How to Get a Checking Account After Bankruptcy

After bankruptcy you can open a checking account if you have the right information. A bankruptcy will not stop you from opening a checking account as long as you are not listed on ChexSystems. There are certain steps you will need to follow in order to get an account open. You can open your account in one day. The requirements will vary from bank to bank. Most banks will require a small opening deposit.

Personal Information

Go to a bank and give the representative your personal information such as name, address, Social Security number, date of birth and employment information. Always include your home phone number and work phone number. The representative will ask you some questions about the use of your checking account so he can match you with the appropriate checking account.

Chex Systems

Wait for the representative to verify whether or not you are on ChexSystems. This is a database of customers that have abused their checking account privileges in the past. If you are listed on ChexSystems you probably have some bank fees which were not paid in a timely manner. Other reasons for being listed on ChexSystems include fraud, excessive insufficient funds returned checks or abuse of previous checking account privileges.

Paid Fees

Call ChexSystems if you owe money to a bank and it listed you in the database. Pay any money owed, including fees, and bring your receipt in to the bank where you wish to open a checking account. You will remain in ChexSystem's database for five years. Some banks require you to wait the entire five years before opening an account and others only require you to pay the amount owed before opening an account. A small percentage of banks do not verify information with ChexSystems, which allows you to open a checking account even if you are listed in the ChexSystems database.

Opening Deposit

Give the bank representative the required deposit which should be between $50 and $100. If you open your account with a check they may place a hold on the check. The holding period will vary from bank to bank. Sign the necessary paperwork and make sure you order checks. The representative will probably give you copies of your paperwork and some starter checks to use until your personal checks arrive in the mail in approximately seven business days.

Contact ChexSystems

Contact ChexSystems by mail at the following Address:

ChexSystems
Attn: Consumer Relations
7805 Hudson Road, Suite 100
Woodbury, MN 55125

You can also contact ChexSystems by phone at [phone]. You will hear a recording that provides instructions on how to proceed.

References

• A Checking Account After Bankruptcy
• ChexSystems

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