Getting denied for a checking account can feel discouraging, especially if you’re trying to rebuild your finances. Many banks rely on ChexSystems to screen applicants, which can make things even tougher.
ChexSystems collects data on your banking activity, such as overdrafts, unpaid fees, and account closures. These records can stay on file for up to five years and are often used by banks and credit unions when deciding whether to approve new accounts.
How ChexSystems Can Limit Your Banking Access
About 80% of banks and credit unions in the United States use ChexSystems to evaluate new customers. If your record includes negative marks, your application could be denied, limiting access to standard checking and savings accounts.
This can make managing your money harder, but not every bank depends on ChexSystems. Some offer second chance checking accounts or skip ChexSystems altogether, giving you another path to rebuild your banking record.
Barclays’ Policy on ChexSystems
Barclays uses ChexSystems when reviewing applications for checking accounts. If your ChexSystems file includes unpaid balances, overdrafts, or other negative activity, your application may not be approved.
At this time, Barclays does not offer a second chance checking account, which makes opening an account difficult for those with past banking issues.
Alternatives to Barclays That Don’t Use ChexSystems
If Barclays isn’t the right fit, there are other banks and credit unions that can help you get back into the financial system without relying on ChexSystems. Here are a few to explore:
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.
