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Reviews Of Checking Accounts With Bad Credit

Find listings and reviews of banks and credit unions that offer second chance checking accounts for those with a negative chexsystems report.

Dec. 20, 2012 - PRLog -- Bad Credit MD, a  free On-line information guide that helps people with credit problems in the United States, Canada, Ireland, United Kingdom, India, South Africa, Australia, and New Zealand has updated their list of banks in the United States with current reviews of financial institutions that offer checking accounts for people who have been turned down for checking accounts at other banks because of a negative chexystems report, This list of non-chexsystems banks, credit unions and financial institutions offering second chance checking accounts can be viewed at http://www.badcreditmd.com/checkingaccountschexsystems.html (http://www.badcreditmd.com/checkingaccountschexsystems.html)

When it comes to finding a safe place to put your money, there are a lot of options. Savings accounts, checking accounts, certificates of deposit and money market accounts are popular choices. Each has different rules and benefits that fit different needs. When choosing the one that is right for you, consider:

- Minimum deposit requirements- Some accounts can only be set up with a minimum dollar amount. If your account goes below the minimum the bank may not pay you interest on the money you deposited and you may be charged extra fees.

- Limits on withdrawals- Can you take money out whenever you want? Are there any penalties for doing so?

- Interest- How much (if anything) is paid and when: Daily, monthly, quarterly, yearly?

- Deposit insurance- Make sure your bank is a member of the FDIC. This organization protects the money in your checking and savings accounts, certificates of deposit and IRA accounts up to $250,000.

- Credit unions- A credit union is a nonprofit, cooperative financial institution owned and run by its members. Like the FDIC does for banks, the National Credit Union Share Insurance Fundor (NCUIF) insures a person's savings up to $250,000.

- Convenience- How easy is it to put money in and take it out? Are there tellers or ATM machines close to where you work and live? Or would you receive most of your service via the telephone or Internet?

If you are considering a checking account or another type of account with check-writing privileges, add these items to your list of things to think about:

Number of checks- Is there a maximum number of checks you can write per month without incurring a charge?

Account and check fees- Is there a monthly fee for the account or a charge for each check you write?

Holds on checks- Is there a waiting period for checks to clear before you can withdraw the money from your account?

Overdrafts- If you write a check for more money than you have in your account, what happens? You may be able to link your checking account to a savings account to protect yourself.

Bounced checks- It's your responsibility to have sufficient funds in your account to cover checks that you write. Your bank will charge you for insufficient funds. Bounced checks can also blemish your credit record, so you may want to talk to your bank about overdraft protection.

Bad Credit MD has been in business helping consumers with bad credit since April of 2007 and is a subsidiary of Enticing Designs Publishing.  The staff has various  backgrounds in the financial and mortgage industry.  This self-help site has over 500 pages of credit advice and articles.  Its staff has researched its information with various governments around the world to provide the most comprehensive and accurate information free of charge.  

To inquire about our Bad Credit MD please visit us at http://www.badcreditmd.com.

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