A study done by the FDIC shows that about 3.8% of households, or nearly 60,000 households, in Oregon are completely “unbanked”. This means that no one in the household has a checking or savings account. Compared to the rest of the country, this number is actually pretty low!
There are plenty of reasons why people don’t have bank accounts. For one, there can definitely be a distrust in big banks and if they will truly keep your money safe. An increasing number of people are also being blacklisted from the majority of banks in Iowa because they’ve been reported to a consumer reporting agency called ChexSystems.
ChexSystems is used by the majority of banks in the country and is supposed to protect banks by turning away anyone with a history of fraud or suspected identity theft. With that being said, a lot of other people are turned away for more common banking mistakes. If you’ve experienced an involuntary account closure or haven’t been able to pay debts at other banking institutions, there’s a good chance you have been reported to ChexSystems.
Instead of shooting in the dark with the big banks, it’s our job at CheckingExpert.com to give you the full scoop on all the banks in Oregon that truly want your business! Many of these banks offer second chance bank accounts that are tailored to people who have a negative banking history. Other banks don’t use ChexSystems at all and will even overlook a bad credit score to help you get the checking account you deserve.