Without having a checking or checking account, getting that loan is likely to be a great deal more difficult, and you will be stuck with riskier choices.
Then you understand the added financial stress of living without a checking or savings account if you live in one of the nine million unbanked households in the U.S. you need to simply take your paycheck to a check-cashing store in order to ensure you get your moneyвЂ”plus whatever charges they choose to charge; you need to pay your entire bills in cash through the mail or perhaps in individual, that will be a real means larger hassle than doing them online. The list continues.
And that you donвЂ™t have great credit if you donвЂ™t have a checking account, the odds are good. While a negative credit history does not necessarily mean youвЂ™ll get denied for a banking account, the sorts of behaviors that tanked your score can also result in your bank account application being rejected.