If you’ve found it challenging to get approved for a checking account due to a negative banking history, you’re not alone. ChexSystems is a consumer reporting agency that tracks banking activities such as unpaid fees, overdrafts, and account closures. These records can remain on file for up to five years, making it difficult to open new accounts during that period.
How ChexSystems Impacts Your Banking Options
Approximately 80% of banks and credit unions in the United States rely on ChexSystems to screen new account applications. A negative report can lead to denied applications, limiting your access to traditional banking services.
However, not all financial institutions use ChexSystems. Some offer “second chance” accounts designed to help individuals rebuild their banking history and regain access to essential financial services.
Bank of the West’s ChexSystems Policy
Bank of the West does use ChexSystems when reviewing applications for checking accounts. If your ChexSystems report contains negative information, your application may be declined. Unfortunately, Bank of the West does not currently offer a second chance checking account, which can make it challenging for those with past banking issues to open an account with them.
While this may be discouraging, there are still options available, consider exploring other financial institutions that don’t use ChexSystems:
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 60,000+ fee-free ATMs
- Up to $200 fee-free overdraft coverage
- Get paid up to 2 days early with direct deposit
SoFi
- Up to $300 sign-up bonus with direct deposit
- No minimum opening deposit
- Earn up to 3.80% APY
- Over 55,000 fee-free ATMs
- Early pay 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.
