If you’ve been denied a checking account due to a negative banking history, you’re not alone. Many people face challenges opening new accounts after past banking issues, such as unpaid fees or overdrafts.
ChexSystems is a consumer reporting agency that tracks this kind of banking behavior, and negative reports can remain on file for up to five years, making it harder to secure new financial services during that time.
How ChexSystems Impacts Your Banking Options
Around 80% of U.S. banks and credit unions use ChexSystems to screen applicants for checking and savings accounts. A negative ChexSystems report can lead to denied applications, leaving you with limited access to traditional banking services.
While this can be frustrating, it’s important to know that not all financial institutions rely on ChexSystems. Some offer “second chance” accounts, specifically designed for individuals who need another opportunity to manage their banking responsibly.
Old National Bank’s ChexSystems Policy
Unfortunately, Old National Bank does use ChexSystems to review checking account applications. If you have a negative ChexSystems report, your application may be denied. This can be a barrier for those looking to rebuild their banking history with Old National Bank.
Alternatives to Old National Bank That Don’t Use ChexSystems
If Old National Bank doesn’t work for you, there are many other banks and credit unions that don’t rely on ChexSystems. These financial institutions provide excellent alternatives for individuals looking to open an account without the restrictions of a ChexSystems report. Here are some great options to choose from:
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 4.30% 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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