Category Archives for Banking

Best Second Chance Bank Accounts

Introduction

If you have recently attempted to open a new bank account and your application was rejected without good reason, chances are you might have been left pondering on the reason why. 

Second Chance Bank

If you can relate, then you should know that it’s actually quite common that banks and other financial institutions reject new account applications due to applicants’ faulty banking records, and this might have very well been your case. Don't worry about it, we'll present you with the best available second chance bank accounts!

Why Was My Request to Open a New Bank Account Denied?

ChexSystems is a consumer reporting agency that may put your name on their blacklist if you’ve ever had a bank account closed as a result of not paying overdraft fees, or similar other banking mistakes. Most financial institutions use ChexSystems to determine whether to accept or decline a new application.

Synonymous to how your credit score and report will determine whether or not a given creditor will approve your credit card application, ChexSystems provides banks with a consumer report that allows them to determine if a potential account holder will be an asset or a burden. This is mainly to filter out irresponsible account holders who are likely to avoid paying bank fees.

Of course, if you are sure that you have a flawless banking record, then there might be a mistake on ChexSystems, or the reviewing financial institution’s end.

The Solution: A Second Chance Checking Account

If you’re looking to open a bank account online due to bad credit, or if you’ve been searching for a non ChexSystems checking account without much success, then look no more -- “second chance” accounts are alternative bank accounts for people on ChexSystems’ blacklist and they are the perfect solution for someone with a flawed banking record.

Just as the name suggests, these bank accounts have been designed specifically for people who need a second chance at proving that they can be responsible account owners. If they stay clear of fees and negative balances, most banks even allow their users to fix their banking history and upgrade to a regular checking account after 6-12 months.

To aid you further, we’ve put together a list of second chance banks that are worth considering:

BBVA is committed to giving users another shot at responsible banking. Residents of California, Arizona, New Mexico, Texas, Colorado, Alabama, and Florida, can enjoy the benefits of BBVA Compass’ ClearChoice Free Checking, ClearChoice Savings, and Easy Checking accounts, which are all second chance accounts.

Compass ClearChoice Free Checking Account

  • Mobile & online banking, customizable alerts, online and paper statements, and a personalized Visa debit card, all free of charge!You can open an account with as little as a $25 deposit
  • You’re given 180 days to close your account without incurring fees
  • No ATM fees at BBVA Compass ATMs
  • Unlimited checksUse another bank’s ATM without paying a BBVA fee per transaction ($5)
  • Unlimited checks ($2)
  • Unlimited cashier’s checks ($2)
  • A 3x5 deposit box ($3)

For more information by state, you can click here 

Compass ClearChoice Savings Account

  • Service charge is $15, but you don’t pay this if you have a daily balance of at least $500, or if you transfer $25 from your BBVA checking to your savings account every month
  • You can open an account with as little as a $25 deposit
  • You can close your account within the first 180 days for $25
  • Dormant account ($15 every 3 months)
  • Paper statements ($3)
  • Exceeding withdrawals ($3)

For more information by state, you can click here.

Compass Easy Checking

  • It’s a last resort for applicants that don’t qualify to open a ClearChoice account
  • Service charge of $13.95 per monthYou can open an account with as little as a $25 deposit
  • You can close your account within the first 180 days for $25
  • Use another bank’s ATM ($2.50 per transaction)
  • Paper statements ($3)
  • Visa debit card ($10)
  • Dormant account ($5, not available in all states)

For more information by state, you can click here.

2. Wells Fargo

Wells Fargo’s “second chance” option is its Opportunity Checking and Savings Account. This type of account was specially designed for customers with bad credit or banking records. More information about this option:

  • $10 service fee, waived if you perform a minimum of 10 debit card transactions per month, if you maintain an account balance of at least $1,500, or if you receive a minimum of $500 in deposits every billing cycle
  • You are required to make a $50 deposit to open an account
  • You can transfer funds between other Opportunity accounts at no extra fee
  • Optional overdraft protection service
  • Pay bills online at no extra charge
  • Optional spending report
  • Free debit card
  • Use Wells Fargo ATMs at no extra charge
  • Network of 2,500 ATMs across the country

Fees to lookout for:

  • Overdraft fee ($35)
  • Returned item fee ($35)
  • Overdraft protection transfer/ advance fee ($12.50)
  • Excess withdrawals from savings account ($15)
  • Debit card foreign transaction fee (3%)
  • Money orders ($5)
  • Stop payments ($31)

