Want to open a checking account for bad credit? Good luck if you try going through a traditional bank. These days, most banks will NOT give you a checking account if you have had some sort of financial problem in the past. This unfair policy has resulted in thousands of people who are effectively “locked” out of the banking world, prevented from opening a new bank account.
It’s important that you stop and think about how you can improve your own financial habits. While you may decry the banking policies that punish people for bad finanical management, the bottom line is that you will need to make some changes to the way you manage your money. To AVOID getting getting added to the ChexSystems list, you want to make sure you:
1. Pay off any overdraft fees as soon as you can. These will leave a nasty mark on your banking history.
2. Never close down a problem checking account. Work the issue out and restore the account to a proper status.
3. If you owe money for checks, pay that money. This is a big no no.
These three things might just be enough to convince a bank to allow you to open a new account. If all else fails, then you can seek out option #2.
This is to open an Internet Bank Account. These type of accounts don’t usually do a banking history check, so you stand a pretty good chance of being able to open a new bank account. Now this may seem pretty scary from some people who are only used to dealing with Brick and Mortar banks. However, internet banking is a completely safe way to do your banking. If you use the web to transfer money, pay bills, or other financial activities with a standard bank account, you will be able to use an internet bank account without problem – it’s the same principal.
Before you get one of these accounts, ask yourself these questions:
1. Will I be able to make monthly payments for my second chance account
2. Can I be responsible with my account?
Since a second chance account is your last bet for getting a new banking account, the last thing you want to do is do something to get it closed down. So make sure you can actually afford the account!
So how can you get an internet banking account? The best way is to start looking around online. There are many internet bank account companies offering you their banking services. However, it does pay to be discriminating and picky. Not all of the banking rates will be the same from company to company. You can either take a look at a dozen or so and make comparisons or look online for a website that offers people guidance on what to look for in a good internet checking account.
