Have you been denied a checking account due to a negative banking history? If so, don’t worry—there are still plenty of options out there to explore that can help you get back on track.
ChexSystems is a consumer reporting agency that monitors your banking activities, such as overdrafts, unpaid fees, and closed accounts. A record in ChexSystems can remain for up to five years, and with roughly 80% of banks and credit unions in the U.S. using this system, it can be difficult to open a new account.
Navy Federal Credit Union and ChexSystems
If you’re thinking about opening a checking account with Navy Federal Credit Union (NFCU), you’ll be pleased to know they do not use ChexSystems to evaluate account applications. This means that if you’ve had past issues with other financial institutions, your ChexSystems record won’t stop you from getting an account with Navy Federal.
Looking Beyond Navy Federal Credit Union
While Navy Federal Credit Union is an excellent option, it’s not the only financial institution that doesn’t rely on ChexSystems. Several other banks and credit unions also skip ChexSystems in their approval process. Here are some other great alternatives:
U.S. Bank
- Up to $400 sign-up bonus
- $25 minimum opening deposit
- Monthly service fee can be waived
- Over 40,000 fee-free ATMs
SoFi
- Up to $300 sign-up bonus with direct deposit
- No minimum opening deposit
- Earn up to 4.50% 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
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.
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