If you have trouble applying for a bank account, knowing how to open a bank account with no credit check can be a big help. It will be a big challenge for you to get a bank account if you have credit issues. This is because most of the banks will run a credit check on your application in this down economy. Not a big deal! The following tips on how to open a bank account with no credit check should be helpful.
To open a bank account with no credit check, you will need:
- Social Security Number
- Driver's License
- Some cash on hand (minimum $25)
- Research the banks that offer "Second Chance Bank Account" product. Note that this product is designed for individuals who want to open a bank account with no credit check. Go to the banking section of the Yellow Pages. Pick up the phone and call all the banks to see if they have the "Second Chance Bank Account" product available. If they do, write down the bank names and all their key features. Since this product cannot be provided by many banks, you will have a better selection if you can try to get at least five banks on the list.
- Select the bank which has the best offer. Now, review the list of banks you have. Go over all their key features carefully. Make the selection of the bank which provides you the best offer. It is recommended to make an appointment with a banker for assistance with the bank account opening process.
- Visit the banking location. Confirm all the information with a banker. You want to be very clear with all the terms and restrictions regarding to opening a bank account with no credit check. At this point, you can ask for a bank account application form. Feel free to ask any additional questions if you need to.
- Fill out the bank account application form. You will need to provide all the basic information to the bank. Copy all the information from your driver license and social security card onto the application form. Your banker will need to make a copy of both of these forms of identification. Make sure that you have at least $25 to open the bank account. Depending on your bank, this amount may vary. Proofread your application. Sign and date the completed application. Submit the paperwork along with the cash to your banker.
As you can see, it's very easy to open a bank account with no credit check. Although having bad credit can give you trouble when applying for a bank account, the "Second Chance Bank Account" product can definitely save your life. You can finally enjoy the privilege of having a bank account.
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