Second Chance Banking Options
Are you aware that you could be deprived of the chance to open a checking account? You could experience this issue when you fail to come up with a good history of your previous account. Just like credit bureaus monitor check your credit score, there are systems that monitor your checking account history. Closing the gap in the past may have a very crucial impact to your chance of opening a standard account. But don’t you worry because there is hope – Second Chance Banking Options. In a follow up since our last post, we’ve included more information and options for your second chance banking needs.
What is Second Chance Bank Accounts?
This is a type of bank account designed for people who have lost their ability to open a checking account due to poor history. It is specially used in order to help you re-establish your credibility with ChexSystems and Banks. These accounts generally render basis checking account features.
Granted, you might not intend to go for standard account, but you must have to prove your credibility one more time. Cheer up because second chance checking accounts are already available for upgrades into standard account in just a matter of months so long as you keep a positive balance.
Second chance checking account options
If you are in the United States, there are available second chance checking account options for you. These include the following:
Bank of America offers is one of the most considerably ideal second chance checking account options. Also dubbed as the Safe Balance account, Bank of America offers an account that comes with a low maintenance fee of $4.95, though you are not permitted for any written paper checks. Instead, you will be using payment options such as online or mobile transfer and debit. Apart from that, the account can also spare you from balance getting overdrawn.
BB & T as also boasts its easy second chance checking account. This includes essential features such as complimentary online, unlimited check writing, online statements and money management tools. One of the best parts here is that you can apply in the comfort of your own home via online or mobile.
Chase has also good news for you. As a customer, you have to deposit at least an amount of $25 in order to open an account. While other second chance checking amounts usually come with a lower amount of monthly fee, expect that Chase’s free is comparatively higher.
Citibank also allows you to open an account in spite of the fact that you have been blacklisted on ChexSystems. However, there is no official second chance checking account from this bank. In order to discern your eligibility for this option, you might want to pay a visit to a branch and have your personal checking history checked. If you find it hard to come up with a standard account with other options, you can try Citibank.
There you have it- facts about second chance checking accounts that can resolve your bid to open a standard account despite of your poor history. The options cited above can get you started.