After having tried and failed 2 or 3 times to get a checking account of your own, you have probably become very hesitant about making another attempt. Since nobody likes to get rejected for pretty much anything, being turned down for a new account is certainly not a lot of fun.
In fact, most people on the lookout for a new checking account but who are getting rejected when they apply for one have one thing in common: their names all show up in a data-sharing system called ChexSystems.
Bank managers and account approval representatives alike have direct access to ChexSystems. When these bank employees are reviewing a prospective customer’s application, they may immediately pull the plug on the new account application if that customer’s name appears in ChexSystems. End of story.
Regardless of the reason, you have been getting rejected for a new checking account, what you are really looking for at this point is an instant approval checking account. And, of course, you want to find a bank that will not reject your application, even if your name shows up in ChexSystems.
Here are 3 steps to getting your own instant approval checking account:
1. Do an online search and look for “second chance checking” banks:
A handful of banks in the marketplace – certainly less than 2% to 5% – advertise themselves as “second chance checking” banks. These banks make every new prospective customer a promise that the bank will never refer to ChexSystems when reviewing a new account application. Many of these banks have a strong online presence and will approve your application instantly online.
2. Put together a list for yourself of at least 3 banks that you would be interested in applying to:
You have some choices, so be sure to take your time and research at least 3 of these second chance checking banks. Make sure that they offer perks such as online banking, auto loans, overdraft protection, free checking – whatever features are most important to you.
3. Apply to your favorite bank for a new account:
Now that you have done a bit of research, it is time to go ahead and apply! Keep in mind that you may get instant approval from the first one you apply to. Still, it can make sense even then to go ahead and apply to one more bank, then do a final comparison of your options.
If you are looking for an instant approval checking account, be sure to take these 3 steps. You will find yourself with a checking account in no time.
Source by Robbie T. James