Are you on the list of ChexSystems? Chances are that if you are reading this, then you are on ChexSystems. It does not matter whether you over drafted your account or if you were just simply a victim of the ChexSystems, your life is now changed. You will more than likely need a second chance bank account. Once you are on the ChexSystems, it is almost impossible to get off the list. The worst thing about it is the fact that it can take years to get a dispute cleared up; you can only be listed on ChexSystems for up to five years. If you spend three years trying to dispute false information, you might as well have waited for it to get dropped. I personally think that this is one of their dirty tricks that they play in order to keep you in their system as long as possible. Not to mention, it costs money to view your ChexSystems record and it costs even more to dispute a false listing.
Let’s try to forget how aggravating ChexSystems is for a minute and let’s try to focus more on getting a second chance bank account which is easier way to deal with the is situation. I can honestly say that you absolutely need a bank account to manage your money and make payment for different purposes. It can be a real hard thing to try to go through life without having a checking account. Almost everything we do nowadays involves having a bank account one way or the other. When you are looking for a second chance bank account, you will more than likely have to find one online or you can go down to the local banks and apply. You can even ask them if they check ChexSystems before applying, but you still stand a risk of having your account shut down. Some banks do not check ChexSystems when you sign up for an account, but they will eventually check. I personally lost quite a bit of money when this happened to me. I opened a checking account and deposited my paycheck. A week later my account was closed after they ran a ChexSystems report on me. They then took the funds that I owed to another bank and transferred them over and this is why I do not recommend a local bank; it will better if you get an online account.
How is a second chance bank account different from a regular bank account?
There is not a real big difference. Both will let you make the direct deposit, and both will let you pay your bills online. However, a second chance checking account will not let you overdraft your account. This is actually a good thing though for the reason that it means that you will not be able to spend what you do not have in your account like a credit card. The only other difference I have seen is that a second chance checking accounts has a slightly higher transaction fee. The bank may charge you a dollar when taking funds out at the ATM, but this is a small price to pay for a checking account having been on the list of ChexSystems.
It does not really matter at all what your reason for wanting a second chance bank account is, you really need one if you do not have a normal bank account as you owe it to yourself to have a checking account. Today, there are many online resources where you can find the lists of banks and CU’s without ChexSystems verification, so that you can easily get a second chance checking account.