Have you encountered difficulties in obtaining a checking account due to a negative banking history? If so, you’re not alone—but the good news is that there are banking solutions that can help you, even if you’ve been turned down by traditional banks.
ChexSystems is a consumer reporting agency that tracks certain banking behaviors, such as unpaid fees, overdrafts, and account closures. These records can stay on your report for up to five years, making it more difficult to open new accounts. Since about 80% of banks and credit unions in the U.S. use ChexSystems, this can create a challenge for individuals with a troubled banking past.
Citizens Trust Bank’s ChexSystems Policy
If you’re considering opening a checking account with Citizens Trust Bank, be aware that they do use ChexSystems to screen applicants. This means that if your ChexSystems report includes negative information, it could impact your chances of being approved for an account.
How ChexSystems Affects Your Banking Access
A ChexSystems record can limit your ability to open a new checking account at many financial institutions. However, not all banks and credit unions use ChexSystems. Some institutions offer second chance accounts, providing you with a fresh opportunity to rebuild your financial standing.
Alternatives to Citizens Trust Bank That Don’t Use ChexSystems
If Citizens Trust Bank’s use of ChexSystems is a concern, don’t worry—there are several other banks and credit unions that don’t rely on ChexSystems for account approval. Here are three excellent alternatives to consider:
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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