Does Peoples Bank Use ChexSystems?

Several banks use the name Peoples Bank, so it’s easy to end up reading account information for the wrong institution. This article covers Peoples Bank, the regional bank with locations across Ohio, West Virginia, Kentucky, Virginia, Maryland, and Washington, D.C.

Past overdrafts, unpaid balances, and account closures may affect your application even when your credit score is in good shape. Here’s how Peoples Bank reviews new customers and what you should check before applying.

Peoples Bank Uses ChexSystems

Peoples Bank uses ChexSystems when it reviews checking account applications. Negative information in your ChexSystems consumer report may cause the bank to deny your application.

The bank may look at the type of problem, how recently it occurred, and whether you still owe money. An older paid overdraft may receive different treatment from recent suspected fraud or an unpaid balance.

Peoples Bank doesn’t publish a list of ChexSystems records that always cause a denial. The bank may also review your identification and other application details before making a decision.

What Could Affect Your Approval?

Recent and unresolved records may create the biggest problems. Peoples Bank may pay attention to:

• Unpaid balances: Money owed to another bank or credit union may reduce your approval chances.
• Suspected fraud: Fraud warnings or identity concerns may lead to a denial.
• Forced account closures: An account closed by another financial institution may raise concerns.
• Repeated overdrafts: Several unpaid overdrafts may show a pattern of account problems.
• Returned payments: A history of returned checks or electronic payments may affect the review.
• Debt owed to Peoples Bank: An unpaid balance from an earlier Peoples Bank account may need to be resolved first.

The bank may also decline your application when it can’t confirm your name, address, Social Security number, or identification.

Personal Checking Is the Basic Account Option

Peoples Bank Personal Checking is designed for everyday banking. It requires a $25 opening deposit and has a $6 monthly maintenance fee.

You can avoid the fee by meeting one of these requirements during each monthly account cycle:

• Minimum balance: Maintain a daily balance of at least $500.
• Direct deposits: Receive qualifying direct deposits totaling at least $1,000.
• Debit card purchases: Complete at least 10 debit card purchases, excluding ATM transactions.

The account includes online banking, mobile check deposits, electronic statements, bill pay, Zelle, account alerts, and debit card controls.

Personal Checking may be affordable if you can meet one of the fee-waiver requirements. Its account terms don’t change the bank’s ChexSystems review.

Premier Checking Requires a Larger Relationship

Peoples Bank also offers Premier Checking for customers who keep larger balances with the bank.

The account requires $25 to open and has a $20 monthly maintenance fee. Peoples Bank waives the fee when you maintain at least $25,000 across qualifying personal accounts.

Premier Checking may offer added banking benefits, but it probably won’t make sense if you only need a basic checking account. Keeping $25,000 at the bank solely to avoid a monthly fee may not be practical.

A larger balance also won’t improve your chances when your ChexSystems consumer report contains serious unresolved problems.

Peoples Bank Doesn’t Offer Clear Second Chance Checking

Peoples Bank doesn’t currently advertise a checking account with separate second chance approval rules.

Personal Checking has a modest opening deposit, but that doesn’t mean the bank overlooks negative ChexSystems information. Low-cost checking describes the account’s fees. Second chance checking describes an account with more flexible approval standards.

Call Peoples Bank before applying when your ChexSystems consumer report contains recent suspected fraud, an unpaid bank balance, or several forced closures. Ask whether the bank considers older or paid entries.

Make sure you contact the correct Peoples Bank. Several unrelated financial institutions use the same or a similar name.

Check Your ChexSystems Consumer Report Before Applying

Review your ChexSystems consumer report before Peoples Bank checks it.

Look for:

• Unknown accounts: An account you don’t recognize may be connected to identity theft.
• Incorrect balances: Confirm that every reported amount is accurate.
• Paid debts shown as unpaid: A resolved balance should have the correct status.
• Wrong closure reasons: Check whether the former financial institution described the closure correctly.
• Incorrect dates: A reporting error may make an older problem appear recent.

Accurate negative records can usually remain for five years. Paying a valid balance normally won’t remove the entry early, but the status should show that the debt has been paid.

Dispute information that’s inaccurate or incomplete. Include bank statements, payment receipts, or identity theft records that support your claim.

What to Do if Peoples Bank Denies You

Ask whether ChexSystems affected the decision. When information from a consumer reporting company contributes to a denial, Peoples Bank should provide a notice that identifies the company.

Request your consumer report and review the entry that caused the problem. Dispute it when the information is wrong.

When the record is accurate, contact the financial institution that reported it and ask how to pay any outstanding balance. Wait until the record is updated before submitting another application.

You can also consider a bank that doesn’t use ChexSystems or one that offers clear second chance checking requirements.

Best Alternatives to Peoples Bank That Don’t Use ChexSystems

If you’ve been denied a checking account at Peoples Bank, you still have some solid options. These banks make it easy to open an account without ChexSystems approval.

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 450 banks that offer second chance checking accounts.