About the Chex System - Opening a New Bank Account With Bad Credit

Chsavings accounts to its banking community. They keep a database to track negative information regarding ex Systems Inc. is a network of financial institutions that reports your mishandled checking or your history of accounts and provide this information to financial institutions inquiring whether or not to allow you to open a new bank account.

They only report to those institutions that pay a member fee but this is comprised of about 80% of banks. Are you trying to open a new bank account? Did you mishandle your checking or savings account by not paying fees or bouncing one too many checks?

When you do get the unfortunate occurrence of being blacklisted by Chex Systems, you still have other opportunities to get a bank account. If you pay your fees that Chex Systems says you owe, many banks will allow you to open a savings account.

There are many non chex system banks. They opt to use the credit bureaus and rely on your credit score to approve or decline accounts. Many credit unions do not use either system of checks and balances and provide an easier way to opening an account.

Here are some tips for dealing with being on the Chex systems blacklist:

1. Do not close any of your banking accounts. It's always good to have two accounts in different banks, especially with a shaky credit history. Most importantly, keep your accounts positive. Pay all outstanding fees as soon as you learn about them.

2. Once you have paid all your fees and satisfied the bank that reported you, obtain a chex systems report to make sure that is the only negative listed account; type a short letter explaining your new position and have that new information inserted into your Chex System file.

3. Banking officials always have the option to overrule Chex Systems by opening an account for you, but this probably will not happen until to pay off whatever Chex systems says you owe.

4. Almost 80% of banks use Chex systems, however, there are a few that do not. For example, many credit unions do not use Chex sytems. You may also want to inquire into a brokerage account that comes with check writing features.

Download a free insider report that reveals step by step strategies for quick self credit repair now. David N Kamau had to repair his own credit and offers free credit repair tips at his site and blog.

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The Importance of a US Bank Account for a Non-Resident

Here in this article, I am going to show you how important it is to have a US Bank account even as a non-resident and how you can go on to have your first account with a US Bank.

As an Internet Marketer or someone trying to make money online, having a US Bank account can make a lot of differences. For instance you can easily receive all your payments from companies abroad, most of whom are in the US, by way of Automated Cleaning House (ACH) / Electronic Fund Transfer (EFT) method. This transfer method is free in most cases and takes 2-3 business days for you to have the money deposited to your US Bank account.

Imagine the other way!

You are a non- resident of US. You don't have a US Bank account. All your receipts / payments would be made to you by way of cheques. The cheque is cut and mailed to you in your home country. Depending in which country / continent you are located, it could take 2-4 weeks to reach you - that is if it does not get missing in transit.

When you get your cheque, you would deposit it with your local Bank in your country. Your local Bank collects the cheque and mail it back to the US, to be collected through her correspondent Bank or Agents. Depending on your location, this could take 2-4 weeks to reach and another 2-3 business days to clear. Look at the time frame involved (4-8 weeks) to get your money.

And for all I know, the cheque could be for an amount ranging from $60 -$200. The local Bank in your country which helps you to collect your fund would change you a fixed amount of $25 - $45. And $60 less $25, you have $35 left. Scary? Yes, and that is the reality on ground.

In a year's time, if you get 20-30 cheques from various companies, imagine how much you would be paying. You cannot draw a US Bank cheque / Draft unless you have to go through your local Bank and so on. You can therefore imagine how frustrating not having a US Bank account can be , if you are tying to make money online.

So what is the choice?

You need and must have a US Bank account, even though you are not resident there. But it is almost "impossible" now, with the war on terror and the Patriot Act. But there is a way that it could be done.

Let us look briefly at how you can set up a US Bank account as non-resident of US.

First option is that you set up a company, incorporate one and have an office presence in the United States. Very expensive option you know! How many of us can afford this?

Second option is have someone do it for you for a fee ranging from $400-$800. Expensive also.

Third option is buy info on this. They are a few good Reports that will show you how to do this by yourself. The price for the Reports ranges from $20 - $97. This was the option that I used to get my own US bank account.

Whichever option that you decide to follow is entirely up to you. You can do some searching at a place like Google.

You could pay for the information or get a company or someone to do it for you at a fee. It depends on you and your pocket. You do not need to incorporate a US Company before you can get a US Bank account. That is an expensive approach.

So go ahead and get your own US Bank account now. Do not wait until tomorrow as the laws are constantly changing. What is possible today may not be possible tomorrow. ACT fast. Good Luck.

Okereke Uma is an Internet wealth Consultant and Writer. He has written a Special Report on How to get a US Bank Account as a Non-Resident. Get it at: http://www.ewealthsuccess.com/us-bank.html

Also you can learn how to make at least $60k online p.a. by reading his Ewealth Success Series! Send a blank email to subscribe: hamlak@freefollowup.com or visit him at http://ewealthsuccess.com/

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Do I Need A Bank Account?

For most working adults, the answer to that question is yes. Having a bank account can be very useful as you go through life, and it can help you many ways, especially as you begin to build your credit history.

