If you’ve been denied a checking account because of a negative ChexSystems record, you’re likely frustrated by the limited options available. ChexSystems tracks your banking history and flags any negative activity like bounced checks, unpaid overdraft fees, or account closures. These reports can stay active for up to five years and make it difficult to open new accounts.
How ChexSystems Affects Your Banking Options
ChexSystems is used by about 80% of all banks and credit unions in the U.S. to screen potential customers. This can make it challenging to open a checking or savings account if you have a negative mark on your report. Once you’re flagged, banks may view you as a risk, leading to account denials.
However, not all financial institutions rely on ChexSystems. Some banks offer “second-chance” accounts designed for individuals with a poor banking history, while others, like Credit Union One, don’t use ChexSystems at all.
Credit Union One: A ChexSystems-Free Bank
Credit Union One is a great option if you’re looking for a financial institution that doesn’t use ChexSystems when reviewing applications for checking or savings accounts. This means that even with a negative ChexSystems record, you may still be eligible to open an account.
Credit Union One offers various account types designed to meet different financial needs, including basic checking and savings accounts, as well as more specialized products for students, businesses, and individuals looking for additional benefits such as rewards or higher interest rates.
In addition to their flexible account options, Credit Union One provides easy online banking, mobile app access, and a wide network of ATMs. This makes it a convenient choice for those who have had trouble opening accounts at other institutions due to a negative banking history.
Other Banks That Don’t Use ChexSystems
While Credit Union One is a solid choice, there are other financial institutions that also don’t rely on ChexSystems for account approval. These banks offer competitive features and benefits, making them worth considering:
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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