3. First National Bank Texas

first convenience

First National Bank and Trust Company also offers a “second chance” account for customers who are looking to restore their banking record. Their option is the Renew CheckingAccount. More information on this second chance account:

  • Mobile and online banking, bill paying service, electronic statement, all free of charge
  • Monthly fee is $7.95 with direct deposit, and $9.95 otherwise
  • A deposit of $25 or more is required to open an account
  • There are no minimum balance requirements
  • Paper statement available for $2
  • Use one the network’s 70,000 ATMs across the world, at no extra chargeUpgrade to regular account after 1 year of stable activity
  • Close your account within first 180 days for $30

Fees to look out for:

  • One-time setup fee, $15
  • Overdraft and insufficient funds fees, $31
  • Stop payment requests, $31

For more information by state, you can click here.

4. Woodforest National Bank

Woodforest Bank

Woodforest National Bank is another great second chance alternative for consumers inAlabama, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia, and West Virginia.

More information on this second chance account:

  • A minimum deposit of $25 is required to open an account
  • One-time setup fee, $15
  • Monthly maintenance fee of $11.95. If you receive a direct deposit every month, the fee drops to $9.95
  • Withdraw from Woodforest ATMs at no cost

Fees to lookout for:

  • Withdrawals using another bank’s ATM, $2.50 / per transaction
  • Insufficient funds, $29
  • Paper statement, $29
  • Stop payment, $35
  • $25 fee if you close your account within the first 180 days
  • Debit card setup, $15

Although there are many fees tied to this account, you can upgrade to a more convenient account type after 6 months of good standing history. Click here to learn more about this account. 

5. PNC Bank

PNC bank

If you apply for a regular PNC checking account, but aren’t approved, they will offer you a Foundation Checking Account. More information on this second chance account:

  • $7 monthly service fee
  • Minimum deposit of $25 required to open an account
  • Paper statements available for $2/ a monthIn order to apply, customers must first go through PNC’s Foundations of Money Management (http://pncfoundations.com/?action=register) course, which is a great asset in and of itself
  • Upgrade to a regular account after 6 months of stable activity

Where Else Can I Look?

If none of these alternatives help, you can always look around locally. There are many community banks and credit unions that offer second chance accounts. Since these financial institutions aren’t as picky as the larger corporations, and since they are usually more interested in forming a personal relationship with their customers, you can always explain your position personally.

But, I Don’t Have a Bad Credit or Banking Record

No system is perfect, credit bureaus and consumer reporting agencies sometimes have data attached to a wrong name. So, if you believe there may have been a mistake, get the paperwork to back you up and try to clear up the misunderstanding. ChexSystems provides free consumer reports once a year. Consumers may request theirs with an online form available at their website, or by mail, phone, or fax.

You can also review this ChexSystems sample report to become familiar with the information contained therein. If you find proof that there has been an error, you can dispute the information with this form and request that ChexSystems looks into correcting the error

Lookout for Fees and Record All Financial Movement

As described on the list above, these options all entail several bank fees, so it’s worth doing your homework before choosing a second chance account. Go for the one that best fits your needs and is available in your area and monitor your account movement carefully to avoid unnecessary fees. On that same note, try to always have enough money in your account to cover for any mistakes.

Given that the majority of these alternative accounts offer mobile and online banking, you can easily check your balance whenever you wish. There are also many services out there that can help you control multiple accounts from one place, like LevelMoney, Mint, or You Need a Budget.

Are you looking to open a Bank Account but you have ChexSystems problems or Bad Credit?

Try opening a BBVA Compass Free Checking Account! BBVA is one of the top banks in the US and they may give you a REGULAR bank account when you apply online...even with bad credit history or Chexsystems records.

If for some reason, you don't qualify for the regular BBVA checking account, you'll have the opportunity to open the BBVA Compass Easy Checking Account, the most forgiving account designed specifically for those with banking problems....

Learn more about BBVA Second Chance Banking!

Get out of chexsystem

15 Banks That Don’t Use Chexsystems | Best Non Chexsystems Banks

It is estimated that around 7% of Americans do not have access to a bank account. Do you belong to that category? Have recently applied unsuccessfully for a new bank account? If so, ChexSystems might very well be the reason why banks reject your application. So you may very well ask the question: what bank does not use chexsystems?

You can, of course, survive without a bank account, and many American households do just that. Many do it by choice, either due to distrust of the financial system or due to privacy concerns. But having at least one bank account can make life a lot easier indeed.

