13 Banks That Don't Use ChexSystems for 2024
Denied a bank account due to your poor banking history? Fret not, some banks don't check your ChexSystems report.
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- Capital One
- SoFi Bank
- PNC Bank
- U.S Bank (Current offer: Up to $450 Bonus)
- Chime
- Chase (Current offer: $300 Bonus)
- Varo Bank
- Current
- Navy Federal Credit Union
- Bank of America (Current offer: $300 Bonus Offer)
- Acorns
- Wells Fargo
- Go2Bank
If you've struggled with managing your finances before, some banks may be more cautious about letting you open an account. This is especially true if there's a record on your ChexSystems report.
But don't worry, you are not alone. And luckily, some institutions don't depend on ChexSystems.
You can try to open a new account with these institutions without worrying much about your negative banking history. Find out which banks and how you can open an account with them.
Chase Secure Banking℠ - $100 Bonus
- New Chase checking customers enjoy a $100 checking account bonus when you open a Chase Secure Banking℠ account with qualifying transactions. Open online or at any Chase branch.
- Set up direct deposit and you may get your money up to two business days early-exclusively for Chase Secure Banking℠ customers.
- No minimum deposit to open an account and get started plus no overdraft fees with a Chase debit card that helps you stay within your balance.
- No need to worry about overdraft fees - Chase Secure Banking℠ allows you to spend only the money you have available.
- Chase Secure Banking℠ customers told us they save an average of more than $40 per month on fees after opening their account.
- Pay bills, cash checks and send or receive money with Zelle® with a Chase Secure Banking℠ account.
- Bank from anywhere with access to more than 15,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase.com.
- JPMorgan Chase Bank, N.A. Member FDIC.
Bank of America Advantage SafeBalance Banking®
- Banking that helps you stay within your balance.
- No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
- Bank of America, N.A. Member FDIC.
Rewards Checking Plus - Up to 2% Cash Back
- Up to 2% cash back on purchases.
- No monthly fees
- Get paid up to 2 days early.
- Maximize your rewards with direct deposit.
13 Banks That Don't Use ChexSystems
Here are some banks that don't use or don't require a clean ChexSystems report. Let's explore each bank and which of their accounts you can get started with.
Yes, you can. Some institutions don't look at the ChexSystems report or are simply lenient when it comes to customers opening new accounts.
Capital One
Capital One is a popular, full-service bank that does not use ChexSystems.[1] This means you can still open a checking account with them even if you have negative marks in your report.
They offer a 360 Checking Account with no monthly fees or account minimums. They also offer overdraft options that give you no overdraft fees whichever you choose.
Lastly, users get access to over 70,000 fee-free ATMs and a top-rated mobile app. [2]
Capital One: 360 Checking Account
- $0 opening minimum
- No monthly service fee
- No minimum balance requirement
- 0.10% APY
- 40,000+ Allpoint ATMs
SoFi Bank
SoFi is another bank that does not require your ChexSystems report. They offer an all-in-one account called the SoFi Checking and Savings that pays different rates for each balance. [3]
You can get a 4.00% APY on savings balances with direct deposit (1.20% APY without) and 0.50% APY on checking balances. It also has no monthly charges, account minimums, or overdraft fees.
Lastly, you can also use the SoFi app to manage your finances whenever and wherever you want.[4]
Sofi Checking and Savings
- Up to 4.00% APY with direct deposit on savings balances
- $0 monthly fees
- No minimum balance
- Get paid 2 days early
PNC Bank
Even though PNC Bank uses ChexSystems reports, they have a second-chance bank account for those who don't qualify for their traditional checking option.
PNC Foundation Checking helps individuals with their budgeting and financial needs. It boasts no opening deposit requirement but has a $5 monthly service charge for users under 62 years old. [5]
It also has no overdraft fees and no transaction fees when using in-network ATMs. [6]
PNC Foundation Checking Account
- No minimum opening deposit
- No overdraft fees
- $5 monthly service charge; $0 monthly service charge for clients 62 years old and above or PNC employees
- Monthly service charge on a Standard Savings account is waived for the first 12 months
A second chance account is an option for folks with a history of financial challenges or account closures. It offers basic services with some limitations, allowing you to rebuild your banking history and eventually qualify for standard accounts.
U.S Bank
U.S. Bank is another institution known to be ChexSystems-tolerant. While they do look at your ChexSystems report, they are quite lenient in approving account applications (even if you have negative marks).
You can go for the U.S. Bank Smartly® Checking, which has a minimum opening deposit of $25 and a $6.95 monthly service fee.
