Getting denied for a checking account can feel like a major setback, especially when you’re trying to rebuild your finances. The good news is that several banks make it possible to open an account, even if your record with other institutions isn’t spotless.
Frost Bank is a long-standing Texas-based bank known for its customer service and commitment to community banking. It offers a wide range of products, including checking, savings, and business accounts, but it’s important to understand how the bank reviews new applications before you apply.
How ChexSystems Can Affect Banking Access
ChexSystems is a consumer reporting agency that tracks certain banking activity, such as overdrafts, unpaid fees, and account closures. These records can stay active for up to five years, and about 80% of banks and credit unions in the U.S. rely on this system to evaluate new account applications.
If your ChexSystems record contains negative marks, it can make it more difficult to open a new account, which limits your access to services like direct deposit and debit card use. However, not every bank depends on ChexSystems, and there are many institutions that focus on helping people regain access to traditional financial tools.
Frost Bank’s ChexSystems Policy
Frost Bank does use ChexSystems when reviewing new checking account applications. If your report includes unpaid balances, overdrafts, or closed accounts, it could impact your ability to get approved.
At this time, Frost Bank does not offer a second chance checking account, so those with negative records may need to consider other options.
Banks That Don’t Use ChexSystems
If ChexSystems is preventing you from opening an account with Frost Bank, there are other financial institutions that make it easier to get started. These options emphasize quick approval, minimal requirements, and helpful tools to manage your money.
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.
