Getting turned down for a checking account can be discouraging, especially when you’re trying to rebuild your finances. The good news is that you still have plenty of banking options designed to help you move forward.
Regions Bank is a well-known regional bank that serves customers across the South and Midwest. It offers a wide range of personal and business banking services, but like most traditional banks, it has specific screening practices in place for new account applicants.
How ChexSystems Affects Banking Access
ChexSystems is a consumer reporting agency that tracks certain types of banking activity, including overdrafts, unpaid fees, and closed accounts. These records can stay on your file for up to five years, and about 80% of banks and credit unions in the United States use this system when deciding whether to approve new accounts.
If your ChexSystems record includes negative marks, such as unpaid balances or frequent overdrafts, that information can make it difficult to open a new checking account. Some institutions provide second chance options to help customers rebuild their banking history, but not all banks offer that opportunity.
Regions Bank’s ChexSystems Policy
Regions Bank does use ChexSystems when reviewing new checking account applications. If your record shows unpaid fees or past account closures, your application could be declined.
At this time, Regions Bank does not offer a second chance checking account, which may make it harder to open an account if you’ve had banking problems in the past.
Better Banking Alternatives
If Regions Bank’s policy creates a roadblock, there are other financial institutions that can help you open an account with fewer restrictions. These banks focus on accessibility, fast approval, and modern features that make everyday banking simple.
SoFi
- Up to $300 sign-up bonus with direct deposit
- No minimum opening deposit
- Earn up to 3.80% 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.
