Banking And Credit Checks

[ggbwg]

Are there any banks out there that do not do credit checks to start a checking account? It seems almost all but US bank does credit checks where i live. I hate US bank. Laura

[Mathew Green]

Re: Banking And Credit Checks

Are there any banks out there that do not do credit checks to start a checking account? It seems almost all but US bank does credit checks where i live. I hate US bank. Laura

Federal law says the bank has to establish your true identity when you open an account. That's to prevent money laundering and for various other purposes. One of the ways banks verify your identity is by pulling a credit report to see if the information you gave them matches.

Banks also have a legitimate interest in the credit history of anyone who opens a checking account because bad check artists cost banks a lot of money and agravation. Pulling a credit report helps them weed out the bad apples.

Why the concern over this routine proceedure?