Have you been turned down for a checking account because of a poor banking history? If so, you’re not alone. Fortunately, there are alternative banking solutions that can help you move forward, even if traditional banks have denied your application.
ChexSystems is a consumer reporting agency that tracks specific banking activities such as overdrafts, unpaid fees, or account closures. Once a record is filed, it can stay on your report for up to five years, which may affect your ability to open new accounts. With about 80% of banks and credit unions in the U.S. using ChexSystems, this can make banking more challenging for those with a troubled history.
Comerica Bank’s Policy on ChexSystems
If you’re considering opening a checking account with Comerica Bank, be aware that they do use ChexSystems when reviewing new account applications. This means that if your ChexSystems report contains negative information, such as unpaid fees or overdrafts, it could impact your chances of being approved.
Why ChexSystems Records Can Limit Your Options
Since many financial institutions use ChexSystems to screen applicants, a negative record can make it difficult to gain access to standard banking services. Past issues like unpaid fees, frequent overdrafts, or account closures may affect your ability to open new accounts for up to five years. However, there are still options for those looking to rebuild their financial profile.
Alternatives to Comerica Bank That Don’t Use ChexSystems
Even though Comerica Bank uses ChexSystems, there are plenty of other banks and credit unions that don’t rely on it for account approval. Here are a few excellent alternatives to consider:
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.