It also comes with overdraft protection, an easy-to-navigate mobile app, financial management tools, access to Smart Rewards, and complimentary access to Greenlight's debit card and money app. [7]
With Greenlight, kids and teens can learn to manage their money safely while staying connected to family, and parents can send money instantly, set flexible controls, and track transactions.
U.S. Bank Smartly® Checking - Up to $450 Bonus
Earn up to $450 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:
- Enroll in online banking or the U.S. Bank Mobile App
- Make two or more direct deposits(s) totaling $2,000 to $4,999.99 to earn $250, $5,000 to $7,999.99 to earn $350 or $8,000 or more to earn $450.
Fund your new account within 30 days to start qualifying activities. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.
- Monthly Fee: Waive the $6.95 Monthly Maintenance Fee with one of the following:
- Are 24 and under, 65 and over or a member of the military (must self-disclose), OR
- Have combined monthly direct deposits totaling $1,000+, OR
- Keep average account balance of $1,500+, OR
- Hold an eligible U.S. Bank credit card, OR
- Qualify for one of the four Smart Rewards™ tiers (Primary, Plus, Premium or Pinnacle)
Chime
Chime is an online-only fintech company that offers Chime Second Chance Banking for those with a bad banking history. It comes with several attractive features such as:
- $0 monthly maintenance fees
- No minimum balance requirement
- No overdraft charges
- No foreign transaction fees
Aside from access to an award-winning mobile app, you also get a debit card with access to over 60,000 fee-free ATMs when you open a second chance banking account.[8]
Chime Second Chance Banking
- No monthly maintenance fee
- No overdraft fees
- No foreign transaction fees
- 60,000+ fee-free ATMs
Chase
Even if you have a negative ChexSystems report, you can still open an account with one of the biggest banks in the US through Chase Secure Banking.
It has no minimum initial deposit, but it does have a $4.95 monthly service fee. You can avoid the monthly service fee when you have electronic deposits made into the account totaling $250 or more during each monthly statement period.
It also has no overdraft charges mainly because Chase will decline or return transactions made when you don't have enough in your account.
You can also take control of your finances from anywhere with the Chase mobile app and a free debit card with access to thousands of ATMs. [9]
Varo Bank
Varo Bank is an online-only bank that also does not look at ChexSystems.[10] You can open a Varo Online Bank Account to help you manage your daily finances.
It boasts no minimum balances and no monthly fees, giving you more control of your hard-earned money. It also allows you to do the following through their online banking platforms:
- Pay bills
- Get direct deposits
- Send and receive money
- Deposit checks
The catch is they don't have any physical locations. Luckily, you can still withdraw cash at over 40,000 fee-free ATM with your complimentary debit card. [11]
Varo Bank Account
- $0 opening deposit
- No monthly service fee
- No balance requirements
- No fees at 55,000+ Allpoint ATMs
- Get paid up to two days early with direct deposit
- No foreign transaction fees
- Member FDIC
Current
Current is a popular mobile banking company that won't check ChexSystems. You can easily open a personal Current Account, which has $0 monthly/annual fees and no hidden charges.
It even comes with Savings Pods that allow you to earn up to 4.00% bonus on up to $6,000 balance. You also get an exclusive card with Tap to Pay features and access to thousands of in-network ATMs. [12]
Current Savings - Up to 4.00% bonus
- 4.00% bonus on up to $6,000 balance if you receive and maintain a qualifying direct deposit of $200 or more in a rolling 35 day period. (Otherwise, 0.25%)
- Simply add money to your Savings Pods and enable the Boost feature.
- Earn bonus on up to 3 Savings Pods, up to $2,000 balance each.
- Bonuses accumulate daily.
Navy Federal Credit Union
If you are an active or retired member of the military with a negative banking history, you can still open a checking account with Navy Federal Credit Union (NFCU).
Among their many checking options is the Free Easy Checking account with no minimum balance and $0 monthly charges.
There are also no fees for in-network ATM transactions and up to $10 in ATM fee rebates per statement period. Lastly, you can easily manage your account through NFCU's online platform and mobile app.[13]
You can get a copy of your ChexSystems report for free every 12 months. You must simply send a request by going to their website and filling out the request form found on the Consumer Disclosure page.
Bank of America
Bank of America also offers a second-chance checking account for those with bad marks in their ChexSystems report, if you prefer a more traditional bank.
For Bank of America Advantage SafeBalance Banking®, all you need is a $25 minimum deposit to open an account. It does have a $4.95 monthly fee, but you can have it waived if you meet certain criteria.
Overdraft fees shouldn't be a problem because your transactions will be declined or returned unpaid when they exceed your balance. You also get a debit card and a mobile wallet for your spending needs. [14]
Bank of America Advantage SafeBalance Banking®
- Banking that helps you stay within your balance.
- No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
- Bank of America, N.A. Member FDIC.
