Second Chance Checking Accounts are checking accounts developed by institutions for people who have struggled in the past and are maybe on Chexsystems or have a poor credit score. Typically second chance checking accounts aren’t quite as lenient as regular checking accounts and may have some downsides. For example, some second chance checking accounts charge a monthly fee and then restrict services.
Posts on ‘June 30th, 2009’
Washington Post Overdraft Article
The Washington Post published an article (article can be found here) talking about the current bank fee situation. It addressed the fact that many banks are increasing fee amounts, adding new fees as well as requiring higher minimum balances on checking accounts. Banks are using fee income generated by checking accounts to help soften the blows taken from the down economy and the mortgage crisis. We created Probity Financial Services to give customers a way of having a checking account without funding the banks financial situation. We didn’t start with failing