January 5th, 2012 
Admin 
Second hand banking is for people that can no longer obtain a standard checking account from their local bank due to a mismanaged account at a former financial institution (usually money is owed, that has not been paid) or fraud. The reason you are unable to get a new bank account is because your name is most likely listed on the database of Chexsystems, Telecheck, or Scan. Banks and other financial institutions report to you these companies (Chexsystems being the most likely) when you fail to rectify your account with them. Your name will appear on Chexsystems database for 5 years even if you have rectified the account of the bank that placed you on the Chexsystems list.
There is Hope
As bleak as this sounds there is hope. Some banks will forgive your past banking experienced and give you a second chance; these new bank accounts are called second chance checking accounts. These accounts vary but most give you all the convenience of a standard checking account such as a debit card, online bill pay, direct payroll deposit, physical checks and more. Some banks do charge a monthly service fee, but when you are left with no bank account at all it is well worth the fee. Click here for more information on second chance checking.
Online Second Chance Checking
There are 2nd chance checking accounts you’ll be able to apply for on-line and be accepted in a short time, most of these do carry a month-to-month service cost and are a bit limited (some corporations) however the process is simple and fast and you will have your individual checking account very soon.
Local Second Probability Banking
It is even attainable to discover a financial institution in your space that gives you a second probability, they are known as non Chexsystems banks. Some banks to not use Chexsystems to confirm new checking accounts, and a few banks (despite the fact that they use Chexsystems) are extra forgiving of your past. When you have one in all these banks near your home it’s probably the best option, it may even be value a little bit of a drive to find one. Phrase of warning though, you will most definitely have to sit down down for an interview with somebody from the bank to discuss your previous banking issues, and a new checking account will not be guaranteed.
Full Service Resolution
There is a service online that may do the hard work for you; they guarantee to search out you a financial institution that gives you full entry to all the features of a standard checking account, including bodily checks. There’s a one time fee for their service, however in case you are on the lookout for a full service account without the embarrassing interviews this may be for you.
