If you’ve been denied a checking account due to a negative banking history, you may be feeling frustrated and unsure of your next steps. ChexSystems is a consumer reporting agency that tracks negative banking activity, such as overdrafts, unpaid fees, and account closures. This information can remain on your report for up to five years, limiting your ability to open new accounts during that time.
The Role of ChexSystems in Banking
Approximately 80% of banks and credit unions in the U.S. use ChexSystems to evaluate potential customers. A negative report can result in your application being denied, making it harder to find a financial institution willing to open a new account for you. Despite this, not all banks rely on ChexSystems. Some banks even offer second-chance accounts designed specifically for individuals who have had previous banking challenges.
Connexus and ChexSystems
The good news is that Connexus does not use ChexSystems when reviewing applications for checking accounts. This opens up opportunities for individuals with a negative ChexSystems report to still gain access to traditional banking services through Connexus.
Connexus offers various checking account options without the restrictions that come with ChexSystems checks. Whether you’re looking for a basic checking account or one with more features, Connexus provides accessible options for those seeking to rebuild their financial standing.
Other ChexSystems-Free Banks
If Connexus doesn’t seem like the right fit for you, there are other banks and credit unions that also don’t rely on ChexSystems. Here are some strong alternatives to consider:
U.S. Bank
- Up to $450 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 4.20% 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.
Crediful is your go-to destination for all things related to personal finance. We're dedicated to helping you achieve financial freedom and make informed financial decisions. Our team of financial experts and enthusiasts brings you articles and resources on topics like budgeting, credit, saving, investing, and more.