Since checking accounts are a necessity these days, people with bad credit may find it difficult to open one. Nevertheless, opening a checking account with bad credit online is an option for these people and provides a way for them to pay bills, direct deposits and other services for simple money transactions and management.
If you want to open an online checking account with bad credit, you should secure a copy of your credit report and correct errors. Even small errors can lower your score. Next thing that you have to do is to buy a prepaid debit card since you would need this card to fund your online checking account. Put $100 on the debit card which is a common amount for opening a deposit. Consider opening a basic account online with a bigger bank and add direct deposit from your employer.
Most internet banks have lower score requirements, thus you can open an account more easily. You could also try opening an investment account. Even though this account often requires a bigger deposit, these banks will usually offer a checking account product for you. Your credit score will not be used in opening the account. Keep in mind that today is one of the deepest financial crisis around the world, thus many people have to deal with various kinds of unfavorable circumstances. However, there is no such thing as a completely negative situation. You can still open an online checking account even on a bad credit and take control of your finances.