Have you been turned down for a checking account due to a negative banking history? If so, you’re not alone, and there are plenty of banking alternatives designed to help people in your situation.
ChexSystems is a consumer reporting agency that tracks specific banking behaviors, such as unpaid fees, overdrafts, and closed accounts. These records can stay on file for up to five years, making it harder to open new accounts, especially since about 80% of U.S. banks and credit unions use ChexSystems to screen applicants.
Current’s ChexSystems Policy
If you’re considering opening a Current checking account, you’ll be glad to know that they do not use ChexSystems. This makes Current a great option for those with a negative banking history. Current provides an inclusive banking experience that doesn’t rely on traditional background checks, making it accessible to people who have struggled with past financial difficulties.
The Advantages of Banking With Current
Current is designed to offer a flexible and inclusive banking experience, focusing on giving everyone access to essential financial services without being hindered by past banking mistakes. Their modern, app-based platform makes it easy to manage your money without worrying about hidden fees or long approval processes.
Alternatives to Current That Don’t Use ChexSystems
While Current is a great option for avoiding ChexSystems, several other banks and credit unions offer similar opportunities. Here are three more excellent alternatives to consider:
U.S. Bank
- $400 bonus – limited time offer
- $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
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.
