If you’ve been denied a checking account due to a negative banking history, it can feel discouraging. ChexSystems is a consumer reporting agency that tracks certain banking activities, such as unpaid fees, overdrafts, or account closures. These records can remain active for up to five years, making it difficult to open new accounts during that period.
How ChexSystems Affects Your Banking Options
Approximately 80% of U.S. banks and credit unions use ChexSystems to evaluate new account applications. If your ChexSystems report contains negative entries, you might face challenges in getting approved for a checking account. However, some financial institutions don’t rely on ChexSystems, and others offer second chance accounts that can help you regain access to essential banking services.
First Community Credit Union’s Application Process
First Community Credit Union does not use ChexSystems when reviewing applications for checking accounts. This makes it a great option for those with a troubled banking history who are seeking a fresh start.
More Banks That Don’t Use ChexSystems
While First Community Credit Union is a solid choice, it’s always helpful to explore other options. Here are a few more alternatives that do not rely on ChexSystems:
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.
