Getting a great bank account can be hard, especially when you are on the ChexSystems list or have bad credit.  I know, because I’ve been there.  I used to have a great checking account at a local bank, and was always a good customer.  Then I ran into some work problems, and got laid off.  Money was tight, and I bounced a few checks.  My bank closed my account.  – Visa Debit Card

I finally got another job, but couldn’t find another bank that would let me open a new account.  Each bank I went to told me the same thing: “We can’t open an account for you – you are on the ChexSystems list.”  I never even knew that such a list existed!  But boy, did being on that list cause me problems.

To cash my paycheck, I had to go to a local check cashing store each friday.  I’d wait in line with everyone else, and pay for the privilege of getting my paycheck cashed.  Then, when I needed to pay rent or my phone bill, I’d go back to the check cashing store and buy a couple of money orders.  The fees and wasted time were driving me crazy.  Some weeks, I’d spend $40 just to pay my bills and get my check cashed (and I didn’t make a heck of a lot to start with!).

I started searching everywhere for a bank that would let me open a decent account with them.  Most of them were super-expensive, or didn’t have all the features I wanted (like bill payment, a debit card, FDIC insurance at a real bank… stuff like that).