Getting denied for a checking account can feel discouraging, especially when you’re trying to rebuild your finances. Many banks rely on ChexSystems, a consumer reporting agency that tracks banking issues like unpaid fees, overdrafts, and closed accounts.
These records can stay on your file for up to five years, which can make it harder to open new accounts while they remain active.
How ChexSystems Affects Your Banking Access
Roughly 80% of banks and credit unions in the U.S. use ChexSystems to screen new applicants. If your record includes negative activity, you may face denials or restrictions when applying for a checking account.
That said, some banks don’t use ChexSystems at all, and others offer second chance checking accounts designed to help people rebuild their financial history and restore access to traditional banking.
Commerce Bank’s Policy on ChexSystems
Commerce Bank does review ChexSystems reports when evaluating new checking account applications. If your file includes unpaid fees, overdrafts, or account closures, your application may not be approved.
In addition, Commerce Bank doesn’t currently offer a second chance checking account, which can make it harder for applicants with negative records to qualify.
Alternatives to Commerce Bank That Don’t Use ChexSystems
If Commerce Bank’s policy makes opening an account difficult, there are other options that don’t rely on ChexSystems for approval. Consider these trusted alternatives:
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
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.
