If you’ve had problems opening a checking account because of past banking issues, you’re not alone. Many banks check your history through ChexSystems before approving new accounts.
ChexSystems tracks negative activity like overdrafts, unpaid fees, and closed accounts. These records can remain on your file for up to five years, which often makes it harder to open new accounts in that period.
How ChexSystems Can Limit Your Banking Options
Roughly 80% of banks and credit unions in the U.S. use ChexSystems when screening new applicants. If your record includes negative entries, your application could be denied.
Still, some financial institutions don’t rely on ChexSystems, and a few even offer second chance accounts that help people rebuild their banking record and regain access to standard services.
Fidelity Bank’s Policy on ChexSystems
Fidelity Bank (the regional bank with branches in states like Georgia, Louisiana, and Massachusetts) does use ChexSystems when reviewing new checking account applications. If your record includes unpaid fees, overdrafts, or closed accounts, that information could affect your approval.
However, it’s important not to confuse Fidelity Bank with Fidelity Investments, the investment management firm. Fidelity Investments offers a Fidelity Cash Management Account, which acts like a checking account but is opened through a brokerage platform—not a traditional bank. These accounts do not use ChexSystems and don’t require a traditional credit check to open.
Banks and Accounts That Don’t Use ChexSystems
If you want to explore more options like the Fidelity Cash Management Account, here are a few other banks that don’t rely on ChexSystems:
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.
