Can't HAve A Bank Acct?
Hey Guys:
I have recently fallin into credit trouble. I had a great credit rating until about a year ago when I fell on really hard financial times(was in school, low paying job, high credit card debt). I am in the process of rebuilding my credit now but I went into Bank of America and they told me that I could not even have a checking or savings account at their bank.! She told me that I have to get my credit in order first!! Now, I have had two bank accounts before and NEVER had problems with my checking account and I left both banks in good standing. I thought this was all that mattered. Am I missing something? I should probably try a credit union, maybe Bank of America is really strict, but I have friends with worse credit than me with accounts there. I just moved and I REALLY need a bank account----any suggestions?:
Same thing happened to me. I could get a regular account, but not a business account. I went to a credit union and got everything I needed. Some of the larger banks may have different policies. Check around, but if you strike out with the traditional banks, go to the CU
Good Luck
Most folks who have trouble getting a bank account have it because of ChexSystems, which is a CRA that tracks bad checks, etc.
You may want to check out www.chexvictims.com ... it's possible you're in Chexsystems.
Some banks do pull credit ... others don't care if you're in Chexsystems as long as you use direct deposit, still others don't even look at Chexsystems. The CV website will help you find all that out.
There's no reason to stay stuck among the unbanked. Ideally you develop some sort of business relationship with all the major banks in your area. A credit card here, a business account there, a personal account somewhere else, a HELOC with a different bank, an auto loan with yet another bank ... that way you can truthfully represent yourself as an accountholder and, say, get a check you just got from someone drawn on that bank cashed without hassle, thumbprints, etc. ... it's great when you're not sure whether the check you just received will be good tomorrow, or will have payment stopped, etc.
You may have a point--I just ordered my Chexsystems report today--to check. But unless someone has been using some old checks of mine without my knowledge---Chexsystems should not be the issue. I'm also going to email a few credit unions in my area..we'll see.....
Thanks!
Find a little small bank that is not a chain. Check out First Bank of the South. I think they have a branch on Chamblee-Tucker. You shouldn't have a problem there.
Best of Luck