Help! I cannot get a bank account! Options

[berlyb33]

I don't know what to do. I've been reported to Chex Systems by Bank of America because someone wrote me a bad check. I've talked to several people and they will not help me. I do not owe them any money, but they closed out my account.
I am also on Chex Systems by Wamu - I owe them money, but I'm currently working w/them to pay it off.

I cannot seem to get a bank account anywhere now that BofA closed my account. I need a bank account - I cannot live w/out one.

TCF opened my account, let me fund it, sent me checks, and the closed it. Fifth Third approved me, and when I went into the branch to fund it, I was denied. National City denied me. Charter One denied me. Chase denied me.

Would a credit union approve me? I'm currently looking into those.

I applied for an online payment account through HSBC and I was apparantely approved, I just need to mail a check in...but I don't really get how this account works. I won't get checks, so how will I pay bills? Also, how do I make deposits?
They won't close my account after it's opened will they?

Any suggestions/advice?

[Googie]

[Millionairess2]

When was your BOFA account closed? and WAMU??? If they are recent, try a credit union that uses Telecheck, like Compass Bank. Usually Wal-mart has banks inside their stores that offer "second chance" banking.

What city and state are you located?

Maybe others can chime in to help.

[mca]

applying at many different places and being denied can actually hurt you more. Stop applying because this may cause a fraud alert on your report which can hurt you even more. HSBC is no longer a good option... they will open an account but will more than likely close it at a later time.

Options really depend on where you live as to what is best for you. Where exactly are you?

[persevering]

I don't know what to do. I've been reported to Chex Systems by Bank of America because someone wrote me a bad check. I've talked to several people and they will not help me. I do not owe them any money, but they closed out my account.

I'm very sorry this happened to you! This is the first time that I've heard that the customer can be reported to Chexsystems for someone else's bad check

[mca]

yes actually it happens all the time. It is most common for those with business accounts who accept personal checks all the time

[persevering]

yes actually it happens all the time. It is most common for those with business accounts who accept personal checks all the time

Since even friends and relatives potentially can be the ones that could give you a bad check, then when I go to deposit the check is there something that I as the customer can do to lessen the risk of the bank deciding to penalize me by reporting me to Checks Systems ?

Something like .. depositing the check instead of cashing it ? depositing it and then waiting x-number of days before withdrawing funds from my checking account ? going with a smaller bank or CU instead of a big bank ? etc.

This post has been edited by persevering: Nov 30 2008, 02:09 AM

[mca]

Not really... smaller banks are generally quicker to close and report to chexsystems. There are some banks that will allow it to happen a few times but anymore that is rare. And from what I can tell, no, it does not make a difference whether you cash it or deposit it and wait for it to clear.

The only for sure way to avoid this is to take the check to the bank it is written on and cash it there.

[BubbaG]

It depends on your specific goal in getting a checking account. Here is what I did, which has lasted me three years while the account has lingered on Chex:

Walk in to a Walmart and purchase one of their VISA money cards for $8.94. Load it with some cash, and thirty seconds later you will have a working VISA debit card. When you receive your card with your name on it a few days later, log online and register the personalized card. Find the menu which says DIRECT DEPOSIT and get your ABA Routing number and checking account number, use this for any inbound paychecks or transfers. For traditional physical checks this does not work, but you use your VISA card wherever you can use any other VISA card.

[abussart]

It depends on your specific goal in getting a checking account. Here is what I did, which has lasted me three years while the account has lingered on Chex:

Walk in to a Walmart and purchase one of their VISA money cards for $8.94. Load it with some cash, and thirty seconds later you will have a working VISA debit card. When you receive your card with your name on it a few days later, log online and register the personalized card. Find the menu which says DIRECT DEPOSIT and get your ABA Routing number and checking account number, use this for any inbound paychecks or transfers. For traditional physical checks this does not work, but you use your VISA card wherever you can use any other VISA card.

So you can make online payments with the routing number and account number. If so, that is great because my friend desperately needs an account and can not get approved anywhere!

[persevering]

It depends on your specific goal in getting a checking account. Here is what I did, which has lasted me three years while the account has lingered on Chex:

Walk in to a Walmart and purchase one of their VISA money cards for $8.94. Load it with some cash, and thirty seconds later you will have a working VISA debit card. When you receive your card with your name on it a few days later, log online and register the personalized card. Find the menu which says DIRECT DEPOSIT and get your ABA Routing number and checking account number, use this for any inbound paychecks or transfers. For traditional physical checks this does not work, but you use your VISA card wherever you can use any other VISA card.

