Possible to open an account without a credit check?
Question by tom t: Possible to open an account without a credit check?
I have a debt that i’m not inclined to pay and in the meantime i want to open a bank account. If i do that though, they normally run a credit check which could trigger the interest of the party to whom i owe money.
I don’t want any kind of credit or overdraft now, just a place to put my wages. Is there anywhere i can do that without arousing the interest of my creditors?
Best answer:
Answer by Cica
Sorry but no. Most banks require credit checks to open a new account. I suggest speaking with a credit union. I had bad credit also but with them I was still able to open an account. They can also help you clean up your credit at your own pace.
Best wishes
What do you think? Answer below!
Try going with a prepaid card account. It seems that most of them say they aren’t checking against ChexSystems and don’t check against or report to the credit bureau. That includes the one that I recently got, which also has no overdraft fees and has online bill pay too. It’s a ReadyDebit card at http://www.readydebit.com. You pretty much get what you’re looking for – all the same features as a bank account with one exception, no paper checks (but again, online bill pay makes that not too big of an issue). You can set up direct deposit to put your wages into your account.
Banks have their own networks (chexsysytems and telecheck). If you have skipped out on another bank (or credit union) in the past they may decline to accept you as a customer.
Be aware that if you don’t pay your debts, it will cost you many times the amount in the future. Not only will future loans be at a higher interest rate, but insurance companies, employers, landlords do credit checks. Some will just charge you higher rates, others will refuse to do business with you. It is much cheaper to pay the debit!
When you open a simple checking account, they don’t do a credit check. What they check for is other open checking accounts with overdrafts–negative balances, etc. This is usually done through a check verifying system, and has nothing to do with your credit report.
As long as you go with a simple free checking account, then you shouldn’t have a problem.