So what is this ChexSystems, and why look at banks without that service? And what banks don't use Chexsystem?

ChexSystems and Banks: A Brief Intro

We all have a fair idea of how the credit system works here in the US. You apply for a credit card or loan, and the lender checks your credit score. This score is kept by information collection agencies called "credit bureaus." Most lenders use scores from these three national credit bureaus to check your credit scores: Equifax, Experian, and the TransUnion. 

ChexSystems is a consumer reporting agency similar to these credit bureaus. But instead of your debt repayment history, it looks at how you handle your deposit accounts. It is estimated that nearly 80% of US banks use ChexSystems score to screen customers who apply for a deposit account.

With credit bureau scores, you at least have the chance of having a positive rating. So getting your name on their rolls can be a good thing for you. But with ChexSystems, it is all bad news, as they only keep a negative score. They are like the criminal records system maintained by the state and police: you are only in there if you have done something wrong.

The sad thing is that you don't have to do anything serious, like intentional fraud, to get your name in the ChexSystems records. It could be anything from unpaid fees/bills and overdrafts, to bounced checks. The system converts all these instances into a score, from 100 to 899. The lower your score, the worse your overall rating.

Alternative Banking Options: The "Other 20%."

If 80% of banks use the system, then it stands to reason that you have a better chance of getting a new bank account with the other 20% that do not use this system. These are credit unions and local/regional banks that do not use Chexsystems or telecheck.

Incidentally, all is not lost if you have a bad ChexSystems score. Yes, all the major banks do base their approvals on this score, but there are several who offer consumers some leeway. These banks provide the option of opening what is called a "second chance account." And it means exactly what it sounds like: you get the chance for a fresh start, but often without all the perks and services available for standard accounts.

15 Banks That Don't Use ChexSystems in 2017

This Alabama-based subsidiary of the European banking giant BBVA has a very lenient attitude towards people with troubled banking histories. They don't look at ChexSystems, and have a generous feature list that includes the following features:

  • Online and mobile banking
  • Free Visa debit card
  • No monthly charges, or annual fee, or fees for mobile and online banking services
  • Smartphone app accessUnlimited checks

Unfortunately, their online application is only available for residents of the following states- Alabama, Arizona California, Colorado, Florida, New Mexico and Texas. For residents of other states, another kind of online checking account is available, but with minor differences. Unfortunately, their services are not available in Alaska and Hawaii.

** Recommended bank for those with ChexSystems problems or Bad Credit **

Try opening a BBVA Compass Free Checking Account! BBVA is one of the top banks in the US and they may give you a REGULAR bank account when you apply online... even with bad credit history or Chexsystems records.

If for some reason, you don't qualify for the regular BBVA checking account, you'll have the opportunity to open the BBVA Compass Easy Checking Account, the most forgiving account designed specifically for those with banking problems....

Learn more about BBVA Second Chance Banking

2. Wells Fargo

Not many top national banks offer second chance accounts. So if you have a bad ChexSystems score, Wells Fargo is your best bet at getting a new account in a bank with pan-US presence. This is one of the oldest and most famous banks in the US, with a broad national and global presence. When you apply, you will get an Opportunity Checking Account, which will thankfully provide every service that a basic checking account provides. It has the following features:

  • Online banking, debit cards, checks, and all in-branch services
  • Initial deposit of $25
  • Monthly service fee of $10, avoidable by maintaining a minimum daily balance/direct deposits/debit purchases and payments
  • You will need to visit your local branch to apply.

3. Green Dot Bank

green dot

Headquartered in Pasadena, California, Green Dot is another option if you want a bank with a national presence. They do not look at ChexSystems score for screening purposes. In fact, they do not look at any major credit scores at all. You have two options with Green Dot:

A Green Dot Reloadable Prepaid Debit Card that functions as a regular bank account. You are free to add cash, withdraw cash, or spend it using the card. There are small fees involved. You can apply online for this card. 

A Go Bank Checking Account that can be applied for at WalMart, online, or through the Go Bank app. Sign up is free online, and there are monthly fees that can be waived by making direct deposits. No minimum balance or overdraft/NSF fees are required. 