Opening a bank account is relatively easy for most people. You will need some documents when you go to open your account. At a minimum you must provide proof of your age, address, and legal status. This is true whether you open a bank account in person, on the phone, or on the Internet. Legal documents can be a valid driver's license, birth certificate, or state ID card. You will also need a social security number in most cases.

You should have these papers with you when you go to the bank to open the account. Most banks can service you within thirty minutes or so. If you are planning to open a joint account, both parties should be present, and both parties will need the same papers. In other words, you both must provide the documents that you need.

Before you go to the bank, you should decide what kind of account you want or need. The most popular account and the most useful is a checking account. This type of account allows you to deposit money and write checks. Some banks offer interest-bearing checking accounts, which allow you to earn money on your deposit.

Some banks will require a minimum deposit in order to open the account, others will not. Some banks may charge a small fee to help cover the cost of your checking account, but other banks offer free checking. Whenever possible, choose the free checking option.

If you want to save money, a savings account may be the way to go. These accounts allow you to deposit money and the money will earn some interest. The longer it stays in the account the more interest it will earn. You are allowed to withdraw this money if you need it, but it is always better to let it stay in place if possible.

For those who have access to one, a credit union is another option. Credit unions act a lot like banks and they have many of the same services that a bank has.

If you wish, you can open an account with an online bank. If you decide to do this, make sure that you check the bank out carefully before you send any money to them. You want to visit the online area and read their policies carefully. Of course, in order to get the most out of an online bank you will need an internet connection and computer.

Many local banks also offer online banking and that is something many consumers find useful. This allows you to do your banking without having to go to the bank in person. Online banking allows you to make deposits and withdrawals and it allows you to keep up with your account on a daily basis. It is simply a matter of logging into your account to view your current status. Many people find online banking extremely useful.

About the Author

Peter Kenny is a writer for The Thrifty Scot, please visit us at Checking Account and Cheap Mortgage

Published At: http://www.isnare.com/
Permanent Link: http://www.isnare.com/?aid=198790&ca=Finances

Foreigners, Spanish Bank Accounts And Money Transfers

What follows is information regarding VISA cards, transaction fees, on line banking advice, debit cards and other financial information concerning expatriates in Spain.

Upon going to open a bank account account in Spain one of the first hurdles you must overcome is that of the language barrier. It may well be that the cashier is a non English speaker and has not experienced opening an account for a foreigner previously. Certain information regarding set-up fees is not always provided accurately or followed through upon either. Having an interpreter with you can significantly reduce the frustration and hassle.

For foreigners, two types of bank accounts are usually available:

Firstly is that of a resident bank account. This allows you to set-up an account in either euros or any other current that your bank offers.

Secondly is that of a Nonresident bank account. This account is normally for those people who do not posses an NIE card and are originally not from Spain. The regulations governing Spanish banks nonresidents are allowed to own bank accounts in foreign currencies or euros. To open the account you must provide valid identification such as your passport or ID number from your country of origin. The main reason for doing this is because you have to hand over a percentage of the interest you earn on your account which is different depending upon your residential status. Usually about once every six months the bank confirms your residency status. Residents of course get the better deal.

Most utilities will be paid as a direct debit from your account although some landlords may request 'dinero negro' or more commonly known as cash in hand to avoid declaring their tax accurately.

It is definitely worth shopping around accounts or even considering keeping most of your money back home due to the fact that bank fees are relatively high in Spain. The usual type of fees often apply: per debit card, annual fees, minimum balances and so on. Typical fess of one of the larger banks, La Caixa for transfers into or out of an account are as follows: 0.5% from or to an international account, 0.25% from or to an international account unless it is in the same currency or 0.25% from or to a national non-La Caixa account.

For keeping track of banking records, bank books (known as Libreta) are usually offered but not mandatory. However Visa and Debit cards are of course the most practical and efficient.

Overall the Spanish banking system is very efficient and successful. Online banking is offered by the majority of banks and money transfers are also fast. American Citibanks do exist but the to transfer money overseas the money transfer fee is the same cost as if you were using a different banks account. It is however possible to open an account that operates in several currencies such as UK pounds, US dollars and Euros; however expect the normal baggage of fees to apply.

Finally if you are feeling conscientious a bank known as Caja spends their profits on more culture endeavors and not just to line the pockets of shareholders. Overall their are plenty of methods and opportunities to fit all budgets and requirements so as ever... shop around!

Money Transfer Review provides free money saving comparison charts, safety tips and money saving advice for all your money transfer needs. Simply click: Money Transfer or Transfer Money Overseas to discover more. Article Source: http://EzineArticles.com/?expert=T_Ryan

US Bank Accounts for Non-Residents

Are you a Non US Resident and wants a US Bank Account badly so that you can open a Paypal account and start selling online? Getting A US Bank Account is simple, easy and – yes, free. I see so many people in internet forums who need a US bank account. I needed one.

Want to know how I did it?

Have you caught yourself saying this many times - “I’m here in South Africa (or in India) and nobody loves us. Especially not PayPal.” Well, here is the good news. I am from India and I got a US bank account, linked it to Paypal, got verified, got a VISA debit card, got a Paypal Debit Card, and now happily withdraw my cash out an ATM anytime.

