subject: Having A Bad Credit Checking Account For Individuals With Poor Financial History [print this page] Getting your own checking account directly into the negative and subsequently not being able to pay it back is nothing a person should have to go through. With stacking fees from Non Sufficient Funds fees, it can be difficult to pay the cash back. If you are having problems getting a new checking account, you need to get a second chance checking account.
Whenever a bank offers you a new checking account such as this, they already know you have had some problems in the past with other banks. If you try to open an account with a bank that does not have this program, you will be denied a new checking account. The only thing they would let you open is a savings account, and that does not help that much.
When you have financial problems with other banks, they put your name on a list called chexsystems. It is a list that is used by all the major banks, and when you try to open a new account, they check it. It is somewhat similar to credit history, but it is not the same thing. Besides getting a no chexsystems checking account, getting a second chance checking account will be the fastest thing you can do to get a checking account.
You will get a second chance checking account, and sometimes banks will simply take away a couple capabilities to help make certain your bank account does not get into the negative again. Once you get a fresh start with a checking account, be sure that you watch it very closely. You want to manage your account well, because if it goes into the negative even once, they will mostly close your account.
So to make things easier and not go into the negative with your bank account, you need to monitor all charges and write them down. When you write a check, you make sure you keep a record of it. Some people do not cash checks for weeks, and sometimes it can be easy to forget you wrote a 500 dollar check and that person didn't cash it yet. Then you end up thinking you have an extra 500 dollars in your account and you buy a few things.
Next thing you know it, the person finally cashed your check and you now have 4 charges that put your account in the negative. That is 4 NSF fees. So with your second chance checking account, you need to make sure you keep an eagle eye on all charges. Not only will you build trust with your new bank, but you will get better at managing your money.
