Checking Accounts for Bad Credit

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There are checking accounts for bad credit out there that offer banking service to people who are unable to open any other. These accounts are great for people who don't are completely unable to open any other bank account because of ChexSystems problems.

But a warning: second chance checking accounts are NOT the ideal solution if you can open another bank account!

If you find yourself locked out of most regular banking services because every bank you apply for an account with does a ChexSystems banking history check, then you should look for a bank that does not have a ChexSystems credit check.

This is easier said than done, however. The thing is, it's not exactly easy to find a bank these days that doesn't use the ChexSystems network. There are a few banks out there that don't, but they are in the minority. Your best bet is to call up all your local banks and ask if they do a ChexSystems credit check. If you are lucky, you might turn up some banks that don't use it. If you can't find any banks in your area that don't use ChexSystems, you will have no choice but to get a second chance checking account for bad credit.

Now here's the thing with these accounts. They are expensive and they are internet bank accounts only, BUT you can use one to get a regular bank account in only a year – while still actually having a bank account. If you don't get a second chance account, you are going to have to wait 5 years until ChexSystems drops your name from their database.

If you maintain a second chance account for one year, you will be able to use the account to "prove" to the banking world, as it were, to give you a regular bank account. This is where these type of accounts come in handy.

So if you can't get a bank account because of bad credit issues, look at getting a checking account for bad credit.