Second Chance Bank Accounts In New York | NY Fresh Start Checking Accounts
Second Chance Bank Accounts In New York | NY Fresh Start Checking Accounts
If you’ve been reported to ChexSystems, then you already know how much of a hassle it is to find a bank that will open new bank accounts for you. Actually you might be just in the middle of that search, which is why you’ve landed on this page. Most people in this country have no idea what ChexSystems is, but as soon as you’re in trouble with them, you realize that they are pretty important. ChexSystems is a reporting agency that is used by the banks to screen applicants for new accounts. If your name is on their list, that means that you have had trouble with other banks in the past and as a result, they don’t want you as a client.
Most of the banks in the country use that database to guide their decisions; it’s estimated that about 80% of them do, although some say this estimate is probably closer to 90%. So if you’re looking for a non Chexsystems bank, you can understand that the odds are against you. But that doesn’t mean it’s impossible! As a matter of fact, you need to do something about this because once your information gets reported to them, your information stays there for the next five years (unless you’re a victim of identity theft or reach a deal with the bank[s] that reported you).
Here are your options:
- Non Chexsystems banks. As their name suggests, these are banks that either don’t use the database at all to screen new account applications, or use it but just as a guideline, leaving the possibility of opening you a bank account even though you’re on ChexSystems’ list. Regional banks are a more realistic target, as most of the major banks use ChexSystems. As you can imagine, this can become pretty hard, but it is still feasible. We have a (partial) list of New York banks that reportedly don’t use ChexSystems, but please understand that this is something we have no control over and that the banks are free to adjust their policies according to their business goals. Banks: Abacus Federal – Allied Irish Bank – Bank Of New Hampshire – Bank of New York – Community Bank – Cross County Federal Savings Bank – Great Eastern Bank – Homestead Savings – Tompkins County Trust Company. Credit Unions – Alternatives Federal Credit Union – Columbia-Barnard Federal Credit Union – First Entertainment Federal Credit Union – Ticonderoga Federal Credit Union
- Prepaid debit cards. This is an option that is almost guaranteed to land you a second chance bank account. But the catch is that it’s not really a “bank account”, it will be a prepaid debit card that will give you almost all the features that you would get if you were to open a regular debit card. This convenience, of course, comes at a price. Some prepaid debit cards saddle you with a lot of fees, while some will be very competitive in their offers. It will be up to you to do some comparison shopping before picking. In New York, the Excella prepaid debit card and the Western Union reloadable debit cards are very popular options.