If you’ve been denied a checking account because of past banking problems, you’re not alone. Overdrafts, unpaid fees, or closed accounts can make it harder to get approved for a new one.
Some banks are more flexible and can help you rebuild your financial record, even if you’ve had trouble opening accounts in the past.
How ChexSystems Can Affect Account Approvals
ChexSystems is a consumer reporting agency that tracks certain banking behaviors such as unpaid fees, overdrafts, and account closures. Negative records can remain on your ChexSystems report for up to five years and may limit your ability to open new accounts.
Since about 80% of banks and credit unions use ChexSystems, one negative record can make it difficult to start fresh at another financial institution.
First Convenience Bank’s ChexSystems Policy Explained
First Convenience Bank does not use ChexSystems when reviewing new account applications. This makes it a practical choice for people who have been denied elsewhere because of past banking issues.
By skipping ChexSystems, First Convenience Bank gives more customers the opportunity to open accounts and manage their finances without the screening restrictions used by other banks.
Why First Convenience Bank Is a Good Option for Rebuilding
First Convenience Bank’s inclusive approach gives people access to essential banking features such as direct deposit, debit cards, and online account management. It is a convenient option for customers who prefer in-person service since branches are often located inside grocery stores and retail centers.
If you have struggled with banking in the past, this type of accessibility can make it easier to rebuild trust with your finances.
Other Banks That Don’t Use ChexSystems
While First Convenience Bank is an excellent choice, several other banks also avoid ChexSystems and make it simple to open a new account.
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.
