How Second Chance Checking Accounts Work

Second chance checking bank accounts are a great way to manage your money when regular banks won’t work with you. There are a lot of different reasons why you can’t have or don’t want a bank account, but rest assured that there are other alternatives out there that can provide all of the same features and benefits. This article will help you understand how they work and why you would want one in the first place.

Traditional banks work to protect themselves at all costs, and because of this they do not allow people who have had trouble with banks in the past new accounts. Many times this is referred to as being blacklisted or stuck in ChexSystems. The company ChexSystems provides banks a list of the people who have have had their accounts shut down in the past. Fortunately, you aren’t going to be on that list forever and second chance banking is the perfect alternative in the mean time.

In order to get one of these accounts all you need to be is a US citizen and be able to prove it with your valid social security number. They don’t run your name through ChexSystems, there are no credit checks, or even an income verification. The process of applying for an account will only take a couple of minutes, and approval is instant. As soon as you have been approved all of your paperwork will arrive in the mail in just a few days and you are all set!

The advantages of an account like this is that you get most of the main features that normal banks provide. Direct deposit and a real Visa or MasterCard are common with all of the major companies, and most will also offer overdraft protection, online banking, and protection against fraudulent purchases.

Second chance banking is the perfect alternative to paying check cashing fees. It’s much safer than carrying cash around all of the time, and also allows you manage your money responsibly.

One of the best things about second chance checking accounts – open online! The application process is so simple that it doesn’t make any sense to not have one!

As you can see, being denied a checking account no longer has to be the financial kiss of death.

Second Chance Checking Non ChexSystems Banks and Credit Unions Nationwide Directory

Second Chance Checking Non ChexSystems Banks and Credit Unions