Date: 2012.02.21 | Category: 2nd Chance Checking | Tags:

What’s Second Chance Banking Account?

As you know, second chance banking is really a new service offered by some banks or financial institutes. So if you can not apply successfully for a standard account of bank, you may choose such kind of services. There are also other reasons that you can’t get a bank account because you have been on the list of Chexsystem. No matter what reasons you have, there are really some other good options for you, that is second chance checking!

In general, the application process for second chance checking is very easy and simple. The banks may just require that you are a US citizen which can be proved. The process may take several minutes, and it can be approved just after your filling out the application table. And your checks and credit card will come in the mail in a week.

There is no any credit checks required for a new second chance account. They know that you may have financial problems before, but there is no sense in dragging this process along still any further! In fact, once you apply, you can get approved instantly! It sounds so great! Is it?

Learn More About Second Chance Banking Accounts

You have to know that there are some special fees which may be related with your second chance accounts. Each financial institution may have different terms, and the most common fees are monthly fee, direct deposit fee, withdrawals fee and overdrafts fee. Although these fees are small which can help you to save a lot of money while comparing it with cashing checks.

This kind of account is also named prepaid credit cards. Of course you may know some about credit card, obviously “prepaid” is such a poor name to describe the account. In fact, the prepaid credit card can used as a debit card which work along with a checking account. The both terms are just thrown around a bit to describe the same account, so don’t be confused with the two different names. There are also some prepaid credit cards which can not offer any checks. So you should be careful to read all the terms while you are signing up.

So if you fail to get a common checking account, you can use a second chance banking account as an alternative in just several minutes. Some of them may offer very low fees and you can get approved easily!

1 responses to “How About Second Chance Banking Accounts?”

  1. Pablo at 2012/03/19 18:59 says:

    OK. I’m wondering how to get a new bank account.

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