It’s no secret. Just few simple steps. Follow them asis and you will soon have your own “US Bank Account” and a “Paypal Account”.

Step 1: First, you will need a US mailing address. This is so you can get all your letters, cards etc to you. It’s not really quick to get mail to you – but it works.

These are few of the best mailing services:

· http://www.usa2me.com - Highly Recommended!

· http://www.myus.com

· http://www.usglobalmail.com

Step 2: Next you will need a Paypal account. Paypal.com is the place, and its free. Signup free, and use your mail address the US mail forwarding service gave you.

If you have already signed up for Paypal, sign up again under a different email, or delete your account and start again with a fresh one.

Step 3: Now, time to get a US bank account. We will use E-trade. http://www.etrade.com. I have attached the forms that you need to fill up and send.

Follow my instructions below and you will have an account with them sooner than you’ve expected.

How to fill in the forms:

Download the form from here: http://myimlab.com/uploads/emea_us_brokerage_application.pdf

Note - A more recent version of form can be downloaded from https://us.etrade.com/e/t/home/openanaccount

Fill ONLY the things in the steps and NOTHING else.

1. Account type: Mark the box labeled individual account.

2. Put your name, initial of middle name and Last name in the fields under “Primary Account holder. Leave the whole “Co Account Holder” side of the form blank.

3. Put your “HOME” address under address. NOT your US address.

4. Put your Home and Business phone numbers in the next field. The format must be “+91(0)9910670401”. Copy the format.

5. Mark the boxes “no” under the next three options on this side of the form and continue to the next page.

6. Put your passport number under the passport number field.

7. Put your Country under the “passport country of issuance and the “country of legal residence and the “Country of citizenship”

8. Move on to “create your investment profile” just below this.

9. Select the boxes “capital preservation”, “none”, “your income”, “you’re approximate net worth”, and “your approximate liquid worth” . I would select a medium income for all these to be safe.

10.Under (4) “Select your account features”, under “taxable income” select Etrade Financial sweep deposit account. It’s the first choice in the list.

11.Leave the “Tax exempt Income” Blank.

12. Cash management features, select “free check writing” and NOT The debit card option. This will come later and you will be charged for it if you select it now.

13.Leave the rest of the form blank and continue.

14. On page 3, under “Fund your account” select the last option “I plan to wire funds from another financial institution.

15.Under “ Sign and date your application” , select “ I am not a US person “

16.Sign this page and move on to page 4.

17. Leave Page 4 blank, but sign and include it.

18.Under” Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding “

19.Under “Name of individual or organization that is the beneficial owner” put your own name

20.Under “Country of incorporation or organization” put your own country.

21.Under “Permanent residence address” put your street address.

22.Under “City or town, state or province. Include postal code where appropriate.” Put your city , then state/province , then postal code

23. Under “country”, put your country.

24. “Claim of Tax Treaty Benefits (if applicable)” tick box a) and put in your country.

25.Leave the rest of the form blank , Expect put “self” under the “category under which acting”

26.Sign and date the form.

Now you’re done with the forms.

Next Steps:

#1: PRINT OUT ALL PAGES (5 pages total)

- Application Form 4 pages - in JPEG format

- Non-US Resident Declaration Form 1 Page - in PDF format

Note: You MUST use Adobe Reader to open the Declaration Form.

The latest version is recommended.

Adobe Reader is freely available at www.adobe.com

(If you do not use the latest version of Adobe Reader, your personal details (such as your name and address) may not be displayed or printed properly.)

#2: VERIFY ALL PERSONAL DETAILS

Make sure your name is spelled correctly, address, passport number, etc. are correct. Page 4 of 4 of the Application Form is entirely blank. Leave it that way. But sign it.

#3: SIGN; WRITE your name in CAPITALS and today’s DATE on Page 3 of the application Form.

#4: SIGN and write today’s DATE on the Declaration Form

#5: MAKE A PHOTOCOPY of the photo-page of your passport. Please make sure it is very clear! – Make two copies – they will need two.

#6: PUT THEM IN AN ENVELOPE AND MAIL to the address on top-left of Page 1 of the Application Form. DO NOT encloses a check or cash as initial deposit. Wait for your account number to be issued first instead, then make your initial deposit by wire transfer or by adding it to your PayPal account.

Once you have your account number, you can immediately add to your PayPal account to be confirmed and verified.

When E*Trade Financial receives your application, your account will be opened within 1 week.

You will receive an email notification at your supplied email address.

For FASTEST service, I recommend you use UPS or Fedex.

Once you get that done, then login to your account and request a debit card. Comes via FedEx in a couple of days. Download money from PayPal to your Etrade account and withdraw at your local ATM.

Piece of cake!

Deepak Arora is a web business coach and marketing products specialist with a vast internet marketing experience. He has recently launched a web site to help the internet business owners to create, run, promote and profit from their online businesses. He strongly believes in his "LAS Principle" - Learn..Apply..Succeed and that's what he teaches and shares at

http://myimlab.com/

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