Checking accounts without credit checks?

What do you mean they won't let you open one?
There are banks online that only pull SI's.

Woofer

 

citi bank opened an account for me over the net and there is not a citi bank in my state. The account is free as long as you have direct deposit tied to it and at the time had a 5% interest rate attached to the savings and a $50 dollar bonus for opening the account. Ever bank is another online bank, you can get priority club points (hotel Points) if you join with them and do it over the net http://www.everbank.com. ING Direct and HSBC direct two other banks you can set up accounts with over the net both have high interest earning accounts 3% with no minimum balance, ING has checking and savings and has a ton of areas you can use your ATM or DEBIT card through deals with supermarkets and pharmacies. I am not sure if these companies run a credit check. I would say Citi or ING direct are two good companies for E banking from experience, ING will give you free ATM's however.

 

Banks will always have to pull an inquiry with one of the CRAs ... they have rules to follow called "Know Your Customer" ... stricter since 9/11 ... they're designed to keep fraudulent identities from being used to facilitate money laundering.

 

ING Direct (and maybe the other internet banks) have to be funded from another account. As far as I know, you can't send them a deposit. You deposit it in your local bank and then transfer it.

At least that's how it was when I checked into it.

Is it the CRA, or is it because of Chexsystems that you can't open an account?

 

Good Point hedwig, ING direct added checking so this is not the case for them any more. It was at one point. However that is how HSBC Direct works, unless you have an account with HSBC Bank which is mostly located in the north east.

 

If its chexsystem, you can look around for banks that will still allow you to open an all electronic account. You get a debit card, and online bill - paying ability. I'll let you do your own search. Most of these require a direct deposit.

In addition, you can opt for one of the growing number of debit cards out there (Netspend, Western Union, etc.) There are many! Most of these allow direct deposit and bill-paying. You just need a routing number and a account number, generally different than the card number. Some are very expensive, and others can cost as little as a flat rate of $10 per month. Some allow you to load $2500 and others allow you to load $10K +.

Looking through many of the debit cards currently out in the market, I noticed that almost all of them say "This is not a Bank account." You even agree that you understand all of this and have read the details. Interesting, since many of them are also FDIC insured. If a holder of such an account is asked if they have a bank account, can they reply, "Nope?"

But, I digress. Keep calling around. There are all electronic accounts that allow folks with problems to open accounts. The monthly fees can be high, but since it is all electronic, it is nearly impossible to overdraw an account. Banks offering these gain a higher monthly fee, but they do not put themselves in a situation where you can overdraw the account.

 

If you have any branches near you, try US Bank. They have a program called "2nd Chance" allowing folks who are in/on Chexsystems to open checking/savings accounts

 

Brokerage houses might be on other alternative, E Trade is pretty good. I actually thought about opening an account with them 3% on savings and checkings. There are a ton of brokerage firms out there like Schwabb that you can try out that i don't think use Check Systems. Good Look Bro

 

Brokerage firms do have good deals. Some of them might run a credit check if you request a debit card. They probably all check credit is you are attempting to open an account to trade on margin.

 

Checking accounts without credit checks

I have lost my FL home to foreclosure and also had to file a bankruptcy in the last 2 years. I am now trying to get a fresh start & find employment. I am trying to open a new checking account & have 3 checks to deposit. I am having trouble, however, as the banks are doing credit checks & won't let me open an account. Has the whole world gone insane?????

Can you suggest any banks where I can open a checking account without a credit check? Thank you.

 

hsbc only online accounts

hsbc has a savings account online but i think you could open a checking account too, it's all purely online.

 

Try your local credit union. Go in and talk to them, be honest about what happened.

 

If any one open account any bank then if any problem occur then contact the bank.

 

They're not able to open an account at any bank because they have a problem with a reporting agency, probably Telecheck.

 

Opening an Account

If you are having trouble opening an account then you most likely are in Chexsystems and/or Early Warning System.

You can order a report from both of them. One gets sent in the mail, the other you can access through email.

Once you get the report, you will see if any bank is posting delinquencies about you and all recent bank inquiries.

Telecheck issues pertain to writing a bad check. You can have a bank account and be denied by a grocery store. This is a separate issue.

If you want to get this all resolved, it is best to start ordering your reports. Trying to find ways around it will cost your more time and money in the long run.

AMG Consulting Group Inc.