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Eco-Friendly Consumer’s Guide to Overcoming Challenges with Opening Checking Accounts

Shutterstock Photo License - By wk1003mike



Eco-friendly consumers have to take a lot of things into consideration. There are a lot of financial issues that people need to think about when they are trying to be environmentally friendly.

One factor to keep in mind as an eco-friendly consumer is your checking account. You want to find a checking account that is going to leave a lower carbon footprint.

Sadly, this can be harder when you have trouble getting a bank account in the first place. You will need to do your due diligence, so that you can create an eco-friendly account the easiest way possible. Eco-friendly consumers should keep the following tips in mind.

Eco-Friendly Checking Account Options When You Have Trouble Getting Any Account at All

Opening a bank account is vital in helping us manage our finances. Account statements could help us know where our money went and how much we are spending. It is an excellent idea to open a bank account, especially if you run a green business, handle your day-to-day business transactions and build a business banking relationship.

You want to try to find an eco-friendly checking account if possible. This is a major selling point if you are running a business and want to make your operations more sustainable.

If you are a student, it will be of benefit to you to open a checking account. A checking account allows its users to withdraw and deposit money. In some cases, they are often called demand accounts or transactional accounts. These accounts are easily accessible using checks, automated teller machines, and electronic debits.

The only thing that differs from a checking account to a savings account is that a savings account sometimes limits your deposit and withdrawal transactions. In contrast, checking accounts allow numerous withdrawals and unlimited deposits. Also, students and people who want to save their money wisely could find this beneficial since these accounts usually don’t have fees and are easily accessible even on mobile apps.

If you want to find a truly sustainable bank account, then you need to know what the most sustainable banking options are. We provided an overview of the most sustainable banks in this article.

If you find a hard time opening your checking account the first time, here is a list of options you could try:

Resolve your ChexSystems Report

A ChexSystems is a consumer-reporting agency that seeks to gather information about problems you have encountered with checking accounts. Before you are allowed to open a checking account, banks and credit unions conduct a review of your ChexSystems report to assess whether you have some unpaid fees, fraudulent activity, and past banking mistakes.

Thus, if you have been reported to ChexSystems, it just means that you need to pay the bank for the money you have overdrawn, and you must clear up the report before you could successfully open an account.

Try Opening A Second-Chance Bank Account

Fortunately, if you don’t have the money yet to pay for the money you owe, try to find banks and credit unions that don’t use ChexSystems, and surprisingly, many banks offer second-chance banking. A second-chance bank account allows its users to re-establish their banking history and get a good shot of other banks and credit unions without requiring a high minimum balance.

Thus, second-chance banks are the best option if you got rejected due to a bad banking history. These kinds of banks do not check your ChexSystems report and are willing to put your past transactions aside. Check out Crediful to know more banks that don’t use ChexSystems.

Reassess Your ChexSystems Report for Errors

Try to have a copy of your report and assess whether there were no errors in the information you have stated there. There are instances that the name was incorrect or the Social Security Number. If you find any errors in your report, make sure you have strong supporting documents that could help you confirm that it was mistaken.

Consider Opening a Prepaid Credit Card

A prepaid credit card resembles a standard credit card but works like a debit card wherein the bank account has a credit limit based on the account holder’s deposited money. Instead of buying items through credit, the account holder uses the money they have already loaded onto the card.

Also, it allows its users to make online purchases or pay bills. Account-holders of a prepaid credit card does not need to worry if they have accumulated debt or finance charges since they can spend all their money in their bank account. But it will not allow you to spend more over the money you have deposited, which helps you avoid being in debt.

Make a Switch to Cash

Well, if you are unable to open a checking account, think of it as the best time to switch to the traditional envelope budgeting system. Despite that you don’t have a bank account, it must not be an excuse to budget your hard-earned money.

Doing this kind of practice disciplines you in your spending until you are eligible again to open a bank account. To start your cash-only budget, set an envelope for each bill you have and label it per category. This will help you minimize and track your spending, especially on foods, every time you go overboard.

Ask the bank if they could consider

Although banks use information from reporting agencies, it is really up to the bank to decide whether a customer gets approved for a checking account or not. It’s not that hard to try and ask the bank if they could reconsider your application, especially if you have already been their customer ever since.

Make sure you know the details why you were denied and always remember that federal law would require credit unions and banks to tell their customers why they were denied a bank account.


Opening a bank account helps you keep your money protected and manage your finances no matter what type it is. The options stated above could bring you a step closer to opening your checking account when you got rejected for the first time. Consider trying them, and they might fix your problem. Always make sure that the information you encode in your accounts is credible and honest.

Andre Jackson is a freelance writer working toward a future aim of running his own writers company. He writes across a variety of subjects that are close to the heart of the U.K. economy, including property, investments, business logistics and market trends. He has been writing for the past three years, having graduated with a degree in English literature and creative writing. Andre is open to collaborations to benefit his growing portfolio.


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