Switch to ADA Accessible Theme
Close Menu
Florida Bankruptcy Lawyer
Call Today For A Free Consultation 866-907-2970 Hablamos Español

$0 down and low payment plans available. We can assist you without having to leave your home.

Why Is It So Hard to Open a Bank Account?


The signs that life isn’t fair are everywhere, but never are they more obvious than when you go to a bank and ask to open a bank account.  You show the teller your photo I.D.  You bring pieces of mail showing that your bills have been getting mailed to the same address for at least a few months, but somehow that isn’t good enough, even if it matches the address on your driver’s license.  You show them the debit card where your employer deposits your pay, since you do not have a bank account; your greatest hope is to sign up for direct deposit, so that your employer can deposit your pay into a checking account.  One could hardly blame you for feeling that, as with home ownership and employer-provided retirement accounts, checking accounts are out of reach for the young generation.  With enough perseverance and creative thinking, you can open a checking account, too.  To address the underlying problems that are creating obstacles, you may need the help of a Miami debt lawyer.

When a Low Credit Score Is the Least of Your Worries

Having a checking account simplifies your life in numerous ways; one might even say that it is one of the comforts of being middle class.  Even if you piece together an income from various jobs and gigs, all of your pay gets direct deposited into one account.  It costs a lot less to receive your wages and to pay your bills when you have a checking account than when your various employers each issue debit cards or other inconvenient ways of making you pay for the money you earned.

To open a checking account, you usually need a government-issued photo ID, a stable address, and a stable income.  To get the latter two, you usually need a checking account, creating a vicious cycle.  Things are even worse if you previously had a checking account, but the situation ended on bad terms.  ChexSystems is the checking account equivalent of a credit reporting bureau, and it is ready to dish the dirt on you if you try to open a new checking account.

Workarounds to Get a Checking Account in Your Name

There are no simple solutions, but there is hope.  If you can move in with a family member, you can solve the stable address problem.  Even better, ask a family member to open the account jointly with you.  This works as well as asking a family member to co-sign for a loan with you, except that your checking account is not a debt, so your family member will not have to worry about repaying it.  Another option is a second chance checking account.  These are more expensive than conventional checking accounts, but they can save you from the many hassles of being unbanked.

Work With a Debt Lawyer About a Bright Future With a Checking Account

A South Florida debt lawyer can help you qualify to open a checking account.  Contact Nowack & Olson, PLLC in Miami, Florida to discuss your case.



Facebook Twitter LinkedIn