North Dakota Banks with Second Chance Checking Accounts
Some North Dakota Banks specifically offer “Second Chance Checking Account” programs, which means they’ll open an account for you even if you’re on ChexSystems as long as you’ve already paid any money owed. 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 must typically apply in person, and in many cases, the bank requires you take a class on how to balance your checking account and avoid overdrawing your account. Second Chance Bank North Dakota
- 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 $500 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.
- Scottrade Bank – Open a checking account online with no opening deposit, no monthly or ATM fees, including most cash withdrawal fees charged by another bank. Free checks. Set up direct deposit online or make deposits at a local branch. Scottrade Bank has hundreds of branches nationwide. Second Chance Checking
The banks on Checking Help’s List of Second Chance Banks in North Dakota do not use ChexSystems or check your credit history. Most have short, online applications and do not require an opening deposit, as many other banks require. Consequently, you can open a checking account online and get an instant account number to set up direct deposit. Or you can mail in the opening deposit or, sometimes, use a credit card or prepaid card.
Of course, you can also apply for a new checking account specifically made for second chance banking customers. One such second chance checking account most North Dakota residents will find useful is the “Second Chance” checking account from Capital Credit Union. A Capital Credit Union Second Chance account does entail a $25 opening and set-up fee and $10 monthly service fees. But Second Chance account holders can access their funds with a free prepaid debit card, enjoy unlimited check writing and can attend free credit score enhancement sessions. Furthermore, Second Chance customers enjoy access to brick-and-mortar branches throughout North Dakota – including locations in Bismarck, Mandan, Hazen, New Salem and Fargo.
Applying for a Bank Account with Bad Credit
Still, banks requiring that your checking account is enrolled in overdraft protection, in the form of a bank-issued line of credit, will require 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 two points. Our list of recommended national and local second chance banks in North Dakota include banks that do not use ChexSystems or check your credit history.
Why You Need A Checking Account
Many employers today no longer bother issuing checks and, instead, require you have direct deposit. This can be an embarrassing situation if you need a bank account but keep getting denied because of ChexSystems; naturally, no one wants to explain to their new employer that they bounced checks at their last bank and can’t get a checking account.
Also, because ChexSystems works like a consumer credit reporting agency, if you try to cash a check, even at many popular retail locations, such as Wal-Mart, they will also run your identity through a check system such as Telecheck or ChexSystems and refuse to cash your check. 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 a check casher will charge, making it even more difficult to get your financial house in order.