Unable To Own A Bank Account - Alternatives?

Jturner1 · #1 01-23-2018

My credit is absolute **** and I cannot bank at really any bank, but only prepaid ones. Is there a alternative that works with Amazon or ebay? I cannot get a credit card or debit card tied to a actual account. I plan on filing bankruptcy but until then, what could I do?

rsot · #2 01-23-2018

Payoneer seemed to work on Az but not for eB.

What happened - how come you messed up your credit file/history?

Jturner1 · #3 01-23-2018

Quote:

Originally Posted by rsot

Payoneer seemed to work on Az but not for eB.

What happened - how come you messed up your credit file/history?

Oh ok, I just got a Payoneer card in the mail, I got to figure out how to load it, thanks for the advice.

Being thrown on the streets at a young age without notice, becoming homeless with bills that got out of hand.

phaz0rz · #4 01-23-2018

Work on your credit man. It's not that hard. If you have $200 you can spare, you can go into a credit union and start a secured loan. You give them your $200 as collateral and they loan you $200. (I recommend a credit union because the one I work with doesn't charge any origination fee, where Wells Fargo would charge $50 for the same loan) Pay it off after a few weeks and then repeat this process dozens of times until your credit score is in the 700's. I'm in the 750's after maybe a year and I started @ 525 (no credit history).

For us in the US there's really no alternative to an FDIC/NCUA insured checking/savings account.

yankee · #5 01-23-2018

Credit score makes little or no difference to many banks and credit unions if not most in the USA. They may not offer you interest accounts or over draft protection, but you still can have a checking and savings account.

It is check systems that holds you back. What is on that? How much do you owe a bank? That usually can be cleared up in minutes if you have the available cash on hand and sometimes if it is old, open an account with the same bank without clearing the old debt.

phaz0rz · #6 01-23-2018

You can get a copy of your Chex report here if you aren't sure about the status of yours:
https://www.chexsystems.com/web/chex...ACTAFreeReport

I was turned down at a credit union for having no credit history though. Tis the primary reason I started building credit.

Jturner1 · #7 01-23-2018

BB&T charged me almost $1,000 in over draft fees because eBay kept hitting my account, because I had over 50 items to ship the day I was thrown to the street. As crazy as it sounds my dad got strung out on Meth and went skit Zo thinking I was out to get him. He the stole the 80k in inventory I had there, and absolutely everything I owned down to my tooth brush. I spent 8 months in a shelter after that, and the police told me to get a life when I attempted to obtain stuff and allowed him to steal my vehicles as well. That' was the start of my credit being screwed as well for my life for a good while afterwards.

phaz0rz · #8 01-23-2018

Sounds like a typical meth user. I'm sorry to hear about your circumstances man but I'm glad to hear you're starting to get back on your feet (or you're at least trying).

You could get an EIN and open business bank accounts.

Jturner1 · #9 01-23-2018

Quote:

Originally Posted by phaz0rz

Sounds like a typical meth user. I'm sorry to hear about your circumstances man but I'm glad to hear you're starting to get back on your feet (or you're at least trying).

You could get an EIN and open business bank accounts.

Thanks, I'm getting there. Using a EIN wouldn't allow the bank to see my personal credit?

phaz0rz · #10 01-23-2018

Quote:

Originally Posted by Jturner1

Thanks, I'm getting there. Using a EIN wouldn't allow the bank to see my personal credit?

I believe a sole proprietor EIN would still be tied to your personal credit, but not an LLC/corporation EIN. Your LLC credit history would be separate from your personal credit history unless you deliberately tie the two together by doing something like applying for a business loan with your SSN.

The catch is your EIN wouldn't have any credit at all. That's not usually a factor unless you're applying for credit though. It wouldn't be hard to start yourself a credit profile for your EIN - there are businesses who offer business credit building as a service.

https://www.creditkarma.com/question...-they-seperate

newjerseymax · #11 01-23-2018

Im sorry man! Just remember that everything happens for a reason and you might not know until later in life, if ever.

I feel you. I was homeless too for a while when I was young. I used to sleep under lifeguard stand for shelter at night.

Now I own my house ouright, no payments and cars without payments. I dont have any debt because my credit score was so low I paid all in cash and in time my score wnet up and its been around 790.

Keep making right decisions and you can turn it around!

Have a bleesed day and sending you awesome vibes!

Jturner1 · #12 01-23-2018

Quote:

Originally Posted by newjerseymax

Im sorry man! Just remember that everything happens for a reason and you might not know until later in life, if ever.

I feel you. I was homeless too for a while when I was young. I used to sleep under lifeguard stand for shelter at night.

Now I own my house ouright, no payments and cars without payments. I dont have any debt because my credit score was so low I paid all in cash and in time my score wnet up and its been around 790.

Keep making right decisions and you can turn it around!

Have a bleesed day and sending you awesome vibes!

Thanks everyone for all the helpful Information, and encouragement. Very much appreciated!!

yankee · #13 01-23-2018

EIN will remove you from the check systems or credit score but you will still have to supply the users SS number, aka you by law. You should not have issues.

yankee · #14 01-23-2018

You will have to file your EIN with a state. Depending on your state it could be very little or a lot.

Have you talked to BB&T and see if you can work something out? It is possible. I am not saying likely but possible.

Jturner1 · #15 01-23-2018

Quote:

Originally Posted by yankee

You will have to file your EIN with a state. Depending on your state it could be very little or a lot.

Have you talked to BB&T and see if you can work something out? It is possible. I am not saying likely but possible.

Thanks for the info. Bank manager last name is is Hartless and she lives to her name.