Have you been denied a checking account because of a negative banking history? If so, you’re not alone, but there are still plenty of options available that can help you get back on track.
ChexSystems is a consumer reporting agency that tracks certain banking behaviors, such as overdrafts, unpaid fees, or account closures. A record in ChexSystems can stay active for up to five years, potentially affecting your ability to open new accounts. Since about 80% of U.S. banks and credit unions use ChexSystems, this can be a significant barrier for many people.
Regions Bank’s ChexSystems Policy
If you’re considering applying for a checking account with Regions Bank, you should be aware that they do use ChexSystems when reviewing applications. If your report includes negative information, such as unpaid fees or overdrafts, it could impact your chances of being approved for an account.
Overcoming ChexSystems Challenges
While ChexSystems can make it more difficult to open a traditional bank account, there are still other banking options available. Some banks and credit unions don’t rely on ChexSystems for their account approval process, offering opportunities for individuals to rebuild their financial standing.
Alternatives to Regions Bank That Don’t Use ChexSystems
If Regions Bank’s use of ChexSystems poses an obstacle, there are other banks and credit unions that don’t rely on ChexSystems for account approval. Here are three excellent alternatives to explore:
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
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
Chime
- Up to 3.75% APY on a high-yield savings account
- Over 60,000+ 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.
