Many people living in Georgia remain unbanked because of certain charges related to unpaid non-sufficient funds or overdrafts from a past checking account that landed them a bad ChexSystems report. Unbanked refers to people that neither have a checking or savings account open and ChexSystems is the consumer reporting agency that financial institutions use to find out if a potential customer has had any problems with previous checking accounts in the last five years at other banking institutions.
Unfortunately, there are only a limited number of banks and credit unions willing to help the unbanked in Georgia with a past Chexsystems record. Many financial institutions believe that doing business with the unbanked is not profitable or they have concerns about being defrauded.
Banks and credit unions can offer families and individuals the opportunity to borrow, save, build a credit record and invest. Access to a checking or savings account and the financial services that they can provide is fundamental to economic self-sufficiency.
According to a (Federal Deposit Insurance Corporation (FDIC) survey that was taken in 2011, there are an average of 449,000 households in the state of Georgia that are unbanked. The FDIC is a a federally sponsored corporation that insures accounts in banks and other financial institutions in the United States.
If your looking for a bank or credit union in the state of Georgia that are offering programs such as fresh start or second chance checking accounts, then InfoAviator Publishing can help you locate them. Our staff along with our loyal viewers has created a list of these financial institutions that can be reviewed at http://answers.infoaviator.org/?qa=310/where-are-there-non-chex-systems-banks-in-georgia&show=310#q310. Additionally, consumers can view our staff certified authentic nationwide list of real banks offering fresh start and second chance checking account programs at http://infoaviator.org/finance/checking-accounts/2014/05/28/how-to-open-a-second-chance-checking/.
Many banking customers choose to opt into overdraft-protection programs that allows them to use their debit card for purchases even if they don’t have enough available funds in their checking account to cover the payment. Every overdraft can incur a fee up to $35. However, under the new banking regulations of 2010, banks must ask their customers to choose overdraft protection rather than to enroll them automatically. To avoid overdrafts that could jeopardize your new fresh start or second chance checking account and to save a bundle of money in the future from potential fees, let your bank or credit union know that you choose to opt out of overdraft protection. Please note that you can still be charged a fee if a overdraft happens from a outstanding check written, a automatic recurring debit, or a online payment. To avoid these other overdrafts, sign up for text or e-mail alerts to know when your checking account balance falls to a certain level, keep track of all outstanding checks you have written, automatic bill payments, debit card transactions, and direct deposits by balancing your checkbook regularly. Everyone makes mistakes, so you may also want to consider linking your checking and savings accounts for overdraft protection or applying for a overdraft line of credit.
InfoAviator Publishing is a organization determined to help the un-banked currently residing in the cities and townships of (but not limited to) Columbus, Rome, Griffin, Carrollton, Stockbridge, East Point, Savannah, Valdosta, Hinesville, Milton, Douglasville, Atlanta, Smyrna, LaGrange, Canton, Woodstock, Kennesaw, Dalton, Acworth, Augusta, Duluth, Newnan, Mariettam, Warner Robins, Peachtree City, Sandy Springs, Statesboro, Dunwoody, Johns Creek, Alpharetta, McDonough, Gainesville, Roswell, Albany, Lawrenceville, Macon, and Athens in the state Georgia.