Where To Open Free Online Checking Account With No Chexsystem For Blacklisted People
Some big banks now offer second chance banking for people who are unable to open a new checking account elsewhere. If your name has been entered into the Chexsystem database, it is very difficult to remove and you will face problems applying for normal banking accounts. Try Wachovia Free Checking Account, Bank of America Advantage Checking Account, Chase Access Account, Compass Bancshares Inc, Woodforest National Bank, etc.
When you are blacklisted by banks, the only option left is to use second chance banking accounts or approach US banks that are not using the Chexsystem for verifying new customers credibility. Many US banks use Chexsystem to check for blacklisted consumers who have multiple bounced checks or unpaid balances. These are high risk customers that many banks do not want to deal with in order to reduce the chances for fraud.
There are many reasons why people are listed in Chexsystem by their banks or lenders – usually when they default on a bank account, blank enveloped the ATM, or forget to pay any fees etc. When the bank cannot get back their money, their response is to file an entry in Chexsystem and blacklist you from future banking services. Without a checking account and bank card, it is very inconvenient and you cannot do simple things such as shopping online, paying bills, reverse hotel rooms, air tickets or rental cars etc.
However, there are still many US banks not using Chexsystem to screen new accounts, so you can apply for second chance check accounts to conveniently manage your money.
The easiest way to get accepted for second chance banking is via alternative banks such as Vision Prepaid. Some of these may not be a member of the FDIC, so your deposits may not be insured. What I would do is to avoid depositing too much money in such second chance checking accounts, whose primary purpose is to rebuild credit and get back normal checking accounts at big banks. However, there is almost no requirements to instantly open a new Vision Prepaid account with no Chexsystem check, no credit check, no employment verification etc. You do need to be a legal US citizen. You can complete the entire application process in 10 minutes and approval is instant decision. Your banking materials will be mailed to your residential address in a few days.
Best Second Chance Checking Account Offers From Big US Banks
There is almost no difference between the second chance accounts at various US banks. The most important factor for most consumers with be the fees. It is difficult to get free second chance checking accounts with no fees no minimum deposit, but they are still very affordable. Depending on your usage, you can look for banks with second chance accounts that offer the following free benefits:
Direct deposit with no fees
Free Visa or Mastercard
Online banking tools
Credit line facility
Safe And Legit Second Chance Checking Accounts
Actually, both big banks such as Wachovia, Bank of America, Chase etc as well as alternative banks like Compass Bank, Woodforest National Bank etc offers checking accounts with no Chexsystem check. While some accounts are not FDIC insured, you can check their customer feedback and financial ratings to verify whether they are legitimate, stable and your money deposits there are safe. For example, you can get the Vision Prepaid Visa card or the Capital One Reloadable Prepaid MasterCard which offers zero liability protection against fraud expenses. Most legit banks will offer some form of protection for your money otherwise they will have no customers at all.
Definitely, all banks are providing second chance checking accounts because of profits and not just to help Chexsystem blacklisted consumers. Second chance banking is definitely cheaper compared to check cashing and wiser than carrying all your cash around. Although there are more fees associated with various banking services and ATM usage, but the convenience and security offered is worth the cost. We recommend you open second chance banking accounts with no monthly fees for direct deposit. This way, the monthly account maintenance fees is under $10 average.
The best way to remove your name from Chexsystem is to simply wait for 5 years, but in the meanwhile you can open and use your new US banking account until you are no longer blacklisted at normal banks. It is a necessity for keeping your money safe and offers a reliable and convenient way to handle your finances.