Published on April 22nd, 2021 | by Bibhuranjan0
How To Think GREEN And Tackle Financial Challenges By Using Checking Accounts
Nowadays, people have to consider a lot of financial or environmental challenges and devise effective methods to deal with them. Customers mostly wish for a checking account that is easier to use and convenient to keep in a long run.
However, a bank account is not a piece of cake to achieve when you are facing a poor credit score and wish to settle for an environmental-friendly solution.
Checking Accounts That Keep The Health Of Your Planet In Mind
There is no doubt that bank accounts are quite useful as a money management tool. On top of that, an eco-friendly checking account can help keep your business more sustainable. Moreover, it is a great selling point for banks as well since many customers now prefer “going green” when they are making life choices.
So what can you do when you are in need of a checking account that is friendly to the environment and offers all other features of a reliable bank account as well? Here’s the solution!
1. Fix Your Chexsystems Report
Banks use Chexsystems reports to determine whether you are a worthy customer or not. If the record shows that you have misconducted finances in the past or that you are dealing with huge amounts of debt, late payments, and banking mistakes then eventually you would be asked to consider financial institutes that don’t rely on Chexsystems reports.
This might not always be an easy thing to do so your first resort should be to assess your own report and see if any improvement can be made quickly. This includes getting rid of debt, paying overdraft fees, trying to remove repossessions, etc.
2. Look Beyond Chexsystems – Consider Second-Chance Bank Account
If your chexsystems report is damaged beyond quick repair then there is no need to worry because we still have a solution!
Your try should be to look for banks who are willing to ignore credit checks and let you open an account. Such banks, known as the non-Chexsystems bank or second-chance banks, may or may not conduct a review of your report but it does not affect their decision to accept you as an account holder.
3. Try Your Luck With Prepaid Credit Card
In case you are looking for a bank account to make deposits and save your funds to use later then prepaid credit cards can serve as a good alternative. Some cards now even come in an eco-friendly material making them a better choice than conventional bank account systems.
You can load money onto the card and use it to shop later until the funds run out. These cards are sufficient to make an online purchase and hold on to your savings for as long as you need. Another advantage is that you can never over-spend with a prepaid credit card. The only amount that you can use is the one that you load onto it.
4. Use Traditional Budgeting Systems – Cash!
Oh, the good-old feeling of having cash in your pocket.
You can follow the practice of working with cash until your finances are in a shape well enough to afford a bank account. Cash expenditure would also let you keep track of your spendings and avoid going overboard carelessly.
5. See If The Bank Can Rethink About Its Decision
The last solution is to get in touch with a bank’s customer support service and see if the authorities are willing to make their terms a bit flexible for you. If you follow the right protocol, you can convince them to reconsider your application.
You can assert that you have been their customer for a long time and need help in times of a rough financial patch.
The Bottom Line
Bank accounts would always help you keep your money safe and they are eco-friendly means of managing finances as well. You can follow some of the tips mentioned above to get a checking account if you have been rejected before. Best of Luck!
Photo by Alexander Mils on Unsplash