If you’ve had trouble opening a checking account because of past banking issues, you’re not alone. ChexSystems tracks unpaid fees, overdrafts, and closed accounts, and those records can stay on file for up to five years.
This can make getting approved for new accounts difficult, but not every financial institution relies on ChexSystems. Some offer second chance accounts or skip it altogether, giving you a fair chance to start fresh.
How ChexSystems Can Affect Your Banking Options
Having a ChexSystems record can limit your ability to open a checking account at most traditional banks and credit unions. About 80% of them use ChexSystems when reviewing applications, which often leads to denials for people with past banking challenges.
Still, plenty of financial institutions are more flexible. Some skip ChexSystems entirely or offer checking accounts designed to help customers rebuild their banking history and restore access to financial services.
Acorns’ ChexSystems Policy
Acorns does not use ChexSystems when evaluating new applicants. That means any negative marks on your ChexSystems report won’t prevent you from opening an account.
This makes Acorns a solid option if you’ve been turned down elsewhere. Along with skipping ChexSystems, Acorns offers automatic savings tools and investing features that help you grow your money while managing everyday spending.
Other Banks That Don’t Use ChexSystems
While Acorns is an excellent choice, several other banks also let you open an account without ChexSystems. These options make it easy to manage your money, access direct deposit, and rebuild your financial footing.
SoFi
- Up to $300 sign-up bonus with direct deposit
- No minimum opening deposit
- Earn up to 3.60% 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
Chime
- Up to 3.75% APY on a high-yield savings account
- Over 47,000+ fee-free ATMs
- Up to $200 fee-free overdraft coverage
- Get paid up to 2 days early with direct deposit
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.
