What Is Second Chance Checking? Second Chance Banks in Alaska
Some Banks in Alaska offer a “Second Chance Checking Account” Program, which means the bank will open an account for you even if you’re on Chexsystems as long as any overdrawn bank accounts have been paid. Some banks have other names for these banking programs such as “Opportunity Checking” or “Fresh Start Checking”. To open a checking account through one of these special bank programs, you usually have to apply in person and, in many cases, the bank requires that you take a class on how to balance your checking account and avoid overdrawing your account.
The best checking accounts you can open in Alaska with no credit check, no opening deposit and no Chexsystems are: List of Second Chance Banks
- Discover Bank – Open a Discover Bank savings account online instantly and earn a rate 5x the National Savings Average with a low opening deposit and access to your cash anytime. The opening deposit is $0 but you have 30 days to make a deposit at a local branch or by setting up direct deposit. Discover Bank is currently offering a $50 bonus if you also open a checking account. You have to have either a Discover Savings account or credit card to open a Discover Bank checking account.
- BBVA Compass Bank – Open an online checking account with the new ClearConnect checking account. The BBVA Compass ClearConnect Checking Account is a free checking account and offers customers the chance to open an online checking account for only $25. Enjoy no monthly service charges, free online and mobile banking, bill pay and online statements. The ClearConnect Checking Account has no ATM fees at any BBVA Compass or Allpoint® ATM. You’ll also receive a BBVA Compass Visa® Debit Card you can personalize with you favorite photo. Chance Checking Alaska Banks
All of the banks on our list of “Best Second Chance Banks in Alaska” have short, online applications and most of them do not require an opening deposit as most banks require. So, you can open a checking account from several banks in Alaska online and get an instant account number to set up direct deposit. Or you can mail the opening deposit to the bank, or sometimes use a credit card or prepaid card. Second Chance Banks in Fairbanks Alaska
Banks in Alaska Offering Second Chance Checking
Of course, you can always open a checking account specifically made for second chance banking customers. One such second chance checking account is available from True North Federal Credit Union and open to all Alaska residents. You cannot apply online for this type of account, and there is a $10 monthly fee to keep the account open. But True North Federal Credit Union’s second chance checking account offers free online banking and bill pay and a free Visa check card upon approval.
ALASKA CHECKING ACCOUNTS
Still, only if you have the money available to pay off your old, overdrawn bank accounts, will banks specifically offering second chance checking let you open a bank account. Your Chexsystem record stays on file for five years unless the information Chexsystem’s has is inaccurate and you file a dispute. Even if you pay off your old bank account, you still have to make sure the bank sends a letter to Chexsystems requesting the removal of any negative information.
Applying for a Bank Account with Bad Credit
Bad Credit Banks with No Credit Check Checking Account
When you apply for a new bank account, some banks will also check your complete credit report and score. The credit check itself typically isn’t the reason you were denied a checking account. Banks tend to deny you a bank account, not because you have unpaid credit cards or a bad credit score, but because you bounced checks in the past or still have a negative balance with a previous checking account.
bad credit banks and banks with no credit check
To prevent terrorism and fraud, all banks are required by law to verify your identity in the form of a “soft pull” of your credit report. This means they only access your credit report to check that your name and address match up with your social security number. This is how the bank obtains the information that makes up the random identity confirmation questions during the process of applying for a checking account. A soft pull of your credit report won’t lower your credit score and doesn’t give the bank can’t see detailed information about late car payments or bills in collection.
No Chexsystems banks. How do I get a checking account if i am on chexsystems?
Banks requiring that your checking account is enrolled in overdraft protection in the form of a bank-issued line of credit, will require that you don’t have bad credit. The bank will conduct a “hard pull” of your credit report, meaning that the credit check itself will lower your credit score by 2 points. Our list of recommended Banks in Alaska do not use Chexsystems or check your credit history. Alaska banks that have a second chance bank account
Why You Need A Checking Account No Opening Deposit Checking Account in Alaska
Many employers today no longer bother issuing checks and require that you have direct deposit. This can be an embarrassing situation if you need a bank account but keep getting denied because of Chexsystems and don’t want to explain to your new employer that you bounced checks at your last bank and can’t get a checking account. Second Chance Banks in Fairbanks Alaska – Second Chance Banks in Alaska with free checking accounts and no opening deposit
Because Chexsystems works like a consumer credit reporting agency, if you try to cash a check, even at a popular retail location such as Walmart, they will also run your identity through a check system such as Telecheck or Chexsystems and refuse to cash your check. Also, without a checking account, you’re usually left with the option of paying a higher fee and cashing your check at a check cashing store or currency exchange, businesses that profit from your past mistakes; the greater the amount of your check, the higher the fee. second chance banks in alaska