Some banks use Chexsystems to track your records relating to your checking history, and it can be a frustrating thing if they have blacklisted you for a variety of reasons. As such, you may find it challenging to find new banks and give you a chance to avail of their services.
Fortunately, there are some practical solutions that may help you always get a bank account or use other options that offer banking solutions. If you’ve had problems with Chexsystems before and you want to get a bank account for your business, the following are some helpful tips and advice that may help you with your banking problems.
Banks That Don’t Use Chexsystems
One of the ideal things you can do is to open an account from a bank that does not use Chexsystems in their banking operations. Yes, non Chexsystem banks can be an excellent option for you if you want to open a bank account.
Although they may still want to look at your credit report, that’s okay, for it may just be a part of their procedures when opening new accounts. Non-Chexsystem banks are usually small or local banks that you can only find in your area, or some few places only, meaning these non-Chexsystem banks do not belong to countrywide bank chains. With that said, you may have a good chance of opening an account from these banks than other major banks who typically check your record using Chexsystem.
Finding banks that do not use Chexsystems may be less challenging for you to look them up on the web. There are updated lists of non Chexsystem banks which may give you lots of options to choose from. Just make sure you choose the one that most likely fits the kind of service you’d want to avail for your business. If you are interested to know more about banks that do not use Chexsystems, you can learn more here.
Banks That Offer Second Chance Accounts
Another solution you can do is open an account with a bank that still uses Chexsystems but offers second chance banking. Second chance accounts are provided to people who have negative Chexsystem records. This type of service is offered for people who have had problems and negative tracking records that Chexsystem has identified. Also, second chance accounts are offered by reputable banks that have specific business areas or physical locations.
Although there are service limitations in a second chance account, what’s good about having one is that you can still have banking access to reputable and major banks. Also, this type of account is that there’s a possibility that banks will upgrade your second chance account, given you have shown them a good track record.
For example, consistently paying your fees on time or not committing any fraudulent actions. With that said, having a second chance account would probably be one of the ideal options you can avail yourself.
Get A Prepaid Debit Card
If you are open to more options, getting a prepaid debit card might offer you some help. Some entities provide prepaid debit cards, giving you the capability to transfer your money into the card. Because you have cash in your prepaid debit card, you can also use it to pay bills and pay for other things. With that said, availing a prepaid debit card is almost the same as having a checking bank account.
Make sure to familiarize the conditions and terms regarding the prepaid debit card’s function to ensure that you use it right and prevent tendencies of you being overcharged.
Secured Credit Cards May Help
Another option you can do is to get a secured credit card. Usually, you need an account from a physical bank to be provided with a secure credit card. But nowadays, there are many companies online that offer the same credit card without requiring an actual bank account. Usually, secured credit cards are like credit cards, but the difference is that the balance you have on the card is the amount of money you deposit in it.
Try Acquiring An Online Bank Account
Acquiring an internet-based bank account may also be one of the ideal options you can choose. There are a lot of online bank accounts which do not use Chexsystems in their online processes. It would be an excellent move to search for reputable online bank accounts which do not use Chexsystems.
Although having an online bank account might differ from actually having a real bank account, the good thing is that they differ a little with each other. Not to mention it’s easier to do this option.
Takeaway
Even though you have problems with Chexsystems, the good thing is that there are many options you can resort to, which offer the same services that traditional banks provide. Just make sure to handle your accounts better this time so that you will have more ideal banking opportunities in the future that could fit best with the nature of your business.
