Were you denied a checking account because of a negative banking history? If so, you’re not alone, but the good news is that there are other banking options out there that can meet your needs.
ChexSystems is a consumer reporting agency that tracks your banking activities, such as unpaid fees or overdrafts. These records can stay on your report for up to five years, making it difficult to open new accounts. With about 80% of banks and credit unions in the U.S. relying on ChexSystems, this can present a major obstacle.
How ChexSystems Can Impact Your Banking
When you have a record with ChexSystems, it can prevent you from opening accounts at most traditional banks. However, not all financial institutions rely on ChexSystems. Many banks and credit unions offer accounts to help people rebuild their banking reputation, either through second chance accounts or by skipping ChexSystems altogether.
Associated Bank’s ChexSystems Policy
If you’re looking to open a checking account with Associated Bank, be aware that they do use ChexSystems to screen applicants. This means that if you have a negative entry in your ChexSystems file, it could affect your ability to get approved for an account.
Alternatives to Associated Bank
If you’ve hit a roadblock with Associated Bank, there are other institutions that don’t use ChexSystems, giving you more opportunities to manage your finances. Here are three great alternatives worth checking out:
U.S. Bank
- Up to $400 sign-up bonus
- $25 minimum opening deposit
- Monthly service fee can be waived
- Over 40,000 fee-free ATMs
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
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.
