Have you been denied a checking account due to past banking issues? If so, there are alternative banking solutions available, even if other banks have turned you down.
ChexSystems is a consumer reporting agency that tracks banking behaviors, including unpaid fees, overdrafts, and account closures. Once you have a record in ChexSystems, it can stay there for up to five years, potentially making it difficult to open new accounts, especially since roughly 80% of U.S. banks and credit unions use ChexSystems.
Truist’s Policy on ChexSystems
If you’re considering opening a checking account with Truist, be aware that they do use ChexSystems when reviewing new account applications. This means that any negative history in your ChexSystems report, such as unpaid fees or closed accounts, could impact your ability to get approved.
How ChexSystems Affects Your Banking Access
Because so many banks rely on ChexSystems to screen applicants, a negative report can limit your access to standard banking services. If you’ve faced issues like overdrafts or unpaid fees, these will show up on your ChexSystems record and might prevent you from opening a new account. However, this doesn’t mean you’re out of options.
Alternatives to Truist That Don’t Use ChexSystems
Even if Truist’s ChexSystems policy is a hurdle, you still have other choices. Many banks and credit unions don’t rely on ChexSystems, making it easier to open an account. Here are three excellent alternatives to consider:
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.
