How to Open a Checking Account With Previous Bad Checks
- 1). Identify banks that promote "checking accounts with no credit check." There is not a significant number of banks that offer this opportunity. However, there are some that do forgo credit checks. One example is Academy Bank, which Walmart partnered with to open banks in individual stores.
- 2). Wait five years after the last bad check or account left with an arrearage before applying for a checking account. Banks typically only go back five years in the checking application credit check process. After this period of time elapses you should have no problem opening a checking account.
- 3). Pay off previous bad checks and arrearages on any prior accounts. If you take this course make certain you get a letter of satisfaction that you present to the bank employee assisting you with your checking account application.
- 4). Open a savings account that the bank puts a hold on to secure a checking account. Keep in mind that you may have problems even opening a savings account if you have previous bad checks or a prior bank account with unpaid negative balance. Nonetheless, the bank may consider opening up a limited checking account that permits you the ability to have checks outstanding in an amount that does not exceed the balance in a frozen bank account.