4. Woodforest National Bank

Woodforest Bank

This is one of the larger community banks in our list, with a regional presence that spans across 17 states, mainly in the South and the Eastern seaboard. They do look at ChexSystems, but for those with banking troubles in their past, they have a second chance checking account. There is no online option, and you will have to personally visit one of their branches to apply. The features include:

  • Branches in Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, New York, North Carolina, South Carolina, Texas, Ohio, Pennsylvania, Virginia, West Virginia.
  • Minimum deposit of $25 only, with a one-time fee of $9
  • Monthly fee of around $10

5. Navy Federal Credit Union

This option is exclusively for serving and retired members of our armed forces. If you have a service record in the Army, Marines, Navy, Air Force, Coast Guard, Army and Air National Guard, you are eligible to apply. Their services are also open to DOD employees and contractors, as well as family members of veterans/active personnel. If that includes you, then you have access to banking facilities that are available all over the US, in nearly 300 locations

This Credit Union does not check ChexSystems scores. You get access to a full package of banking and financial services, including a free checking account with zero minimum balance requirements. You will need to visit the local branch in person with all required records and documents to apply.

6. Capital One

capitalone

Capital One is a client of ChexSystems, and they do check your score when you apply. But as long as you have a positive credit score and haven't indulged in any serious banking fraud, they are willing to give you the benefit of the doubt. So they can be considered among the online banks that don't use Chexsystems. They are based in Virginia and have one of the largest banking systems in the US. So, even if you have a poor score, you should at least give it a try. Here the link to sign up. If eligible, you will get an online 360 Checking Account, which has some excellent benefits:

  • Online banking and mobile banking
  • Free Master Card debit card
  • Overdraft functions
  • No minimum balance, or fees

7. PNC Bank

PNC bank

This regional bank, headquartered in Pittsburgh, is a real behemoth with branches in nineteen states and the District of Columbia. They are the fifth largest banking entity in the US regarding a total number of branches. They do use ChexSystems, but offer a second chance account, called Foundation Checking to their clients. But there is a small catch: you will have to apply in person, and then pass a 90-minute online course in Money Management. For all that trouble, you will get an account with the following features:

  • Branches in Alabama, Delaware, Florida, Georgia, Kentucky, Indiana, Illinois, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia, West Virginia, Wisconsin, and the District of Columbia.
  • Online and mobile bankingVisa Debit Card
  • Opening deposit with a minimum balance of $25
  • Minimal monthly charges ($7)

8. United Bank

They are a small regional bank based out of West Virginia, with branches in West Virginia, Maryland, Ohio, Pennsylvania, Virginia and the District of Columbia. They don't bother too much about a bad ChexSystems score. If you are a resident of the states mentioned above, they can be a great option. You do get some nice features with their United Free Checking account:

  • Free Visa card
  • Online bill payment facilities
  • Mobile banking options
  • Zero fees, or minimum balance requirements
  • A basic minimum online deposit of $50.

9. TD Ameritrade

Ameritrade is not a traditional bank, but a brokerage firm that offers online trading options in stocks, financial securities, and mutual funds. As a part of these services, they also provide lending and cash management services. The TD in their name refers to TD Bank, the largest shareholder. When you open a brokerage account in TD Ameritrade, you get the option to add checking account facilities. They come with the following benefits:

  • Free debit card
  • Online bill payments
  • Zero monthly fees
  • No minimum deposit required

Now, this method is an indirect way to get access to a checking account facility. So far, there have been no indications that Ameritrade uses ChexSystems, but this situation may change in future. So please keep that in mind when you apply online for a brokerage account with them. 

10. TCF Bank

tfc bank

They are a small Minnesota based bank, with branches in 380 locations in eight US states. If you are a resident of Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, South Dakota, or Arizona, they may be a good option to look at. They do look at ChexSystems, but as long you do not owe them any cash, you should be okay. They do take exception to poor EWS scores, if you are messed up on that front, this may not work out for you. Otherwise, their TCF Free Checking Account is quite good, with the following features:

11. First Convenience Bank

       First National Bank Texas

first convenience

They are regional bank based in Texas with services available in the states of Arizona, New Mexico, and Texas. Since they do not bother with ChexSystems, EWS or any other databases, if you have bank related troubles, they may be a great option. Though they are restricted to the three southern states, they have over 300 branches all across the region. There is an online application option, but the account does come with some minor restrictions:

  • Minimum daily balance of $100, failing which $12 monthly fees
  • Direct deposit of $100 can also be made monthly to avoid fees
  • New account with just a $1 balance available

12. Washington Savings Bank

Washington Savings Bank

They are Lowell, Massachusetts, based bank with over 120 years of operational history. This might be a good option if you have banking related troubles and stay in the state of Massachusetts. They only have two branches, one in Lowell and another in Dracut, MA. Despite being such a small bank, they do check your ChexSystems score.

