How to Get a Second Chance Checking Account Online

Second chance checking accounts exist for those who have credit problems. Typically, people who seek second chance checking accounts have been listed in databases like ChexSystems (a network where financial institutions report mishandled savings and checking accounts) that make it difficult to open a regular checking account. Luckily, second chance checking accounts give customers a second chance to prove themselves to credit bureaus and financial institutions.

Difficulty: Moderately Easy

Instructions

1. Visit the websites of financial institutions. Bank and credit union websites may have information regarding offers for second chance checking accounts. In addition, each financial institution may follow its own rules about opening second chance checking accounts. Some may even allow you to open regular checking accounts with past credit problems if you meet certain criteria.

2. Compare the features of second chance checking accounts. These types of accounts offer many of the same features that regular checking accounts do, including online bill pay, personal checks, check tracking, ATM withdrawals, direct deposits and online banking. However, some financial institutions may offer extra, free and beneficial services aimed at those with past credit problems. Look for second chance checking accounts that offer financial advice and customer service, as these benefits show that the financial institution is interested in helping its customers get back on track.

3. Know what restrictions you’re in for. Financial institutions commonly place at least one restriction on their second chance checking accounts. The restriction can range from a bar on personal checks or an ATM card. Make sure the restriction is something you can live with.

4. Take deposits and monthly costs into consideration. Some second chance checking accounts require a substantial deposit before an account is set up. Financial institutions have also been known to charge monthly fees to use the account. If a second chance checking account requires any of these fees, research the terms and conditions of your account for promises of refunds or fee waivers once you have established yourself as a good customer.

5. Decide on a financial institution to start a second chance checking account with. Sign up for a second chance checking account using the financial institution’s website.

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[xenomax]

on 10/26/2009 SCREW BANKS. They've been screwing US for years. Get a GreenDot card (www.greendotonline.com) and pay your bills that way.

Wells Fargo dinged my account up to over $1000 in service fees in less than 6 months. If you have $5 in your checking account and try to use your debit card for $5.01, they'll GLADLY approve the charge...and screw you out of $35 for the pleasure of it.

If you have $5.00 in your GreenDot account and try to make the same $5.01 purchase, they'll DECLINE IT without ANY service charge.

Don't give another DIME to banks. I've been without a bank account for over 2 years and don't regret it for a second.

[mizzshady]

on 9/24/2009 yep I need this for sure.. 5*