If you’ve been denied a checking account because of a negative banking record, you’re not alone. Many people run into this challenge and start searching for banks or credit unions that offer easier approval.
BECU, also known as Boeing Employees’ Credit Union, is one of the largest credit unions in the United States. While it offers excellent member benefits and low fees, it does use ChexSystems when reviewing new applications. Here’s what that means and where you can still open an account if you’ve had problems in the past.
How ChexSystems Affects Your Banking Options
ChexSystems is a consumer reporting agency that tracks banking activities such as unpaid fees, overdrafts, and closed accounts. This information can stay on file for up to five years, and most financial institutions review it when deciding whether to approve a new account.
Roughly 80% of banks and credit unions across the country rely on ChexSystems to assess risk before opening new accounts. A negative record can lead to declined applications and limited access to traditional banking. Some financial institutions offer second chance accounts to help rebuild your banking history, but not all provide that opportunity.
BECU’s ChexSystems Policy
BECU does use ChexSystems when evaluating checking account applications. If your record includes unpaid fees, overdrafts, or closed accounts, your application may be denied.
At this time, BECU does not offer a second chance checking account, which can make it harder for those with a negative banking history to get approved.
Better Banking Alternatives
If BECU’s ChexSystems policy is keeping you from opening an account, you still have other options. Several online banks and fintech companies provide simple approval, modern digital tools, and flexible features that help you rebuild your financial foundation.
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.
