Bad Credit or Checking Account History?
Get a Second-Chance Checking Here!
If you have bad or limited credit, and/or have derogatory information listed on any bank account-related consumer-reporting agencies (such as ChexSystems or Telecheck), you can still get a second-chance checking account. AccountNow, Inc., through parent company MetaBank (of Sioux Falls, SD), offers this type of account specifically designed for you in mind. In order to sign up, visit their website at AccountNow.com; there, one can educate himself/herself on proper checking account-handling procedures, on banking in general, and on the benefits of using a bank account.
Some important facts about this account are: there is no credit check, no ChexSystems verification, no overdraft fees, no bounced checks, and no minimum balance requirement; most of the aforementioned are requirements that come standard with many banks, and these very requirements are what steer away this unique market segment of banking consumers. Having the privilege of using this account does have its costs, though; the terms and conditions state that one must have direct deposit in order to waive certain fees (such as a $9.95 card-activation fee, $0.50 automated telephone system inquiries, and $2 customer service calls in excess of one per month). Regardless of the presence of direct deposit, other fees apply to the account as well, such as a $9.95 monthly maintenance fee, a $5 ACH transaction fee (per item), and a $15.95 fee for account closure.
Overall, if you are looking for a useful account to fill the void of not having a checking account at most of the stringent institutions out there, getting this special MetaBank account will serve as a haven for the bad-credit or damaged checking history consumer. It is very difficult - if not almost impossible - to get a checking or savings account at a traditional bank if your banking or credit histories are blemished, but a good history can be rebuilt with good handling and care of this account.
Very few instructions and prerequisites to obtaining this account exist; the company boasts 100% applicant approval (given the passing of required USA PATRIOT Act background information), as applicants need only their names, addresses, dates of birth, telephone numbers, e-mail addresses, and tax identification numbers in order to be approved. Additionally, the funds on deposit are 100% FDIC-insured (up to the legal limits, currently at up to $250,000 per account-ownership type), and the bank is a member of the Better Business Bureau (BBB).
Another excellent feature of this account is its ability to help consumers build their credit histories by signing up for the Credit Builder program and electing to have online bill pay payments reported to PRBC (formerly Pay Rent, Build Credit, Inc.). PRBC is an alternative consumer reporting agency that allows users to self-enroll and report the timely payments of such nontraditional, non-debt credit bureau items as rent, insurance, telephone, cable & utility bills, among others.