If you want to get a bank account when you have bad credit history, you are going to run into a few stumbling blocks. First, if you have bad credit, you won't be able to open a bank account. Anywhere. Second, if you don't have a bank account, you can kiss any opportunities of ever getting any credit - pretty much all lenders will want proof that you have a bank account.

Now If you can't open a bank account, you should understand a bit about what's causing the problem. It's called ChexSystems.

What is the Chex System

Chex System is an bank network designed to prevent people who have a history of bank fraud from starting new accounts. The way banks keep tabs on this is that if you do something suspicious (bouncing checks, closing down a lot of accounts, etc), you get entered into a global network that all banks have access to.

How Long Will I Stay in Chex System

You will stay in the system for roughly 5 years.

What to Do if I Get Entered Into the Chex System

This is the big question. If you find yourself in Chex System, you wont' be able to get a normal bank account. This can, clearly, cause you some financial difficultly. These days, not having access to a banking account is the equivalent of losing an arm and leg. To address the growing number of people who have been blacklisted from banks because of credit issues, some lenders have put together special online accounts that offer banking services to people who are unable to open any other banking account. These are called second chance accounts.

If you have bad banking credit, you are going to have to open one of these second chance accounts. Now here's the thing - second chance accounts are expensive accounts. You will pay much more in fees than you would for any other bank account. That's part of the price you are going to have to pay to have second chance account. You are going to have to decide whether it's worth it or not. For many people, it is indeed worth it. Your really won't have any other choice.

To get a second chance bad credit account, you will have to start your search online. There are many internet banks now offering this type of account, so with a bit of looking around, you would have too many problems finding the account.

Getting a checking account when you have bad credit is important because without an account at a bank, your options are quite limited in the financial world. A second chance bank can give you the opportunity to have a second chance.