Without a checking or savings account, getting that loan will probably be a great deal more difficult, and you’ll be stuck with riskier choices.
Then you understand the added financial stress of living without a checking or savings account if you live in one of the nine million unbanked households in the U.S. You must bring your paycheck up to a check-cashing shop simply to get the money—plus whatever costs they opt to charge; you need to pay your entire bills in money through the mail or in individual, that is means larger hassle than doing them online. The list continues.
And that you don’t have great credit if you don’t have a checking account, the odds are good. The kinds of behaviors that tanked your score can also lead to your account application being rejected while a bad credit score doesn’t necessarily mean you’ll get denied for a bank account payday loan iowa.