Debit Card Accounts
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It is estimated that there are nearly 5 million people in the U.S. that for various reasons are unable to be approved for a checking account at a bank.
This creates difficulties with the most basic services like getting their paychecks cashed or obtaining direct deposit. It also has resulted in a very huge check cashing industry which charges expensive fees to cash payroll checks each and every payday.
If you are one of the estimated 5 million, then you should be aware that there are options available to you.
There are simple online services that will give you: 1) The ability to obtain direct deposit of your paycheck. 2) Eliminate having to use those expensive check cashing services on payday. 3) ATM Debit Card with a Visa or MasterCard logo that can be used anywhere. 4) A convenient way to pay bills without having to always purchase money orders. 5) Services that will allow you to rebuild your credit... and more.
This is all conveniently available to you WITHOUT having to use the traditional banks at all!
These are prefunded accounts. They are also referred to as personal money accounts, or a debit account.
Personal finance is very different today than it was when most of us grew up, or even just a few years ago. It is simply no longer necessary to write paper checks... waiting for them to clear... balancing your checkbook... sending checks through the mail... waiting days for the payment to be credited... remembering the outstanding checks that you wrote which haven't cleared yet... etc. etc. In fact most business now prefers that you do not use paper checks.
This means none of the estimated 5 million people have to plead with some bank to approve them for these old fashion and outdated checking accounts services.
One of the most popular bank alternatives is a prefunded service called AccountNow
This prefunded debit service will give you an ATM card with either a MasterCard or VISA logo. It can be used the same way and the same places anywhere credit cards accepted.
Your funds are actually held in a real bank that is government FDIC secured. But the account is not classified as a standard checking account. Because of this there are no credit checks. There also no chexsystems checks and no telechecks. Everyone is approved.
You simply have to put money in the account. Then you start using the card. You will be provided a routing and account number. You can then immediately sign up for direct deposit of your payroll check and fund the account this way.
There are no hidden security fees. You also get free online bill pay for up to seven transactions a month. The service includes a Credit Builder system that lets you build your score with bill pay transactions
This service will benefit you. It will give you all of the things you need to conduct your day to day finances. If you have had problems getting a bank account due to bad credit or any other reason... getting a prefunded debit account will eliminate your problem.
Article Source: Articlelogy.com
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