But as long as you have no criminal history, or fraud related activities, and do not owe the system more than $2000, you can get their Online Rewards Checking Account. But you do need a direct source of deposit, either from your employer, or any government source. The account comes with:

  • Free debit card with free access to Allpoint ATM locations
  • Checkbook
  • Ability to convert to a regular account after a year of positive account history

13. Fifth Third Bank

fifth third bank

They are a mid-sized regional bank with operations in eleven states, and headquarters in Cincinnati, Ohio. This is a bank without Chexsystem for their Express Banking service. They may be a good source for quick access to banking if you are a resident in any of the following states- Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, and Wyoming.The service comes with the following features and benefits:

  • Discounted fees for select services up to 50%
  • Check cashing and deposit at own branch locations
  • Mobile banking and online services
  • Debit cardWestern union money transfer, cashiers checks and many more features

14. Corporate America Family Credit Union

This regional credit union offers a Fresh Start Checking account for people who are prevented from gaining access to banking due to poor ChexSystems scores. If you live in any of the 12 states mentioned here, this credit union might be a good option. Their branches are active in Texas, Arizona, California, Connecticut, Georgia, Kansas, North Carolina, Ohio, Pennsylvania, and Virginia. 

All you need to do to gain access to their checking account is to join their credit union, and deposit and maintain a minimum balance of $100. They do charge a monthly fee of $10 for their services.

15. Unify Financial Credit Union

They are a large credit union with a history stretching back to the 1940s. They have a nationwide presence, with branches in 16 states, including Alabama, Arkansas, Arizona, California, Colorado, Indiana, Kentucky, Michigan, Missouri, New Jersey, Nevada, Tennessee, Texas, Utah, Virginia, and West Virginia. If you want a fresh start in banking, without ChexSystems, they offer the Right Start Checking Account service. They are one of the biggest non ChexSystems credit unions. You can start building a positive bank history, with the following features:

  • Free access to online banking and mobile banking
  • $25 deposit with zero minimum balance requirements
  • Overdraft protection up to $250

What Big Banks Use (Or Don't Use) Chexsystems?

Does Bank of America use Chexsystems?

Does Chase use Chexsystems?

Does Wells Fargo use Chexsystems?

Does Citibank use Chexsystems?

Does US Bancorp use Chexsystems?

Does BNY Mellon use Chexsystems?

Does BNY Mellon use Chexsystems?

Does HSBC use Chexsystems?

Does PNC Bank use Chexsystems?

Does Capital One use Chexsystems?

Does TD Bank use Chexsystems?

Conclusion

Lacking access to banking can have a devastating effect on your finances.  But you don't have to let a poor ChexSystems score block your access to essential banking services. Wherever you are in the US, there are always affordable and lenient banking services available near you.

So, getting a checking account while on chexsystems is not that hard. All you need to do is look for banks that don't use early warning services. This article should have adequately answered your question: "what banks don t use chexsystems?"

We really hope this list will give you options to start rebuilding your banking records for a more prosperous financial future. Thanks for visiting, and all the best!

Check out the BBVA Compass Free Checking Account! It's the best alternative to access to a REGULAR bank account. And the best part, you can apply online!

If you don't qualify for this one, you still have the opportunity to open the BBVA Compass Easy Checking Account, another good alternative for those with banking problems....

Banks that dont use Chexsystems report

The Ultimate Guide to Non ChexSystems Banks


Introductions


It is challenging to find a bank that will accept you after you have had issues with your checking account. This is so because most banks use ChexSystems to track your checking history when you apply for an account. However, there are banks that will still accept you even with a bad ChexSystems record as can be seen on our list later on this guide.


There are many reasons why you can be banned from financial institutions including insufficient funds and excessive overdrafting among others as seen on ChexSystems [10]. You have different options, mostly in online banks that don´t use ChexSystems to qualify applicants. Each of these banks offer different perks.


Having a no Chex Systems banks account is paramount even when you have an active account with a bank that uses ChexSystems. Sometimes, banks that qualify applicants with the ChexSystems may conduct a sweep and you end up having no records. This can trouble you when your account has been frozen and you had all your money there; it takes as much as 30 days for you to access your account.


