| If you've ever written a bad check (whether | | | | your debit card, including for getting cash |
| it was on purpose or accidental) or have had | | | | from the ATM. |
| problems with banks, there's a pretty good | | | | |
| chance that you're on a list maintained by | | | | A debit card automatically deducts the amount |
| ChexSystems. This list can cause you a lot of | | | | of the purchase from your account, meaning |
| problems when it comes to getting a new bank | | | | that you don't have to pay interest or deal |
| account or doing other banking tasks. | | | | with credit. Since the transactions show up |
| ChexSystems is a Consumer Reporting Agency, | | | | on your bank statement, you'll be able to |
| like TransUnion, Experian, and others. It | | | | track your spending. If you want, you can |
| provides a list of customers that it | | | | choose to have your paycheck deposited |
| considers to be high risk to banks across the | | | | directly into your debit card account. That |
| country. | | | | way, you won't have to use check cashing |
| | | | stores to get your money. |
| Not everyone on this list really is a big | | | | |
| risk, though. Some people end up on it | | | | The biggest difference between a regular |
| because of errors in data, theft of their | | | | checking account and a debit account is that |
| identities, and many other mistakes. Once | | | | you normally don't get a checkbook with your |
| you're on the list, however, it becomes very | | | | debit card. You'll be able to pay your bills |
| hard to get a new bank account. Most banks | | | | online via Echeck, or automatic debit. Many |
| use ChexSystems data to decide whether or not | | | | people prefer to use online banking services |
| you'll be allowed to open an account, whether | | | | (such as those provided by debit card |
| or not that data is accurate. If you've been | | | | accounts), because they are free -- you don't |
| trying to find a bank that doesn't use the | | | | even need to pay for a stamp and an envelope! |
| ChexSystems database in your area, you might | | | | Further, using online banking makes it even |
| have gotten frustrated, and resigned to going | | | | easier to keep your account balanced, so you |
| through life without an account. However, | | | | avoid further banking problems. |
| don't give up hope yet. Debit cards and | | | | |
| Internet bank accounts are still an option. | | | | This means that you still get most of the |
| | | | advantages of an ordinary checking account. |
| If you're tired of constantly carrying cash, | | | | There are still plenty of banks that permit |
| getting money orders, and using check cashing | | | | opening a debit card account for people who |
| services, getting a debit card account could | | | | are on the ChexSystems list. That makes this |
| be the answer you're looking for. You can use | | | | an excellent option if you're on the list and |
| these cards just like regular credit cards - | | | | can't find a local bank that doesn't use it. |
| at bookstores, gas stations, the grocery | | | | A debit card account is a great alternative |
| store, restaurants and online. Anywhere a | | | | to an ordinary bank account. |
| Visa or MasterCard is accepted, you can use | | | | |