Being denied for a checking account can make everyday finances feel more complicated than they should be. Fortunately, some banks are willing to give customers a fair second chance to rebuild their financial reputation.
Woodforest Bank is a community-focused bank with locations inside Walmart stores and branches across several states. It’s known for providing accessible banking options, including accounts designed for people working to recover from past financial challenges.
How ChexSystems Affects Banking Access
ChexSystems is a consumer reporting agency that collects information about certain types of banking activity, such as overdrafts, unpaid fees, and account closures. These records can stay active for up to five years, and about 80% of banks and credit unions in the U.S. use this data to decide whether to approve new account applications.
If your record includes negative information, such as unpaid balances or frequent overdrafts, it could make opening a traditional checking account more difficult. However, not all banks rely solely on ChexSystems, and some, like Woodforest Bank, provide dedicated options to help you get back on track.
Woodforest Bank’s ChexSystems Policy
Woodforest Bank does use ChexSystems when reviewing new account applications. If your report contains negative entries, it may affect your ability to open a standard checking account. The difference is that Woodforest also offers a specific solution for those in this situation.
Woodforest’s Second Chance Checking Account
Woodforest Bank’s Second Chance Checking Account is designed for people who have been flagged by ChexSystems or faced previous banking challenges. This account allows you to reestablish your banking history while maintaining access to essential financial tools like direct deposit, online banking, and debit card services.
Once you demonstrate consistent account management, you may later qualify for one of Woodforest’s standard checking products. This makes it a practical choice if you want to prove your reliability and rebuild your financial standing.
Other Banks That Don’t Use ChexSystems
If you prefer an account that doesn’t involve ChexSystems screening, several online banks offer easy approval and modern banking features without traditional restrictions.
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.
