By Are you looking for online banks for bad credit? If you have bad credit, you may still be able to get a normal bank account. If you have been reported to the ChexSystems, this can be another story. Normally the banks do not look at your credit history, but they have a look at a report that is provided by a company called ChexSystems which reports in details about what you have done at the other financial institutions in the past till today. This report by ChexSystems mainly includes the details pertaining to the banks and credit unions. If you do not owe any banks or credit unions any money, you should be able to open a normal bank account without facing any hurdles. However, if you have already tried to open a normal account and have been declined, you will probably need an online checking account. The same goes if you have been reported to the ChexSystems, so you will probably need to open an online bank account.
To find the online banks for bad credit is not terribly hard, but it can also be misleading and confusing at times, but here I will tell you what you have to look for in this regard. A lot of prepaid credit cards will try to offer themselves as bank. So the first thing you should look for is if they will do direct deposits. Most of the prepaid credit card companies cannot do direct deposits. Most of the non- ChexSystems banks will make it a point to the list that they take direct deposits. You also want to make sure that the card you receive works like a debit card. You will also want to make sure they offer online bill pay facility. This is a service that will allow you to pay all your bills online. Not many people use checks anymore and the online bill pay has been replacing that part for some time. Almost all of the companies will take payment through bill pay.
Now you know that the basics of what to look for when you are searching for the online banks for bad credit. The next thing you will want to know about the non- ChexSystems checking account is the fees. Some have a monthly fee and some have higher fees when you use the debit card. I have found that the banks that charge a monthly fee tend to be a little cheaper in the long run. I use RushCard and I am on their monthly payment plan. They also have another plan where you can choose no monthly payments. I would use this if I was just paying my bills online. However, I use my debit card a lot and I am always going to the ATM, so the monthly plan saves me a great deal of money.
The last thing you want to look for in an online bank for bad credit is to make sure that it will let you sign up for free. You do not want to pay money just to find out that it is not the right bank for you. Most of the companies will let you sign up for free, so you can see the inside workings of the bank. Once you have signed up, you can login and browse the inside of their website. If you like everything, you can pick direct deposit or any other method you want to be able to fund your new online checking account. You can also consider like credit unions in Nevada for those listed in CheckSystems and proceed with then for your financial needs.
