What Is Second Chance Checking?
Some Banks in Washington offer second chance checking accounts, which is different from banks that do not use Chexsystems. To open a checking account through a second chance banking program you typically have to apply in person, pay a monthly fee, and in many cases, in order to qualify you might have to pay off any previous, overdrawn bank accounts.
Alternatively, you can open a new bank account online with national banks that do not check ChexSystems, with no credit check & no opening deposit immediately required:
- 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.
- 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.List of banks in Washington with second chance checking accounts online
- 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 and in Washington, including Seattle, Auburn, Bellevue, Renton, Silverdale, Bellingham, Tacoma, Spokane, Vancouver, Issaquah, Lynnwood, Redmond, and Olympia, WA.
The banks on our list of “Best Second Chance Banks in Washington” 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 Washington 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 Washington
HomeStreet Bank also offers Washington residents a second chance “BankOn Program Checking” account that requires no minimum balance and entails no monthly service charges. This type of HomeStreet checking account also gives account holders access to overt 20,000 ATM locations, as well as in-person access to dozens of branches in Seattle – including Olympia and Dowtown – Spokane and Tacoma. Second Chance Banking Washington
No Chexsystems banks. How do I get a checking account if i am on chexsystems?
Yet, if you don’t have the money to pay off your old, overdrawn bank accounts, even banks specifically offering second chance checking might not 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
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.
Washington banks that have a second chance bank account
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 Washington do not use Chexsystems or check your credit history.
Why You Need A Checking Account
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 Washington with free checking accounts
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. 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 Washington. Washington Checking Account online no credit check Banks in Washington Offering Second Chance Checking. Second Chance Banking in Washington. Seattle banks. Washington Banks No Chexsystems. Banks in Washington with free Online Checking Accounts. Banks No Chexsystems. Second Chance Banks in Seattle. Banks no chexsystems Washington Banks No Chexsystems. Second Chance Bank Accounts in Washington. Washington Checking Account no chexsystems checking account Washington Banks Second Chance Banking in Washington Second Chance Banks in Washington with a free Second Chance Checking account Seattle checking account no credit check Washington CHECKING ACCOUNTS Washington Checking Account no chexsystems checking acount Washington Bankbanks in Sioux Falls checking account no credit check Bad Credit Banks with No Credit Check Checking Account I need a checking account for direct deposit