People’s Cash Solutions

It often happens like the following scenario. Someone, for whatever reason, does a miscalculation on their checking account and the overdraft fees pile up. The person doesn’t pay back the overdrafts either because they think it’s no big deal, or because they just don’t have the money to. No matter which one of those situations happens to be true, the banks will not just eat up the loss without taking any action on their part. They will indeed write off those amounts as a loss, but the transactions will be reported to Chexsystems, and that person will have a lot of trouble if they try to open a new checking account in most banks.

Some people, after finding out about this, will try and get removed from Chexsystems’ database. That usually entails paying off the amounts that you owe the different banks, but you can’t directly ask to be removed. It’s the banks themselves that have to write and state that you’ve paid the debt. You can easily imagine that this is a process that will take some perseverance, and won’t be able to get solved in a couple of days. In the meantime, you want to be able to carry out your life in a manner that is as close as how it previously was.

To do that, you need to find a company that will offer you an account with pretty much all the conveniences you would get with a regular checking account, even if you are listed on Chexsystems. There are several companies that do this, and today we’re going to focus on Peoples Cash Solutions.

Peoples Cash Solutions offers checking accounts to people who have a negative record on Chexsystems and/or Telecheck. The account that they open for you is FDIC-insured (meaning that you’re protected up to $250,000). The only instance where you will be denied is if you have been reported for fraudulent activity. There is a large pool of people out there who need a second chance bank account. It’s not only because they need to make financial transactions, but also because getting such an account can be the first step towards re-establishing yourself as a good customer for banks.

Features of Peoples Cash Solutions Accounts

Debit Mastercard. A Debit MasterCard is tied to a cardholder’s bank account and can be used to make purchases or obtain cash at more than 25 million locations around the world, including more than 1 million ATMs. Purchases using debit MasterCard are authorized by signed receipt or the use of a PIN. In other words, you can make transactions at any ATM, as well as set up Direct Deposit on your account and have access to that money without having to go to a check cashing store and pay the associated fees. Your MasterCard debit card is covered by MasterCard Zero Liability(TM) for fraudulent use and your account is FDIC insured up to $250,000.

Personal Checkbook. The benefits of actually having a checking account are hard to summarize, because it’s the starting point of most financial transactions. Peoples Cash Solutions offers a checking account with check writing privileges, which means that you don’t have to carry cash and can use checks instead. You can pay your bills through the mail. You can also use your checking account for budgeting purposes, so you can clearly see where your money goes.

Online Bill Pay. Nowadays you can pay almost all your bills online. You won’t have access to online bill pay right then and there, but after just 30 consecutive days of maintaining an account with Peoples Cash Solutions, you will qualify for their Internet Banking solution. Once approved, you will be able to make and schedule payments just like the other online bill payment companies offer their customers.

Online Banking. No longer to you have to go to an ATM or look for a statement to check your available balance. Along with being able to pay your bills online, online banking also allows you to check your balances, so you always know how much money you have left in the bank. You can also transfer money between accounts with a few simple clicks. Other benefits include the ability to reorder checks online as well as talk live to a customer service representative, should you have questions regarding your account.

Online Money Transfers. If you send money to relatives on a regular basis, Peoples Cash Solutions offers a free alternative to fee-laden money transfer services. All you have to do is obtain a separate account or ATM card for the people you send money to. From that point on, you can easily transfer funds to these additional accounts for free.

Overdraft Protection. If you’re facing an emergency, instead of getting a payday loan, you can use this service as an alternative. If you are not enrolled in direct deposit with your employer, you may qualify for up to $300 of ODP. If you have a direct deposit tied to your account, you may qualify for up to $500 of ODP. Not everyone will qualify for this, and there are fees, as well as other terms and conditions associated with this service. This is something that you can address with a customer service representative for more details.

Second Chance Bank Accounts: More Information

Second chance bank accounts come in all flavors, depending on the financial institution that offers them. People whose names are listed with ChexSystems and/or Telecheck are usually the target market. Since they are often desperate for banks that do not use Chexsystems, they often tend not to look for lots of information so that they can make an informed decision.

That’s why, in addition to the information provided above, we want to give a little more to the people out there who have a bad credit history or who have had their accounts closed because of overdrafts and debt problems.

