Have you tried to open a checking account in New Mexico, but can’t get approved? It’s probably because you have a negative listing in ChexSystems. Most banks in New Mexico use ChexSystems to review your banking history.
Fortunately, you still have options. There are several banks that don’t use ChexSystems during the application process, and others that offer second chance checking.
Non-ChexSystems & Second Chance Banks in New Mexico
Take a look at this comprehensive list of banks and credit unions in New Mexico that either don’t use ChexSystems, or offer second chance checking accounts.
1st Convenience Bank doesn’t utilize a ChexSystems record check so you may get approved for an account. The most basic option is the e-Account. You won’t be able to write checks, but you do get a MasterCard debit card, plus perks like online and mobile banking.
The monthly fee is $7 but you can get it reduced to $5 by signing up for e-statements. It’s free to use Gold Key ATMs, otherwise, you’ll be charged $2.50 for out-of-network ATMs.
There are many 1st Convenience Bank locations placed in Walmarts throughout New Mexico, including Alamogordo, Albuquerque, Bernalillo, Clovis, Farmington, Hobbs, Las Cruces, Rio Rancho, and Roswell.
Aspiration’s Spend & Save Account is a hybrid checking and savings account that is entirely online. There’s a $10 minimum opening deposit to get started.
With an Aspiration debit card, you get unlimited fee-free withdrawals at over 55,000 ATMs and one out-of-network ATM reimbursement per month. You can also get paid up to two days early with direct deposit.
You can earn up to 5.00% APY when you spend $1,000/month and deposits are FDIC insured.
If you’ve had banking mistakes in your past, Bank of Albuquerque offers a second chance with their Opportunity Banking account. It comes with a monthly fee of $14.95, but that goes down to $9.95 per month if you have direct deposit totally at least $300.
The account provides you with a free Visa debit card, plus the usual features like online and mobile banking. You also get free ATM access to over 24,000 ATMs across the country.
Another nice perk is that you can get one overdraft fee refunded each year, as long as you initiate the request. There’s an additional monthly fee or $1.50 if you want paper statements, but you can elect to receive e-statements for free.
Additionally, you’ll need $50 to open the account. As the name implies, there are branch locations in and around the Albuquerque area.
Bank of the Southwest offers less stringent approval guidelines when it comes to having a history in ChexSystems. You might be able to get approved for a checking account if you’ve paid any outstanding fees to financial institutions and don’t have any records less than a year old.
Bank of the Southwest offers just a single personal checking account, and you’ll need to talk directly to a customer service representative to get approved.
To visit a branch in person, you can choose from multiple locations. There are branches in Roswell, Hatch, Las Cruces, Truth or Consequences, Elephant Butte, Farmington, Kirtland, and Bloomfield.
You can get Second Chance Checking from First American Community. There are a few restrictions that come along with the account, but also some nice benefits.
First, there’s no minimum monthly balance. Plus, you get standard features like online and mobile banking, bill pay, and free e-statements.
The monthly fee is $10 and you must start with a $50 opening deposit. Also, you’re limited to just 50 free transactions each month; thereafter, you’ll be charged $0.20 for each one.
After managing your account well for 12 months, you can upgrade to another checking account with First American Community.
There’s a branch location in Tse Bonito where you can learn more, or you can apply directly online. Before accessing the Second Chance Checking, you’ll need to become a member.
You may just need a valid photo ID to get approved for a checking account with Jemez Valley. But first, you’ll need to qualify for membership to the credit union.
You’re eligible if anyone in your family is already a member, or if you live, work, or own property in either the Jemez Valley or Rio Rancho School district.
To get started, you’ll need to first open a regular share savings account with a minimum deposit of $25. Then you can open up a draft checking account, which comes with no monthly fee and no minimum balance required.
If you keep at least $2,000 in your account, you’ll earn a modest 0.20% interest on your balance. There is one branch location in Jemez Springs, New Mexico.
Lea County State Bank offers Opportunity Checking which allows you to take advantage of a traditional bank account.
You’ll need to start with $100 to open up the account and there are a few different fees to be aware of. If you sign up for Check Safekeeping, there’s no monthly fee but you do pay $0.25 per check for the first ten checks, then $0.40 for each one thereafter.
If you don’t get Check Safekeeping, there’s a $4 monthly fee in addition to the same per check fees. Either way, you do get a Visa check card in addition to internet banking and bill pay. You can find Lea County State Bank branches in Hobbs and Lovington.
If Wells Fargo declines you for a standard checking account, you may still qualify for their “Clear Access Banking” account.
This second chance checking account has a monthly fee of $5. The only way to avoid it is if the primary account owner is 13 – 24 years old.
There’s a minimum opening deposit of $25. You get access to online bill pay, mobile banking, and over 13,000 ATMs free of charge.
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.
1. Out-of-network ATM withdrawal fees may apply with Chime except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
2. Early access to direct deposit funds depends on the timing of the submission of the payment ﬁle from the payer. Chime generally make these funds available on the day the payment ﬁle is received, which may be up to 2 days earlier than the scheduled payment date.
7. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or beneﬁts payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, veriﬁcation or trial deposits from ﬁnancial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
Non-ChexSystems Banks by State
Looking for more information and additional options available in your area? Select your state from the list below to find out all your options for banking.
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- Washington, DC
- West Virginia