If you’ve had trouble opening a checking account because of past banking issues, you’re not the only one. Overdrafts, unpaid fees, and account closures can make it harder to get approved by many banks.
Even if your history has caused setbacks, there are still financial institutions that give people a chance to rebuild and move forward.
Why ChexSystems Matters for Account Approvals
ChexSystems is a consumer reporting agency that tracks certain banking activities, including overdrafts, unpaid fees, and account closures. Negative marks can stay on your ChexSystems report for up to five years, which can make it more difficult to open new accounts.
Since about 80% of banks and credit unions in the United States use ChexSystems, even one negative entry can create challenges when applying for new accounts.
Texas Capital Bank’s ChexSystems Policy Explained
Texas Capital Bank does use ChexSystems when reviewing new account applications. If your ChexSystems report contains negative information, such as unpaid fees or repeated overdrafts, it may affect your approval for a checking or savings account.
In addition, Texas Capital Bank does not offer a second chance checking account, which makes it harder for customers with a negative banking record to open an account.
What You Can Do If You’ve Been Denied
Being turned down for a checking account can feel discouraging, but it doesn’t mean you’re stuck. Many banks and credit unions do not use ChexSystems at all, and some provide programs designed for people who are rebuilding their financial record.
These options typically include direct deposit, debit card access, and online banking, giving you a way to manage your money while improving your financial stability.
Banks That Don’t Use ChexSystems
If Texas Capital Bank isn’t a fit, here are a few banking options that welcome customers with previous banking challenges.
SoFi
- Up to $300 sign-up bonus with direct deposit
- No minimum opening deposit
- Earn up to 3.60% 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.
