If you’ve been denied a checking account because of past banking problems, you’re not alone. Many people face this issue after overdrafts, unpaid fees, or account closures appear on their record.
Even if another bank has turned you down, you still have options. Some banks—including TD Bank—are more flexible when it comes to approving new accounts.
What ChexSystems Is and Why It Matters
ChexSystems is a consumer reporting agency that tracks specific banking activity, such as unpaid overdrafts, returned checks, or accounts closed for nonpayment. These records can stay on your ChexSystems report for up to five years and may affect your ability to open new accounts.
Because around 80% of banks and credit unions in the United States use ChexSystems, one negative record can make it harder to start fresh with another financial institution.
TD Bank’s ChexSystems Policy
TD Bank does not use ChexSystems when reviewing checking account applications. This makes it a strong choice if you’ve had previous banking challenges or have been denied elsewhere.
Instead of relying on ChexSystems, TD Bank looks at other factors when approving new accounts, which gives you a better chance to reenter the banking system and start rebuilding your financial stability.
Why TD Bank Can Be a Smart Option
By skipping ChexSystems, TD Bank allows more people to open checking and savings accounts—even with past financial issues. That flexibility can help you get back on track with essential services like direct deposit, online bill pay, and debit card access.
It’s also one of the few national banks with both physical branches and modern online tools, offering a balance of convenience and accessibility.
Best Alternatives to TD Bank That Don’t Use ChexSystems
While TD Bank is an excellent option, it’s not your only one. Several other banks and credit unions also skip ChexSystems or make it easier to qualify for a new account. Here are three of the best alternatives.
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.
