Getting denied for a checking account can feel like a setback, but it doesn’t mean you’re out of options. Many banks and credit unions now make it easier to open an account, even if you’ve faced challenges in the past.
First Horizon Bank is a well-established regional bank serving customers across the South. It offers a wide range of banking products, including checking, savings, and business accounts. Before applying, it’s important to understand how First Horizon evaluates new account applications and what that means for you.
How ChexSystems Impacts Account Approvals
ChexSystems is a consumer reporting agency that tracks certain banking activity, such as overdrafts, unpaid fees, and closed accounts. These records can stay active for up to five years, and about 80% of banks and credit unions in the U.S. use this information when reviewing new account applications.
If your record shows negative entries, such as unpaid balances or account closures, it could make it harder to open a new account. This often limits access to basic financial tools like debit cards, direct deposit, and mobile banking. However, not every financial institution relies on ChexSystems, and several offer easy approval options to help you start fresh.
First Horizon Bank’s ChexSystems Policy
First Horizon Bank does use ChexSystems when reviewing new checking account applications. If your record includes negative marks like overdrafts or unpaid fees, it may affect your ability to open an account.
At this time, First Horizon does not offer a second chance checking account, which may make approval difficult if your ChexSystems report has negative activity.
Banks That Don’t Use ChexSystems
If First Horizon’s ChexSystems policy is creating a roadblock, there are other banks that provide simpler, more accessible banking options. These institutions focus on convenience, quick approval, and flexible account management.
SoFi
- Up to $300 sign-up bonus with direct deposit
- No minimum opening deposit
- Earn up to 3.60% 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.
