If you’ve been denied a checking account because of a poor banking history, you might feel like your options are limited. ChexSystems is a consumer reporting agency that tracks negative banking activity, such as overdrafts, unpaid fees, or account closures. This information can remain on your record for up to five years, making it difficult to open new accounts during that time.
How ChexSystems Impacts Banking Choices
Around 80% of banks and credit unions in the U.S. rely on ChexSystems to evaluate new account applications. A negative report can result in denied applications, limiting your access to traditional banking services. Fortunately, some financial institutions don’t use ChexSystems, and others offer second-chance accounts designed to help those with previous banking challenges.
Zions Bank’s Policy on ChexSystems
Unfortunately, Zions Bank does use ChexSystems when reviewing checking account applications. However, there is still hope. Zions Bank offers a Fresh Start Checking account specifically designed for individuals who have been denied due to negative banking history. This account provides a way for customers to rebuild their banking reputation while gaining access to essential financial services.
Alternatives to Zions Bank
If Zions Bank’s Fresh Start Checking doesn’t suit your needs, here are a few alternatives that don’t rely on ChexSystems:
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
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
Chime
- Up to 3.75% APY on a high-yield savings account
- Over 60,000+ 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.
