A Second Chance at a Bank Account

As I mentioned before, I am in ChexSystems and unable to have a traditional bank account at a bank like Bank of America or Chase. For the most part it's okay because there are other options available, such as AccountNow which I talked about here, but if you ever find yourself in a position where you need to rent a car, for example, it can be nearly impossible without a debit card from a "Brick and Mortar" bank.

If you are in the same position and unable to open a checking account for whatever reason, you should register for Bank on San Jose. The program is run by United Way of Silicon Valley, and if you sign up and attend one of their financial classes you will receive a certificate that you can take to one of the participating banks or credit unions and they will help you open a "Second Chance Account".

Opening an account at a credit union is a great idea, especially if you anticipate trying to get a car loan in the near future. They usually have the best rates on loans, so I would suggest signing up for this program at yout earliest convenience. The website has the class schedule (they are all held in the evenings for the most part), the list of participating institutions, as well as the answers to just about every question you might have.

Make 2012 your year of financial independence!