1. The best second chance account offers do not require a minimum account balance, nor do you have to submit to an interview. Since the second chance checking account is specifically designed for people with bad credit, it’s expected that you financial picture will be less-than-perfect.
2. The procedures are relatively simple and straightforward. You fill out the required application, submit ID, provide the funds to open the account, and you should be OK.
3. There are now an increasing number of financial institutions offering these types of accounts, making easier for people in tough situations. But that doesn’t mean that all these offers are good. Some are way better than others even though they charge less fees. In the end, it will all depend on how well you did your homework.

People’s Cash Solutions: Your Opportunity To Get A Second Chance Bank Account

People looking for a list of banks that do not use ChexSystems come from all walks of life. In most cases they have been in bad situations and they’ve had checks bounce. The banks that they held their accounts with decided to close those accounts and report the incidents to Chexsystems. So those financial problems that you’ve had in the past can potentially follow you for years. This is because ChexSystems is a company that maintains a database of all the “bad” banking clients. Since most banks do a ChexSystems check on all new bank applicants, if your name is in the system, you won’t be able to qualify for a new account.

This is what prompts most people to get online and start looking for “banks without Chexsystems“. They look because it’s common knowledge that only about 80% of the banks out there do business with ChexSystems. That leaves a big 20% of banks out there that are open to the possibility of opening a checking account for you even if you have a negative record. Depending on the bank, those accounts are called “fresh start checking accounts” or “second chance checking accounts” but they basically offer the same thing: you get to open a bank account even if you’ve had financial problems, or you have bad credit, or something similar.

You’ll find that there are lots and lots of places that promise to get you a list of banks that don’t use ChexSystems. The problem is that a lot of them are really not about to give you the exact information that you’re really looking for. But at first, let’s give this a little more thought.

ChexSystems makes its money by charging financial institutions to use its service. That means that the more banks use them, the more money they’ll make. So they’re pretty aggressive in terms of marketing their service to banks that don’t currently use them to verify new checking accounts. Conversely, some banks have realized that they lose business by simply turning down everyone with a negative ChexSystems record, and they don’t necessarily want to keep doing that. What that boils down to is that there’s a constant movement of banks signing up for ChexSystems’ service and others that are leaving it.

When you think of the number of banks that there are in the United States (close to 8,500), getting a list of banks that don’t use Chexsystems would be a colossal amount of work in the first place. And that’s only the beginning, because such a list would have to be maintained continuously in order to be accurate. That would necessitate a sizable staff and that list would probably be just too expensive to be attractive to anyone looking for a non ChexSystems bank.

So what’s left for you to do? Well there are companies that are well known for offering “second chance checking” products and services. Three of them come to mind, but there are many more.

People’s Cash Solutions: “Second Chance Checking Accounts”

People’s Cash Solutions refers to their product as a “fresh start at banking”. Here’s what their website has to say:

Have you ever been denied a checking or savings account due to past problems with ChexSystems and TeleCheck? The Peoples Cash Solutions program is the answer for you! Peoples Cash Solutions and Peoples Bank will open a real FDIC-insured checking account for you even if you have been reported to ChexSystems or TeleCheck in the past (except where fraudulent activity has been reported). We want to give you a chance to establish a banking relationship as the first step toward improving your credit record and to allow you to begin building and accumulating assets. Our Second Chance Checking program erases the inconvenience of not having a checking account and/or being forced to use fee-intensive alternatives.

Money Now Usa: “100% Approval, No Credit Checks Prepaid Debit Cards”

Money Now Usa flaunts their wide selection of prepaid debit cards with 100% guaranteed approval. You get to choose from a list of well-known companies that offer their debit cards with no credit checks and no Chexsystems verifications. There’s a small list of features and benefits next to each offering to help you decide which is best for you.

Ready Debit: “100% Approval Guaranteed Reloadable Prepaid Debit Cards”

Once again, I’ll let the company’s website do the talking:

100% Approval Guaranteed — Even if you’ve been turned away or rejected by banks you can still get a READYdebit card. We have no credit or Chexsystems checks to worry about. Our only requirement is that we can validate the information you provide to us when you open your account. We do this instantly online while your application is being completed to make the sign-up process fast and easy!

“Can I Get A List Of Banks That Don’t Use ChexSystems?”