- Monthly Fee: $4.95 Monthly Maintenance Fee or $0 - No monthly maintenance fee each statement cycle when you meet one of the following:
- an owner of this account is under the age of 25 or
- maintain a minimum daily balance of $500 in your account or
- are a member of Bank of America Preferred Rewards®
Bank of America Advantage Banking - $300 Bonus Offer
- The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new checking customers only.
- Offer expires 01/31/2025.
- To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
Acorns
Acorns is a saving and investing app that bypasses the ChexSystems. They have a checking account with no hidden fees, overdraft charges, or balance requirements.
Acorns Checking comes with a complimentary debit card and access to 55,000+ fee-free ATMs in the Allpoint network.
They also offer an easy online banking platform where you can deposit checks, transfer money, get direct deposits, and much more. [15]
Acorns Checking
Get a checking account that saves, earns and invests for you.
Wells Fargo
Wells Fargo is another big, traditional bank that offers a second chance account called the Clear Access Banking Account. It has a minimum opening deposit of $25 and a $5 monthly service fee that can be waived.
It also boasts no overdraft fees, though optional overdraft services are not available. You can also do your banking through Wells Fargo's online banking platforms or via the 11,000+ Wells Fargo ATMs out there. [16]
- Be a primary account owner between 13 and 24 years old
- Have a Wells Fargo Campus ATM Card or Campus Debit Card linked to your checking account
Wells Fargo: Clear Access Banking
- $5/month fee (can be waived)
- No minimum daily balance required
- Only $25 to open
- No overdraft fees and optional overdraft services available
- ATMs 11,000+ fee-free ATMs available nationwide
Go2Bank
Go2Bank offers an online mobile bank account, perfect for those rebuilding their banking history. While it has no minimum requirement, you are subject to several fees such as:
- $5 monthly service fee
- $3 out-of-network ATM withdrawal fee
- $15 overdraft protection fee
- 3% of the total foreign transaction amount
On the bright side, you can earn a competitive 4.50% APY on balances up to $5,000. You also get the convenience of doing online transactions through their top-rated mobile app. [17]
GO2bank Online & Mobile Banking
- 4.50% APY on up to a $5,000 balance
- 7% cashback on eGift Cards from 100+ popular merchants
- $0 monthly fees with eligible direct deposit
- No minimum balance
What Is ChexSystems?
ChexSystems is a consumer reporting agency in the US that collects data on activities related to checking and savings accounts. They track things like applications, openings, and closures, including the reasons for closing an account.
This data is shared with banks and credit unions to help them evaluate the risk of allowing someone to open a new account.[18]
How to get ChexSystems report:
Here are several ways to request a copy of your ChexSystems consumer disclosure report:
- Via phone call at 800-428-9623
- Submit an online request via the ChexSystems website
- Mail a request to Chex Systems, Inc., Attn: Consumer Relations, P.O. Box 583399, Minneapolis, MN 55458
Why Do Banks Use ChexSystems?
Banks use ChexSystems to evaluate your financial risk by reviewing your banking history when considering your application.
If you have a history of fraudulent transactions or missed payments, the bank may see you as likely to repeat that behavior. This labels you as a risk, making them hesitant to approve your account.
Yes, many credit unions use ChexSystems to evaluate the risk of opening a checking or savings account. But, not all of them do, and some even offer second-chance accounts for people with a negative banking history.
Consequences of Being in the ChexSystems
The biggest consequence of having negative remarks in your ChexSystems report is having your bank account applications denied. This is because those with a bad banking history are viewed as riskier by banks and credit unions.
In turn, this can also limit your options because a lot of well-known institutions use ChexSystems reports.
If there are negative activities on your ChexSystems report, it will remain there for at least 5 years. [19] However, the Fair Credit Reporting Act states that reporting agencies can only keep negative information for up to 7 years and bankruptcies for a max of 10 years. [20]
Who Should Go for Banks That Don't Use ChexSystems?
If any of the following applies to you, you might want to consider banks that don't use ChexSystems instead:
- You have a bad banking history.
Those who have records of bounced checks, overdrafts, unpaid fees, suspected fraud, and such are probably already seen as red flags by banks and credit unions. Institutions that don't use ChexSystems can lessen their chances of getting rejected from opening an account. - You have been denied from opening an account.
If you have been denied from opening an account, then you probably already have negative marks on ChexSystems. This means you can get denied again, so you should check out alternative options instead. - You are rebuilding your banking history.
If your goal is to start fresh and slowly rebuild your banking history, you can open an account with a non-ChexSystems bank to help you with your financial management journey.
Still, if you simply prefer banking with an institution that doesn't use the ChexSystems, you can go for these banks or check out other alternatives.
