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Fresh Start Checking Accounts Offers A Fresh Start To Rebuilding Your Financial Life

Fresh start checking accounts is an avenue to get a checking account, even if you have bad credit, or a record within the ChexSystems database. If you've been denied your checking account application before, this type of accounts offer another opportunity to get your application approved. For this reason, they are also called second chance checking or clean slate checking accounts because literally, they offer a second chance to start from a clean slate when it comes to being approved for a checking account.

In recent years, many banks and credit unions have started to offer fresh start checking. This is a good way of offering potential customers who may not qualify for their regular accounts a fresh start. After a year or so, most banks are also willing to review the fresh start account and provide an upgrade to a regular account where appropriate. At the same time that they are willing to offer potential customers a fresh start, it is also a great way for them to enroll more customers and expand their customer base. No doubt, some of them will turn out to be extremely reliable and stellar customers for the long term.



What Are Fresh Start Checking Accounts?

Fresh start checking accounts is the first step towards an eventual upgrade to a regular checking account. For anyone who is having trouble getting the checking account application approval, you will be glad to know the criteria of acceptance into these accounts is more lax. Most banks will deny customers who have a ChexSystems record a checking account. But with second chance checking, ChexSystems records are usually not a problem. Even if the bank does a check and see your name listed with some infractions, they are still likely to accept your application.

What Are The Banks That Offer A Fresh Start Checking Accounts Program?

In the United States, there are several banks that offer the fresh start checking banking system, each having their own ways of securing an account and giving you the chance for a fresh start.

For example, the Pittsburgh National Corporation Bank offers the fresh start checking banking system called a Foundation Checking Account. The bank assists the depositor by waiving the monthly service charges for the first year, making the depositor establish his credit standing within the year. The account comes with a checking card than can be used to make purchases and withdraw money from Automated Teller at participating ATMs. Eligible applicants are required to attend a two-hour crash course on the basics of this account system.

Other banks that offer a fresh start checking program is Woodbury Bank and Liberty Bank. They have branches in about spread across the East and MidWest. The fresh start checking account does not carry a minimum balance requirement, but depositors are expected to pay a monthly membership fee of around $10 a month. Their may also be additional fees to get a debit card.

In California, the Los Angeles Federal credit union offers such a second chance checking service as well. They charge a $10 - $15 monthly maintenance fee at the time of this article. The accounts comes with check writing privileges and an ATM card as well. People's Cash solutions is another bank that provides fresh start accounts. Their accounts feature check writing, online banking and access to an ATM network. The best part is that it is an online bank that accepts applications from across the county. There are also no monthly maintenance fees.

The Importance Of A Checking Account

A fresh start checking accounts makes it easier to manage finances, which helps to establish a good credit standing for its depositors. It also makes many transactions in life and matters of personal finances easier. For example, application for loans and other financial investments do often require access to a checking account. For someone who is burdened with a bad credit history and looking to turn things around, a second chance checking account be an important asset.

To get started, you can find lots of information with regards to fresh start checking accounts through the internet. Look through several reviews and pages to compare the features offered by different banks. There are many options available, so make sure to check out at least a few before deciding.

As an alternative to a conventional checking account, consider a prepaid Visa card account with no ChexSystems requirements. It works just like a checking account, allowing for direct deposit of paychecks and online billpay (one-time or recurring payments). You can deposit cash into the account from 135,000 retail locations nationwide. In addition, the card can be used anywhere Visa is accepted. Click to learn more: The Perfect Alternative to a Checking Account!


The perfect alternative to a checking account