If you’ve been denied a checking account because of past banking issues, you’re not alone. Many people experience this after overdrafts, unpaid fees, or account closures appear on their record.
Even if traditional banks have turned you down, there are still ways to rebuild your financial standing and access reliable banking services.
How ChexSystems Can Limit Account Approvals
ChexSystems is a consumer reporting agency that tracks specific banking behaviors such as overdrafts, unpaid fees, and closed accounts. Negative information can remain on your ChexSystems report for up to five years, which may make it harder to open new accounts.
Since about 80% of banks and credit unions in the United States use ChexSystems, one negative record can affect your chances of being approved at many financial institutions.
First National Bank’s ChexSystems Policy Explained
First National Bank uses ChexSystems when reviewing new account applications. If your ChexSystems report shows negative information such as overdrafts or unpaid balances, it could affect your ability to open a checking or savings account.
In addition, First National Bank does not offer a second chance checking account, which means applicants with a negative banking record may have difficulty opening an account.
What to Do If You’ve Been Denied a Checking Account
If your ChexSystems record is causing problems, you still have alternatives. Many financial institutions either skip ChexSystems completely or offer special accounts that help people rebuild their banking history.
These accounts often include standard features such as direct deposit, debit cards, and mobile banking, allowing you to manage your money responsibly while improving your record over time.
Best Alternatives to First National Bank
If First National Bank’s ChexSystems policy prevents you from opening an account, there are several other banks that can help you start fresh and get approved quickly.
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.
