Can You Still Get a Job as a Teller With Derogatory Credit?

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The hiring policies and procedures used to perform background checks vary from bank to bank. Many banks refuse to hire people to work as tellers if they have bad credit. However, banks are not required to check your credit report prior to hiring you, so if a bank does not check your credit report it cannot deny you a job based on your credit history.

Background Checks

Under state and federal laws, banks and other employers are legally allowed to conduct certain background checks on prospective employees and on existing employees who are seeking promotion. Employers can legally conduct criminal background checks, check your driving record and check your credit report. However, you must sign a form that gives a prospective employer the right to check your credit report. If you refuse to give your consent then the employer may reject your job application.

Risk

Your credit history may not have a direct impact on your ability to perform certain kinds of jobs. However, teller jobs involve handling large sums of money, and your credit report reflects your ability to handle your own accounts. A poor credit score could suggest that you struggle to handle money matters. Additionally, a low credit score could also suggest that you are having money problems, in which case banks might view it as a bad idea to let you have easy access to other people's money.

No Checks

Banks and credit unions have to pay a fee to check your credit report and in order to save money, banks sometimes opt not to order credit checks and instead just make sure that you have no criminal record. If a prospective employer does check your credit report and sees that you have poor credit, that employer could still decide to hire you. If you had a serious illness or similarly uncontrollable event that lead to a bankruptcy filing, a prospective employer may decide to overlook the bankruptcy and still hire you for a job. Banks do not have to reject your job application just because your have bad credit.

Considerations

A derogatory credit report could prevent a bank from hiring you as a teller, but if you are applying for higher-paying jobs you could come under even more scrutiny. Your credit report contains information on your debt management for the last seven years as well as bankruptcies that have occurred within the last 10 years. However, if you are applying for a job that pays more than $75,000 per year, your prospective employer can obtain information relating to bankruptcies that occurred more than 10 years ago and foreclosures and late payments that occurred more than seven years ago. Therefore, while a credit check may not prevent you getting a teller job, your bad credit could prevent you from being promoted further down the line.

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