If you’ve been repeatedly denied access to a bank or credit union because of information on your ChexSystems report, it can seem like you’re never going to be able to open a checking account again. Most banks, after all, use ChexSystems when screening new applications. However, there are still a few out there that don’t.
You may have better luck with a bank that uses either Telecheck, EWS (Early Warning Systems), or even credit reports. It’s also possible to find banks and credit unions that don’t use any reporting service and only require two forms of ID.
Another alternative to finding a non-Chexsystems bank is looking for one that offers second chance checking. Second chance checking accounts are offered by ChexSystems banks as a means to repair your checking history.
Keep your account in good standing for 6 to 12 months and you may be able to transfer to a standard checking account. Though there is usually a low monthly service fee, account holders often still get access to every modern-day banking tool (including mobile banking and remote deposit).
Don’t assume that because you have a negative ChexSystems history that you can never bank again. There are alternatives out there. You just have to know where to look.
BBVA Compass ClearConnect Checking
BBVA Compass’ ClearConnect Checking account doesn’t use ChexSystems to screen new applications. Instead, it uses Early Warning Systems (EWS). The ClearConnect Checking account is a completely online banking experience. More importantly, it only requires a $25 opening deposit, and doesn’t charge any monthly service fees or require a minimum account balance.
Account holders get access to every modern day banking convenience currently on the market. These include free online and mobile banking, free remote deposit, free eStatements, and a free debit card. BBVA is also a part of the Allpoint ATM network, which means members can access over 55,000 ATMs around the world for free.
Chime Bank is an online banking solution for people with ChexSystems issues. It doesn’t use ChexSystems to screen new applications, nor does it run a credit report. Chime is also completely free. It doesn’t charge any fees, so you never have to worry about monthly service charges, minimum account balance fees, or even overdraft charges.
To create an account with Chime only takes a couple of minutes. You get access to over 38,000 free ATMs, and can even get paid up to two days early if you sign up with direct deposit.
You can obviously access your account online, but you can also manage your account through the mobile app, which comes with free remote deposit.
Bellwether Community Credit Union
Bellwether Community Credit Union uses ChexSystems to screen new applications, but they are more lenient with negative entries than other banks. As long as there isn’t a history of fraud, and any money you owed banks has since been paid, you may be able to open an account. Applicants who only had a few negative marks (between one and three) have reported more success than those with more.
Bellwether Community Credit Union has locations in Bedford, Manchester, and Nashua, but is also a part of the Co-Op Shared Branch Network which gets account holders access to 15 more credit unions. These shared branches can be found all throughout New Hampshire.
To join Bellwether Community Credit Union is very simple for New Hampshire citizens because the only requirements are that you must either live or work within the state and be over 18 years old. You can even join online. The only things you need to provide are:
- Driver’s License
- Debit Card or Check (for account number and routing number)
- Social Security Number
Bellwether offers three checking accounts for its members: Silver, Gold, and Platinum. However, regardless of which one you choose, there are a variety of benefits that come with each account. These include free online and mobile banking, free online bill pay, free remote deposit via the mobile app, a free debit card, and unlimited check writing.
Members First Credit Union
Members First Credit Union does use ChexSystems when approving new accounts, but unlike most credit unions and banks, they’re ok with a negative entry or two. As long as there isn’t a history of fraud and all previous accounts have been paid, Members First may approve your application.
Membership is available to anyone who lives or works within 25 miles of a branch location. Currently, Members First Credit Union has locations in Bedford and Manchester but is also a part of the Co-Op Shared Branch network. This means members can access their account for free at over 5,000 branch locations across the country.
Members First Credit Union currently has three types of checking accounts for members to choose. They are Kasasa Cash, Kasasa Cash Back, and Everyday Checking. Each account is free, and none of them require a minimum account balance. All accounts come with every modern banking tool on the market. These free features include:
- Online and mobile banking
- Text banking
- Bill pay
- Debit card
- Phone banking
- First Pay (get paid two days early with automatic deposit)
Northern Lights Credit Union
Northern Lights Credit Union does use ChexSystems to screen new applications, but they’re unique in that they allow anyone to open a savings account, regardless of their ChexSystems history. To become a member, you must live, work, worship, or attend school in Cheshire City or Sullivan County. Membership is also available to the immediate family of current members.
Northern Lights Credit Union has a location in Littleton, New Hampshire but also has one in nearby St. Johnsbury in Vermont.
Members have access to five types of checking accounts: Free-Checking, Basic Checking, Premier Checking, You Earned It Checking, and Business Checking. Free-Checking does not require a minimum deposit, nor does it charge monthly service fees or require a minimum account balance. It comes with free online and mobile banking, free eStatements, a free debit card, and direct deposit.
Wells Fargo offers a second chance checking account called Opportunity Checking. Intended for people with negative records on their ChexSystems report, Opportunity Checking can help you repair your checking history.
The account requires a $25 opening deposit, and there is a $10 monthly service fee. However, this fee can be waived if you meet certain conditions. The conditions are: maintain a daily amount of $1,500, have $500 or more directly deposited each month, or have 10 or more debit card purchases or payments each month.
Wells Fargo is a nationwide bank and has locations throughout much of New Hampshire.