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If you have ever left a bank or CU with an overdrawn account, basically owing the institution any money (even just one overdraft fee) you are not likely to be able to open an account anywhere till that is cleared up. It shows up via ChekSystems at just about every financial institution in the nation.
That is more likely the reason for a denial rather than bad credit.
I don't think I have done that, but I ordered a Cheksystems report to see whats going on. Thanks!
I have decently bad credit (working on it!!!) but I open new checking accounts all the time and don't have any trouble. I chase bank account bonuses since I'm not in a position to chase credit card bonuses.
I've never had an issue with a bank account though, so....see what the Cheksystems report says. Also, did they give you a reason for denial?
When I moved I didn't want to give up my CU checking account. I still use it for my direct deposits. Depositing checks, and cash for that matter, was a real pain but I was at least able to find a shared service center within a half hour drive of my house. https://co-opcreditunions.org/locator/?loctype=AS
But then my CU came out with a phone app and now all I have to do is take a picture of the check with my phone and it instantly deposits to my account. Very quick and easy.
Hi, I have recently moved to a new state/city and I need to open a checking account, I prefer to open one with a credit union instead of a bank. I have never written bad checks or anything like that, its that my credit score is bad. I just applied for a checking account with a local credit union today and my application was denied. I don't know what to do. I do have a checking account now, but its in the city I just moved from and I'm not able to put any money in it since I moved a couple of hours away. Please help! Thanks.
You might ask at the supermarket if you can pay by check and get some cash back. I think this can also be done using a credit card. This might help the cash problem until you find a local bank.
Credit unions are generally more willing than banks to open accounts for people with credit issues. The big red flag is getting blacklisted by ChexSystems if you have an unpaid obligation to a financial institution, but even that drops off after five years so time will cure that.
Most credit unions are part of a nationwide network (Co-Op Network) which allows members to use each other's ATMs without being charged by the host CU. (You can still be charged by your own CU if they charge you a fee; my CU allows three ATM withdrawals per month before charging a fee.
Thanks everyone! So I was approved for a checking account with a local credit union that doesnt check credit scores.
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