Have you been denied a checking account due to a poor banking history? If so, you’re not alone, and there are still ways to move forward. Thankfully, you have options when it comes to banking solutions that can help you access financial services even after being turned down by traditional banks.
ChexSystems is a consumer reporting agency that monitors certain banking behaviors, such as unpaid fees, overdrafts, and account closures. These reports can last up to five years, potentially making it difficult to open new accounts. With approximately 80% of banks and credit unions in the U.S. using ChexSystems, it can be a roadblock for those with a problematic banking history.
How ChexSystems Impacts Your Banking Access
Having a record with ChexSystems can limit your ability to open checking accounts with traditional banks. However, this doesn’t mean you have no options. Some financial institutions offer second chance accounts or avoid using ChexSystems entirely, giving you a path to rebuild your financial standing.
First National Bank’s ChexSystems Policy
If you’re looking into opening a checking account at First National Bank, it’s important to be aware that they do use ChexSystems. This means that if your ChexSystems report contains negative entries like overdrafts or unpaid fees, it could affect your chances of being approved for an account.
ChexSystems-Free Banking Options
If you’ve encountered challenges with First National Bank, don’t worry—there are other financial institutions that do not rely on ChexSystems. These banks and credit unions offer flexible options for those working to overcome past financial issues. Here are three excellent choices:
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.
