Being denied a checking account can throw a wrench in your plans. Maybe you’ve paid off old fees or closed past accounts, but your record still follows you. That’s where ChexSystems comes in—it’s the database most banks check before giving you a new start.
ChexSystems keeps track of things like overdrafts, unpaid balances, and closed accounts. Once something appears there, it can stay for up to five years, which can make it harder to get approved even when you’ve moved on from those mistakes.
How ChexSystems Can Limit Your Banking Options
Nearly 8 out of 10 banks and credit unions in the U.S. use ChexSystems to decide who qualifies for new accounts. One bad entry can block access to the most basic financial services—checking, saving, even direct deposit.
It’s not all bad news, though. Some banks and credit unions skip ChexSystems altogether, while others offer second chance accounts that help you rebuild your record without starting from zero.
East West Bank’s Policy on ChexSystems
East West Bank does use ChexSystems when reviewing new checking account applications. That means a negative record—like unpaid overdrafts or account closures—can lead to a denial.
If that’s the case, you’re far from stuck. There are banks that don’t rely on ChexSystems at all, giving you a clean slate and the freedom to manage your money again without old mistakes standing in your way.
Better Options for a Fresh Start
If East West Bank isn’t the right fit, here are a few banks that don’t use ChexSystems and welcome new customers with a more flexible approval process:
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.
