If you have poor financial credit, many banks will consider you a risk. Banks consider a financial risk, someone who has bounced checks, kited checks, accrued NSF fees, or even had a negative balance for a specific amount of time. Oftentimes, once your poor credit has been noticed you will no longer be extended the opportunity to bank with ChexSystems banks.
ChexSystems is an agency that collects data on financial customers. They monitor for risks in order to protect banks and credit unions from extending services to people who have a habit of being financially irresponsible.
However, almost every state has what are sometimes called ‘last chance banks’ or ‘non-ChexSystems banks’ which provide services to customers with bad credit. These financial institutions accept you, knowing that you are a risk. This can mean that they may require a deposit to be held in reserve, in case of NSF fees, etc. or it may mean that they require some form of collateral. Either way, you are able to rebuild your credit by using these alternative banks or credit unions.
Vermont has no financial institutions that are Non ChexSystems Banks. You may want to contact your local banks and see if any of them would be willing to work with you. Or, you may see if you can get a bank account from a nearby state. It is in your best interest to find a bank account that will work with you as it is difficult to survive without some kind of bank account.
Since there is no current records of Non chexsystems banks in the state of Vermont, our recommended solution is to open up an online bank account here.