How to Open a Bank Account With a Bad Credit History

You may be pleasantly surprised to learn that despite a bad credit history, most banks won't hesitate to let you open a bank account. While some banks check potential customers' credit reports before allowing them to open accounts, others do not. Rather, such banks rely on the ChexSystems, which tracks people who make it a habit to write bad checks. Thus, that loan you defaulted on or credit card payments you fell behind on will not impact your ability to get a bank account as long as you go to the right bank.

Instructions

1

Call the bank and ask if it checks credit histories of people applying to open a checking account. If it does, call other banks in your area until you find one that relies solely on check-writing histories.

2

Visit the bank in person to fill out an application. Such applications typically ask for your name, date of birth, Social Security number, current and previous home addresses, and employer name and address. You may also be asked to provide a picture ID, your Social Security card and a recent utility bill as proof of address.

3

Allow the representative or teller to conduct a ChexSystems check based on your Social Security number. This won't take long. She will then tell you whether you are approved to open a checking account.

4

Present the representative with cash or a check to deposit into your new account.

5

Ask to open a savings, instead of checking, account if you are denied a checking account based on your ChexSystems file. Most banks will allow people who fail a ChexSystems check to open a savings account. After six months or responsible account use, the bank may reconsider allowing you to open a checking account.

6

Join a credit union if you need a checking account immediately, since these financial institutions tend to be more lenient, even if you have a bad credit history and poor ChexSystems record. Complete an application as you would for a bank account and provide cash or a check to deposit into your new account.