If you’ve struggled to open a checking account because of past banking problems, you’re not alone. Many financial institutions rely on ChexSystems, a reporting agency that tracks things like overdrafts, unpaid fees, and closed accounts.
Negative records can stay on your file for up to five years, which can make it harder to open new accounts while that information remains.
How ChexSystems Can Limit Your Banking Options
About 80% of banks and credit unions in the U.S. use ChexSystems to screen new applicants. If your record includes negative activity, such as unpaid balances or repeated overdrafts, you may be denied a checking account.
Still, not every financial institution relies on ChexSystems. Some skip it altogether, while others offer second chance checking accounts that give you an opportunity to rebuild your banking record and regain access to standard financial services.
VyStar Credit Union’s Policy on ChexSystems
VyStar Credit Union does use ChexSystems when reviewing new account applications. If your record shows negative information, including unpaid fees or closed accounts, your application could be declined.
This can be frustrating, especially if you’re trying to get back on track. Fortunately, there are several banks and credit unions that don’t use ChexSystems, giving you another chance to open an account and manage your money with confidence.
Alternatives to VyStar Credit Union That Don’t Use ChexSystems
If VyStar Credit Union’s policy makes opening an account difficult, consider these trusted alternatives that don’t rely on 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.
