Second Chance Checking Blog

The Ready Debit Prepaid Visa Card was created as an alternative for the 80 million under banked or un-banked Americans and is a perfect alternative to a checking account or high fee second chance checking account. The Ready Debit Visa Card was founded by former executives of Capital One specifically to serve the under banked Americans and offers some of the most flexible prepaid card terms available. One of the best features is the ability to instantly get an account and routing number after account set up. Check out the benefits of the Ready Debit Prepaid Visa Card below

• The ability for the user to obtain a routing number & account number instantly!
• Easy payroll direct deposit sign up!
• No over draft fees
• No bounced checks
• Direct deposit your paycheck or social security benefit checkFree online bill pay with monthly direct deposit
• Send checks or payments with online bill pay
• Withdraw cash at ATMs or get cash back with purchases
• No credit or ChexSystems checks

As you can see the benefits of the Ready Debit Prepaid Visa Card excellent and are better than comparable with a lot of the second chance checking accounts being offered. If you are tired of bounced checks, outrageous fees, and ready to have better control of your money, the Ready Debit Visa Card is your card. Apply Now

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Unfortunately due to our economy it appears that a new consumer service(?) is on the rise. There seems to be new ChexSystems Removal services going around where companies are offering (for a fee of course) to remove your negative information from ChexSystems. Now, I am not going to come right out and call these ChexSystems removal services a scam, but consumers should beware.

ChexSystems is one of the most unrelenting and unfriendly businesses when it comes to consumers. The only ways to have information removed from ChexSystems is either time (currently 5 years per reported occurance) and if the reporting bank requests to have the information removed. Also, keep in mind that the reporting bank request must come from Loss Prevention and the request will not be accepted if made by a local branch manager.

When the request is made, there are several factors that play in to the removal request. ChexSystems will look at the following to determine if removal if an option

• Severe abuse or fraud or suspicion there of
• Amount of closed accounts on your ChexSystems report
• Do you still have a relationship with the reporting bank
• Has the request come from the Loss Prevention team of the requesting bank

Once all of the steps above have been taken in to consideration, the information may then be removed.

So as you can see, having something removed from your ChexSystems report is very difficult and must come from the appropriate channels. Unless the company is going to work as intermediary between you and the bank, and unless they have access to and can convince the banks loss prevention department to remove the information; they are not going to be any more effective at removing negative information from your ChexSystems report than you will be.

If you do desire to have someone work on your behalf, make sure that you get all promised results in writing before your pay any money and that there is a written 100% money back guarantee.  If you would rather not deal with the headache, find a good bank offering a second chance checking account and stop worrying about ChexSystems. Good luck.

Bank of America has revealed how and why they use ChexSystems. In an interview with The Consumerist, a Bank of America VP spoke anonymously about how and why they use ChexSystems.

The story stems from Bank of America denying and basically banning an individual from doing business with the bank, but never giving the young man an explanation as to why. It appears that James has good credit and other than a reporting mistake from either ChexSystems or his credit report, the bank would have no reason to not do business with Jesse. Read more here.

Unfortunately, it looks like Jesse may have to find banks offering second chance checking accounts in Connecticut due to the arrogance and stupidity of Bank of America.

Stuck in ChexSystems or just want to know what they say about you? You are entitled to a FREE ChexSystems report every 12 months just as you are entitled to a free annual credit report every 12 months.

Under the (FACTA) Fair and Accurate Credit Transaction Act amendments to the (FCRA) federal Fair Credit Reporting Act, you are entitled to a free copy of your consumer report from ChexSystems once every 12 months. To get your free ChexSystems report, click here.

According to the FDIC, 25.6 Americans either do not have a bank account or have an account, but still choose to rely on alternative financial services. These alternative financial services can further hinder financial security due to the fees and other costs of alternative financial services. The high cost of alternative financial services makes it nearly impossible for the unbanked Americans to save or invest for their future.

If you are one of the millions of unbanked Americans, it is time to take control of your finances. Start by getting a checking account. If you are listed in ChexSystems, then there are banks in your area offering second chance checking accounts. Click here for a free directory of banks offering second chance checking. The next step is to get a savings account. HSBC Advance offers an online savings account that is linked to a checking account. These high interest savings accounts are an excellent deal for consumers. You get high interest, convenient online account access and you can get started for only $1. Check out HSBC!