Tag Archives: bank accounts

What Are You Looking For In A Second Chance Bank Account?

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Not being able to get a bank account is going to drive you nuts. First off, you’re stuck carrying around cash around everywhere, which has its obvious risks, and you have to pay insane check cashing fees. The good news is that second chance banking is going to help you get out of this mess. In this article I want to show you how to find a good one that will solve your problems.

The best place to get an account is with a normal bank. There are lot of them that offer second chance accounts, but it’ll take a bit of work to find the one around you. If you live in the West Coast or Southwest, check into Compass Bank. They have a checking account designed specifically for those who’ve had trouble in the past. If you live anywhere else, call up all of the small, local banks in your area. They love to get customers from the bigger banks, and may have looser requirements than a bigger bank will.

The next move is to look at companies that specialize in second chance bank accounts. These are companies like Rush Card, Vision Premiere, and dozens of others. Getting these accounts is very easy, and they are not checking credit, Chexsystem, or even income. Most of the account features that you would get from a big bank are present in these accounts as well.

What’s really great about accounts like this is how much cheaper they are than check cashing. You’re going to keep a hell of a lot more of your paycheck just by using a bank account. Be sure to understand the fee structure before applying, which isn’t too tough since it’s normally spelled out in plain English.

After going through these steps you’re going to have a few different choices. Making a decision is really based on whether or not you feel comfortable working with the company for years to come. It will be a while before you’re cleared from Chexsystem, so make sure that the one that you apply with is the best for you. These accounts are going to be approved instantly, so once you submit the form you have an account!

Current Accounts – Are You Using The Online Banking Facilities

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It’s true that many high street banks tend to offer rubbish current accounts to use and we don’t seem to mind. Although you can shop around and get an online banking current account that may offer a better rate of interest and service. We all look around for a better car insurance policy or when we are remortgaging. So why do we not look around for a better bank that offers a good current account? We all tend to always stay with the same bank.

If you where to switch your current account to another provider like an online bank account you could save around £80. Some of the accounts pay so little in interest to you, a measly 0.1% interest on some accounts.

So how can you get more out of a current account?

Always shop around for a higher interest rate and look out for overdraft facilities and bank charges. Check to see what they charge on overdraft charges, because they don’t care if you are in the red. Check the fees on cheques and standing order bounces.

When traveling abroad some banks will charge you a fee for foreign exchange and could cost you up to 3% of your purchase. Withdrawing money from an ATM machine can cost you up to £2.50 for each transaction.

Some current account include extra benefits such as travel insurance, breakdown cover, discounted rates off hotels, and vouchers. Benefits package accounts will usually require a monthly payment; some cost around £12 per month.