So you can make online payments with the routing number and account number. If so, that is great because my friend desperately needs an account and can not get approved anywhere!

I had no idea this was possible. I might have some rough times coming up later this year which might result in me being without a checking account. So I've been starting to take a look at what my options are for cashing payroll checks, paying bills, and paying credit card bills without a checking account.

What you described sounds like what would work well for me, but I was wondering .. I've read that these days quite a few of the prepaid and reloadable debit cards require you to submit your social security number to the company handling that particular card. But I've also read of a few visa gift cards that can be purchased in amounts up to $ 500 that don't require you to give your social security number to anyone. For this latter card where you don't have to register your s.s. #, will your method still work ?

This post has been edited by persevering: Jan 17 2009, 01:27 AM

[mca]

There are banks that will approve ANYONE ... TAB and People's Bank are 2 of them right now that do not deny anyone.

[abussart]

It depends on your specific goal in getting a checking account. Here is what I did, which has lasted me three years while the account has lingered on Chex:

Walk in to a Walmart and purchase one of their VISA money cards for $8.94. Load it with some cash, and thirty seconds later you will have a working VISA debit card. When you receive your card with your name on it a few days later, log online and register the personalized card. Find the menu which says DIRECT DEPOSIT and get your ABA Routing number and checking account number, use this for any inbound paychecks or transfers. For traditional physical checks this does not work, but you use your VISA card wherever you can use any other VISA card.

So you can make online payments with the routing number and account number. If so, that is great because my friend desperately needs an account and can not get approved anywhere!

I had no idea this was possible. I might have some rough times coming up later this year which might result in me being without a checking account. So I've been starting to take a look at what my options are for cashing payroll checks, paying bills, and paying credit card bills without a checking account.

What you described sounds like what would work well for me, but I was wondering .. I've read that these days quite a few of the prepaid and reloadable debit cards require you to submit your social security number to the company handling that particular card. But I've also read of a few visa gift cards that can be purchased in amounts up to $ 500 that don't require you to give your social security number to anyone. For this latter card where you don't have to register your s.s. #, will your method still work ?

Good question. Could be great for someone who has judgements but needs a way to pay bills!

[YungAndNew]

can you post a link to peoples bank that approves anyone a checking account? it seems to be a few peoples banks listed in googles.

[mca]

Sure and also please note that the earlier post mentioned HSBC payment account. Most are approved but later are also closed. Defnitely another one not to trust.

People's Cash Solutions



http://www.peoplescashsolutions.com


It has been reported that they use chexsystems but no one is turned down and you can get an account here regardless of where you live .

Have you ever been denied a checking account before because of past problems with ChexSystems or TeleCheck? The Peoples Cash Solutions program is the answer for you, and it's FREE! We want to give you a chance to establish a banking relationship as the first step toward improving your credit record and to allow you to begin building and accumulating assets.


I asked if they offer Business checking and here was the reply that I got from them. So it might be worth checking into if you are looking for a business checking

Thank you for your interest in Peoples Cash Solutions!!

It would depend on how you wanted to use the account for business (?)
There are different types of information required to setup a business account with most other banks & Peoples Bank. The second chance checking account is a basic/regular checking account. If you would like more information on business accounts at Peoples Bank please contact them toll free at 1-800-454-5688.

We hope this helps!!

Thanks,
PCS

-this application must be mailed in ONLY, it can not be faxed

if you email me I can send you the application
mca1895@wikianswers.com

[YungAndNew]

thanks soo much mca you rock.....:-)

[BubbaG]

What you described sounds like what would work well for me, but I was wondering .. I've read that these days quite a few of the prepaid and reloadable debit cards require you to submit your social security number to the company handling that particular card. But I've also read of a few visa gift cards that can be purchased in amounts up to $ 500 that don't require you to give your social security number to anyone. For this latter card where you don't have to register your s.s. #, will your method still work ?

Sorry, I cannot help with all the other cards. My direct personal experience is with Walmartmoneycard.com, a pre paid VISA which can be purchased at any Walmart and used for inbound direct deposit and outbound payments as VISA and (I believe) other payment methods for utilities. When I have signed up for the pre paid VISA they asked me for my SSN, and limits are far higher than $500. I think I have had as much as $3,000 in one of their pre paid VISA cards, even though they technically limit you to $2,500--but with direct deposit of a paycheck, the limits don't seem to be in effect.

[hypnotik]

::sorry, wrong thread::

This post has been edited by hypnotik: Feb 27 2009, 09:18 AM