If you’ve been denied a checking account because of a negative banking history, it’s important to know that you’re not alone and that alternatives exist. ChexSystems is a consumer reporting agency that tracks banking activities such as unpaid fees, overdrafts, and account closures. Records with ChexSystems can remain active for up to five years, which may make it difficult to open new accounts during that period.
How ChexSystems Affects Your Banking Options
Approximately 80% of banks and credit unions in the U.S. rely on ChexSystems to screen new account applications. A negative report can result in denied applications, limiting your access to traditional banking services. However, not all financial institutions use ChexSystems. Some offer “second chance” accounts designed to help individuals rebuild their banking history and regain access to essential financial services.
NBKC Bank’s ChexSystems Policy
NBKC Bank does use ChexSystems when reviewing applications for checking accounts. This means that if you have a negative ChexSystems report, your application might be declined. While this can be a setback, remember that other banks and credit unions do not rely on ChexSystems and can offer you the opportunity to open a checking account.
If NBKC Bank’s ChexSystems policy doesn’t work for you, the following alternatives can provide the banking services you need without the barriers imposed by a negative ChexSystems report:
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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