| A new bank account ought to be something that | | | | credit score, system, by the way. Rather, the reasons |
| every person - teenager, adult or senior citizen should | | | | for getting your name reported to Chex Systems can |
| be able to get. After all, banking is a pretty simple | | | | vary greatly. Simply put, anytime a bank suspects you |
| proposition: you give the bank your money to hold for | | | | of check fraud, bank fraud, wire fraud, not repaying |
| a while to do with it as they please. Meanwhile, | | | | overdrafts, or some other questionable activity, they |
| anytime you need to pay a bill online, withdraw some | | | | can and do report your name to this database. |
| cash at the ATM, or check your balance, you can | | | | New Bank Accounts and No Credit Check: 5 Steps |
| access your account and make it happen. Pretty | | | | If you are looking for a bank that will not look at Chex |
| simple, right? | | | | Systems (your "banking credit" status) when |
| Well, if it is so simple, then why do people everyday | | | | considering your application, here are 5 steps to getting |
| get rejected for a new bank account? Most people | | | | there fast: |
| assume it is because they have a poor credit score. | | | | 1. Locate and put together a list of at least 4 or 5 |
| The truth is, that is never the reason. | | | | banks that call themselves "second chance checking" |
| Why People Get Rejected Every Day for New Bank | | | | banks. |
| Accounts | | | | 2. View the website of each of these candidate banks |
| The real reason people get rejected for new accounts | | | | and write down the details about the checking account |
| is something called Chex Systems. This is a huge | | | | offers of each one. |
| database containing the name of every bank | | | | 3. Compare the vital statistics about each bank's |
| customer who has ever done something to make a | | | | account, including information like: do they offer free |
| bank not trust them. | | | | checking? What is their overdraft policy? Do they |
| Chex Systems was invented for the purpose of | | | | have convenient banking hours? |
| benefiting banks by letting them share information | | | | 4. Choose the best non-Chex Systems bank for you, |
| about "problem" customers. Of course, this leaves | | | | based upon your own needs. And, do not ignore your |
| many would-be bank customers floundering to find a | | | | intuition about each bank - how they make you feel |
| bank that will allow them to get a new account with no | | | | goes a long way. |
| credit check. | | | | 5. Apply for a checking account, either online or in |
| Chex Systems has nothing to do with the FICO, or | | | | person. |