When it comes to develop a banking relationship, a negative history can follow you, making it impossible to get a new checking or savings account. If you have ever gotten into debt with a bank, you may find yourself unable to find any banks that will accept your business. Second chance checking accounts are special programs that banks offer to customers who have had problems in the past.
Wells Fargo offers Opportunity Checking, a custom program for people who have had banking problems in the past. Wells Fargo’s Opportunity Checking allows you to open a new account with just a $50 deposit. Customers who sign up for Opportunity Checking also get free online banking and bill pay as well as a host of other services. In order to avoid paying a monthly maintenance fee, you simply have to maintain a minimum daily balance of $2,000 or enroll in direct deposit for a total of $750 a month, or make 10 or more debit purchases each month.
Bank of America
Bank of America offers a checking account program for people who have had Chexsystems entries in the past, but with a few conditions. Chexsystems is the nationwide registry of customers who owe money on old banking accounts, and this system is equivalent to a credit report for banking. Bank of America will open an account for you provided you deposit at least $100, maintain a minimum balance and sign up for direct deposit. After a set amount of positive banking activity, you can convert your account to a regular checking account.
Chase Bank offers second chance accounts in Michigan that will help people who have had problems with banks in the past. Chase Bank will open an account for you with a minimum deposit of $100 that must remain in the account at all times. With the second chance account, you will not be able to write checks or make deposits at the ATM. You will receive a debit card that you can use to make purchases, however, the amount of your purchase must be over and above the $100 balance. If you want to make a $20 purchase, for example, there must be at least $120 in the checking account. Chase Bank has branches across the state and will open an account for you in person.
PNC Bank offers the Foundation Checking account which gives new account holders access to all of the bank’s regular features. The PNC Foundation account allows you to open an account with a low opening balance and enjoy all of the features of a regular account. With this account you will get access to check writing privileges, a debit card and online banking. The bank also offers the PNC Virtual Wallet which helps you to manage your funds online, stick to a budget and set savings goals.
Capitol One has an excellent second chance checking program that mirrors that of its regular checking account program. The checking account allows you to write checks and use a debit card for bill pay and purchases. With the Capitol One checking account, you will have access to a full range of features that the bank offers. After a period of satisfactory use of the account, Capitol One will convert your account to a regular checking account with complete access and privileges.
There are Capitol One branches across Michigan that will open this account for you, or you can start the process online and visit a branch to get started.
Locate Even More Banks In The State Of Michigan
Overall, there are many second chance checking accounts for Chexsystems victims available to consumers in Michigan. Let our organization help you find one today. Our helpful staff along with our concerned viewers has created a comprehensive list of these financial institutions in Michigan that can be reviewed at http://answers.infoaviator.org/?qa=264/what-banks-offer-second-chance-checking-accounts-michigan&show=272#a272. Additionally, consumers can view our staff certified nationwide list of real banks offering second chance and fresh start checking account programs at http://infoaviator.org/finance/checking-accounts/2014/05/28/how-to-open-a-second-chance-checking/.
Managing Your Second Chance Checking Account in Michigan
When it comes to re-establishing a positive banking record, the key is to manage your account well. By maintaining your account, you will be able to convert your bank account to a regular checking or savings account eventually and enjoy a banking relationship while you pay off your banking debts and clear your Chexsystems history.
If your bank offers it, sign up for an overdraft line of credit. If you happen to make an accounting error with your account, this line of credit will cover the overage and help you to avoid bank fees.
InfoAviator Publishing is a organization determined to help the un-banked currently residing in the cities and townships of (but not limited to) Sterling Heights, Grand Rapids, Detroit, Warren, Livonia, Lansing, Ann Arbor, Dearborn, Flint, Clinton, Canton, Farmington Hills, Westland, Macomb, Troy, Southfield, Shelby, Kalamazoo, Wyoming, Waterford, Taylor, Rochester Hills, St. Clair Shores, West Bloomfield, Novi, Pontiac, Ypsilanti, Dearborn Heights, Battle Creek, Royal Oak, Saginaw, Georgetown, Roseville, Portage, East Lansing, Kentwood, Redford, Commerce, Chesterfield, Midland Bay, Saginaw, Bloomfield, Meridian, Muskegon, Orion, Lincoln Park, Holland, Grand Blanc, Independence, and Bay City in Michigan.