If you’ve been denied a checking account in the past, you know how discouraging it can be. The key is knowing which banks are more flexible so you can find one that fits your situation.
Truist is one of the largest banks in the United States. Like many traditional banks, Truist uses ChexSystems to review checking account applications. Here’s how that affects new customers and what you can do if you’ve had problems in the past.
How ChexSystems Influences Account Approvals
ChexSystems is a consumer reporting agency that keeps track of banking activity such as overdrafts, unpaid fees, and account closures. Records can remain active for up to five years, and roughly 80% of banks and credit unions in the U.S. rely on this data when evaluating new account applications.
A negative ChexSystems record can lead to declined applications and limited access to checking or savings accounts. Some institutions provide second chance accounts to help rebuild your banking history, but Truist does not currently offer one.
Truist’s ChexSystems Policy
Truist does use ChexSystems when reviewing checking account applications. If your record includes unpaid balances, charge-offs, or account closures, it may affect your eligibility.
Because Truist does not offer a second chance account, applicants with negative banking histories may need to look elsewhere for approval.
Banks That Don’t Depend on ChexSystems
If Truist’s use of ChexSystems prevents you from opening an account, there are other financial institutions that provide an easier path forward. These options focus on accessibility, modern features, and faster approval—without the traditional screening barriers.
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.
