If you’ve had difficulty opening a checking account due to past banking issues, finding a bank that works with your situation can be challenging. ChexSystems tracks activities like unpaid fees, overdrafts, or closed accounts, and these records can remain on file for up to five years, making it difficult to get approved for new accounts.
The Role of ChexSystems in Banking Access
About 80% of banks and credit unions in the U.S. use ChexSystems to assess new account applications. If your ChexSystems report includes negative entries, it could prevent you from opening a checking account. Fortunately, not every bank relies on ChexSystems, and some financial institutions offer second chance accounts to help people with a challenging banking history start fresh.
How 1st Convenience Bank Approaches Account Applications
1st Convenience Bank does not use ChexSystems when reviewing applications for checking accounts. This makes them a great option for people who have struggled with their banking history and need a fresh start without the restrictions posed by ChexSystems.
Additional Banks That Don’t Rely on ChexSystems
Although 1st Convenience Bank is a solid option, there are other banks and credit unions that provide similar flexibility. If you’re looking for more choices, here are a few alternatives worth considering:
U.S. Bank
- Up to $400 sign-up bonus
- $25 minimum opening deposit
- Monthly service fee can be waived
- Over 40,000 fee-free ATMs
SoFi
- Up to $300 sign-up bonus with direct deposit
- No minimum opening deposit
- Earn up to 4.30% APY
- Over 55,000 fee-free ATMs
- Early pay with direct deposit
Current
- Build credit and earn points with every swipe
- No minimum opening deposit or maintenance fees
- Get paid up to 2 days faster
- No credit check or ChexSystems
Learn More
- Banks That Don’t Use ChexSystems – Take the first step to rebuilding your banking history with our list of banks that do not use ChexSystems for account approval.
- Credit Unions That Don’t Use ChexSystems – Find a credit union that will work with you, not against you. Learn about the credit unions that don’t use ChexSystems.
- Am I in ChexSystems? – Unsure if you’re in ChexSystems? Learn how to find out and take control of your financial status.
- How to Get Out of ChexSystems – Learn how to get out of ChexSystems in four simple steps.
- Second Chance Checking Accounts – Take control of your financial future with our list of over 250 banks that offer second chance checking accounts.
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