If you’ve been denied a checking account due to a negative banking history, it can feel like your options are limited. ChexSystems is a consumer reporting agency that tracks your banking behavior, including unpaid fees, overdrafts, and account closures. These records can remain on file for up to five years, often making it difficult to open new accounts during that time.
How ChexSystems Can Limit Your Banking Opportunities
With around 80% of U.S. banks and credit unions relying on ChexSystems, a negative report can significantly restrict your access to traditional banking services. When a bank or credit union reviews your ChexSystems report, negative marks could lead to application denials. Despite these challenges, not every financial institution uses ChexSystems, and some even offer second chance accounts to help individuals rebuild their financial standing.
Mountain America Credit Union’s Use of ChexSystems
Mountain America Credit Union does use ChexSystems when evaluating checking account applications. If your ChexSystems report has negative information, it’s likely that your application will be denied by MACU. While this can be discouraging, there are still other banking options available to you that do not rely on ChexSystems for approval.
If Mountain America Credit Union’s reliance on ChexSystems is a barrier for you, consider exploring some options that don’t use ChexSystems. Here are a few 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.
