If you’ve ever been turned down for a checking account, ChexSystems could be the reason. This consumer reporting agency keeps track of banking activity like overdrafts, unpaid fees, and closed accounts.
Negative records can stay on your ChexSystems file for up to five years, which can make it harder to open new accounts while that information remains.
How ChexSystems Can Affect Your Banking Options
Most banks and credit unions in the U.S. check ChexSystems when reviewing new account applications. If your file includes negative entries, such as unpaid balances or repeated overdrafts, you may be declined.
That doesn’t mean you’re out of options. Some financial institutions skip ChexSystems entirely, while others offer second chance checking accounts that help people rebuild their banking record and restore access to everyday financial tools.
Valley National Bank’s Policy on ChexSystems
Valley National Bank uses ChexSystems to screen new checking account applicants. If your ChexSystems file shows unpaid fees, charge-offs, or closed accounts, your application may not be approved.
While that can be disappointing, there are plenty of banks that don’t rely on ChexSystems. These options can make it easier to open an account, manage your money, and move toward a stronger financial foundation.
Alternatives to Valley National Bank That Don’t Use ChexSystems
If Valley National Bank’s policy makes it difficult for you to open an account, consider these flexible options that don’t use 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
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.