How Do I Get Cleared From ChexSystems?
Here are some effective ways to clean up or improve your ChexSystems information:
Check your ChexSystems report regularly
You're entitled to a free copy of your report every year. Review it carefully to spot and dispute any errors or inaccuracies.
Pay off unpaid balances
If you have any negative/unpaid balances, settling your debts is crucial for enhancing your ChexSystems record.
Stay on top of your account
Regularly monitor your bank account to avoid issues. Consider doing the following to stay informed about your transactions and prevent damage to your ChexSystems report:
- Activate low-balance alerts
- Pay account fees promptly
- Set up direct deposits
- Get overdraft protection
Rebuilding your financial reputation takes time, but with awareness and good habits, you can achieve it!
Alternatives to Avoid ChexSystems
Aside from finding banks that don't check your ChexSystems report, here are other ways to avoid ChexSystems:
- Second-chance accounts: are for individuals with poor banking histories. These accounts are designed to help them rebuild their finances by offering financial services despite previous issues or having multiple accounts.
- Prepaid debit cards: are cards that you load with a specific amount of money. You can only spend what's on the card for purchases or ATM withdrawals and reload it when the balance is low.
They aren't linked to a bank account, but you can purchase them online or at retail stores.
Bottom Line
Even though most institutions use the ChexSystems, there are several banks out there for those who want to bypass it. You can still open an account and manage your finances better despite having a negative banking history.
However, the best thing to do is to prevent bad marks in your ChexSystems report by handling your account and your money more responsibly.
Chase Secure Banking℠ - $100 Bonus
- New Chase checking customers enjoy a $100 checking account bonus when you open a Chase Secure Banking℠ account with qualifying transactions. Open online or at any Chase branch.
- Set up direct deposit and you may get your money up to two business days early-exclusively for Chase Secure Banking℠ customers.
- No minimum deposit to open an account and get started plus no overdraft fees with a Chase debit card that helps you stay within your balance.
- No need to worry about overdraft fees - Chase Secure Banking℠ allows you to spend only the money you have available.
- Chase Secure Banking℠ customers told us they save an average of more than $40 per month on fees after opening their account.
- Pay bills, cash checks and send or receive money with Zelle® with a Chase Secure Banking℠ account.
- Bank from anywhere with access to more than 15,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase.com.
- JPMorgan Chase Bank, N.A. Member FDIC.
Bank of America Advantage SafeBalance Banking®
- Banking that helps you stay within your balance.
- No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
- Bank of America, N.A. Member FDIC.
Rewards Checking Plus - Up to 2% Cash Back
- Up to 2% cash back on purchases.
- No monthly fees
- Get paid up to 2 days early.
- Maximize your rewards with direct deposit.
References
- ^ Office of the New York State Attorney General. A.G. Schneiderman Announces Commitment By Capital One To Expand Access To Bank Accounts For Consumers Previously Excluded From The Banking System, Retrieved 11/03/2024
- ^ CapitalOne. 360 Checking Account, Retrieved 11/03/2024
- ^ SoFi. What Is ChexSystems?, Retrieved 11/03/2024
- ^ SoFi. A savings account with 4.60% APY? You got it., Retrieved 11/03/2024
- ^ PNC. Fee Schedule Foundation Checking, Retrieved 01/10/2024
- ^ PNC. PNC Foundation Checking Account, Retrieved 11/03/2024
- ^ US Bank. Find a checking account made for you., Retrieved 11/03/2024
- ^ Chime. Chime Second Chance Banking, Retrieved 11/03/2024
- ^ Chase. Chase Secure Banking, Retrieved 11/03/2024
- ^ Varo. What Is Second Chance Banking?, Retrieved 11/03/2024
- ^ Varo. Your Get-To-What's-Next Online Bank Account, Retrieved 11/03/2024
- ^ Current. What types of accounts does Current offer?, Retrieved 11/03/2024
- ^ Navy Federal Credit Union. Checking Accounts & the Navy Federal Debit Card , Retrieved 11/03/2024
- ^ Bank of America. Bank of America Advantage Banking, Retrieved 11/03/2024
- ^ Acorns. Banking with Acorns, Retrieved 11/03/2024
- ^ Wells Fargo. Wells Fargo Clear Access Banking, Retrieved 11/03/2024
- ^ Go2bank. Turn your money into more money with our 4.50% APY, Retrieved 11/03/2024
- ^ ChexSystems. About ChexSystems, Retrieved 11/03/2024
- ^ HelpWithMyBank.gov. How long does negative information stay on ChexSystems and/or EWS consumer reports?, Retrieved 11/03/2024
- ^ CFPB. How long does negative information remain on my credit report?, Retrieved 01/10/2024
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