A past checking account problem can affect your next application even when your credit score is fine. Banks may review unpaid balances, forced account closures, suspected fraud, and other deposit account history.
Truist offers two main personal checking options. One has no overdraft fees and a lower monthly charge, but applicants still have to pass the bank’s account review.
Truist Uses ChexSystems
Truist uses ChexSystems when it reviews checking account applications. Negative information in your ChexSystems consumer report may lead to a denial.
The bank may consider the type of record, how recently it happened, and whether you still owe money. A paid overdraft from several years ago may receive different treatment from recent fraud or an unpaid balance.
Truist doesn’t publish a list of records that always cause a denial. The bank may also use other services to verify your identity and review the information in your application.
Which Records Could Affect Your Application?
Recent and unresolved banking problems may cause the most trouble.
Truist may pay attention to:
- Unpaid balances: Money owed to another bank or credit union may reduce your approval chances.
- Suspected fraud: Fraud warnings or identity concerns may lead to a denial.
- Forced account closures: An account closed by another financial institution may raise concerns.
- Repeated overdrafts: Several unpaid overdrafts may show a pattern of account problems.
- Returned payments: A history of returned checks or electronic payments may affect the review.
- Money owed to Truist: An unpaid balance from a prior Truist account may need to be resolved first.
Truist may also decline an application when it can’t confirm your name, address, Social Security number, or identification.
Truist Confidence Has No Overdraft Fees
The Truist Confidence Account is a checkless account that doesn’t charge overdraft fees. Transactions that exceed your balance will usually be declined instead of paid.
The account requires $25 to open and has a $5 monthly maintenance fee. Truist waives the fee when you meet one of several requirements:
- Receive at least $500 in total deposits during the statement cycle
- Make at least 10 qualifying transactions
- Qualify as a student
- Be under 25 or at least 62
The account includes a debit card, mobile check deposits, online bill pay, Zelle, account alerts, and access to Truist ATMs.
Truist Confidence has Bank On certification, which means it meets national standards for low-cost, consumer-friendly accounts. It doesn’t mean Truist skips ChexSystems or guarantees approval.
Is Truist Confidence a Second Chance Account?
Truist promotes Confidence as an account for customers who want tighter control over spending. Its checkless design and lack of overdraft fees may help someone avoid the problems that caused a previous account closure.
However, Truist doesn’t clearly promise easier approval for applicants with negative ChexSystems information. Confidence still requires an account application and bank approval.
That distinction matters. A no-overdraft account changes what happens after the account opens. A second chance account has approval rules created for people with past banking problems.
Someone with an older paid record may still qualify, but serious unresolved debt or fraud-related information could cause a denial.
Truist One Checking Offers More Traditional Features
Truist One Checking is the bank’s standard personal checking account. It requires $50 to open and has a $12 monthly maintenance fee.
You can avoid the monthly fee through one of several methods, including:
- At least $500 in qualifying direct deposits
- At least $500 in combined eligible Truist balances
- A qualifying Truist credit card, mortgage, or consumer loan
- A linked small business checking account
- Student status
- An account owner under 25 or at least 62
Truist One Checking includes paper-check access, a debit card, digital banking, Zelle, and no overdraft fees. Eligible customers may also receive a Balance Buffer that allows certain transactions to exceed the account balance by up to $100 without an overdraft fee.
Confidence may work better when you want a lower monthly charge and no paper checks. Truist One may be a better fit when you want traditional checking features and can meet a fee waiver.
Check Your ChexSystems Consumer Report Before Applying
Review your ChexSystems consumer report before you apply to Truist.
Check for:
- Unknown accounts: An unfamiliar account may point to identity theft.
- Incorrect balances: Make sure each reported amount is accurate.
- Paid debts shown as unpaid: A resolved balance should have the correct status.
- Wrong closure reasons: Confirm that the former bank described the account correctly.
- Incorrect dates: A reporting error may make an older problem appear recent.
Accurate negative information can usually remain in a ChexSystems consumer report for five years. Paying a valid balance generally won’t remove the entry early, but the status should show that the debt has been paid.
Dispute information that’s inaccurate or incomplete. Include bank statements, payment receipts, or identity theft records that support your claim.
What to Do if Truist Denies You
Ask whether ChexSystems affected the decision. When a consumer reporting company contributes to a denial, Truist should provide a notice that identifies the company.
Request your consumer report and review the record that caused the problem. Dispute it when the information is wrong.
When the record is accurate, contact the financial institution that reported it and ask how to resolve the balance. Wait for the updated status before you submit another application.
You can also ask whether Truist Confidence has different approval requirements from Truist One Checking. When neither account is open to you, consider a bank that doesn’t use ChexSystems or one with clear second chance approval standards.
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 $400 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 450 banks that offer second chance checking accounts.
Jake is a personal finance writer with a background in consumer lending and credit counseling. He specializes in credit education, debt management, and helping readers understand the financial systems that affect their daily lives. His goal is simple: cut through the jargon and give people the information they actually need.