If you’ve had trouble opening a checking account because of a negative banking history, you may feel like your options are limited. ChexSystems is a consumer reporting agency that tracks banking issues like unpaid fees, overdrafts, and closed accounts. These records can stay active for up to five years, which may impact your ability to open new accounts.
How ChexSystems Affects Your Banking Choices
Around 80% of banks and credit unions across the U.S. rely on ChexSystems when reviewing new account applications. A negative report can lead to denied applications, restricting your access to financial services. However, there are banks that don’t use ChexSystems, and some even offer second-chance accounts designed to help people with a negative banking history.
Synovus Bank’s Application Process
The good news is that Synovus Bank does not use ChexSystems when evaluating checking account applications. However, they do pull your credit report from Equifax to assess your financial history, which means your credit report will still be considered.
Alternatives to Synovus Bank Without ChexSystems
If Synovus Bank doesn’t meet your specific needs, there are several other banks and credit unions that do not rely on ChexSystems. Here are a few options to explore:
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.
