your credit history. There are many prepaid cards offering the services of a checking account these days and some even come with the ability to write checks online. Your account is protected from overdraft fees so you do not have to worry about bouncing any checks with these accounts.
Bank accounts for bad credit have come on the scene in dramatic style offering perks comparable to a traditional bank account only without the excessive fees. Many have switch to using debit cards as a method of payment these days because it is safer than carrying cash around and it is convenient. The idea of the prepaid card combined with the ability of a bank account gives those who have trouble opening a traditional account some options.
If you are in Chexsystems you do not have to wait for five years to have the benefit of a bank account, you can find a 2nd chance checking account right online and sign up and be approved instantly. If you have been looking for a non Chexsystems bank list no doubt you have found outdated and irrelevant information about banks that may not even exist anymore and the ones offering these lists do require a fee be paid for the information.
There are free resources out there that you do not have to pay for if you take your time and do your due diligence. Remember, most banks do use Chexsystems and if you find a traditional bank that will accept your application it is usually after your Chexsystems record has been updated and your accounts settled with the reporting banks.