Irrespective of your past in finances, you can still access banking services. We have prepared a list of the banks where you can take your bad ChexSystems records. However, just like any other business, the terms of service of these banks is bound to change.


Understanding ChexSystems and ChexSystems Records


So, What is ChexSystems and how does it affect you?


ChexSystems is a database that financial institutions use to determine whether applicants are too great a risk to them [1]. The system is regulated by the Fair Credit Reporting Act. Banks report to the ChexSystems when one of their customers is having issues, which may lead to bank account closure or the customer is having overdrafts.


This system should not be confused with credit reports; the ChexSystems does not have a history of your bad or your good behavior, and instead, features all the issues you have had with banks in the past. A bank can report you to ChexSystems if you have repeatedly bounced checks, if your account has been closed due to negative balances or you lied when opening a bank account.


What Does Your ChexSystems Record Contain?


A ChexSystems record is a database that states all the issues you have ever had with banks. The record will state whether you owe money to another bank, clearly stating the reason. The record stays online for up to five years. You can request for your ChexSystems report if you have been denied an account in the past six months.


I Have A ChexSystems Record And I Need A Bank Account , What Should I Do?


Once you have been reported to the ChexSystems, most banks, except non ChexSystems banks will bar your applications, but there is still a way to get a bank account as explained below.


1. Signup With a Bank that does not Check ChexSystems


There are banks that consider your credit history when approving your application while others use other criteria but never the ChexSystems [2]; you can choose one of these banks and open a regular account with them. One of these banks, and the one we recommend is BBVA Compass ClearChoice Free Checking Account.


The good thing with BBVA is that it considers people with ChexSystems records and even has services crafted for them. With BBVA, you are guaranteed of a fully-featured checking account with no limitations at all. If, for any reason, your BBVA checking account application is denied, you will be offered the chance of opening a Compass Easy Checking Account, which is a second-chance account. The Compass Easy Checking Account is crafted specially for people with ChexSystems issues.


2. Open a Second Chance Checking Account


If you have ChexSystems issues, there are banks that offer you a redemption chance with a second chance account; this account and its features are crafted for people with ChexSystems records. Here, we recommend BBVA'S Easy Checking Account. This account is designed to take those with credit and ChexSystems issues [3]. First off, however, you need to apply for the regular BBVA Free Checking account; if it is approved, your problem is solved. If your request, however, does not go through, consider the Easy Checking Account.


The latter is different from the Free Checking account in that there are a few limitations and you will be required to pay a meager monthly fee. This is not different from applying for a non-free checking bank account from most mainstream banks.


3. Dispute Your ChexSystems Record And Get Out Of It


To solve the whole problem, however, you can dispute your ChexSystems record and have it removed. This is a great way because it gets rid of the problem once and for all; you can now apply to any bank you want. However, it is important to realize that though banks like BBVA do not concentrate much on your ChexSystems record, they check other services that keep track of your credit.


Before disputing your ChexSystems report, therefore, it is important that you check your credit score and know where you stand. Even after disputing your ChexSystems record, with a bad credit score, you may not get to open an account [4]. If you have a bad ChexSystems record and a clean credit report, your chances of successfully disputing your ChexSystems record are high. Note that ChexSystems and credit reports are not related.


4. Other Alternatives When You Failed to Open a Traditional US Bank Account


If you cannot open a traditional checking account with a bank, you should consider online and mobile savings accounts. These operate like banks online only with a few limitations. There are a high number of accounts that you can operate online and on your mobile without the need to have a good credit score or even when you have ChexSystems systems. Unlike traditional banks, online and mobile banking services do not require your presence at their premises.


With this option, you may not save or withdraw a large sum of money. A good example is eWallet, Prepaid cards and Bitcoin among others.


Best Banks That Don't Use ChexSystems in 2017


The non ChexSystems bank list below outlines renowned banks that allow you to open an account even when you have ChexSystems record.

1. BBVA Compass ClearChoice Free Checking

BBVA Compass


BBVA Compass is one of the most renowned 25 banks in USA. However, the bank only operates in 7 states. It features in this list thanks to its great features and the fact that it accepts those with ChexSystems problems. The bank, which has been in operation since 2007, has a total of 688 branches with half of these being in Texas.


If you live in Texas, Alabama, New Mexico, Colorado, Florida, California and Arizona, you can access the services offered by BBVA. Anyone living outside these states cannot access the services of the bank. The BBVA free checking account is a good choice if you live in any of these seven states.


BBVA offered five checking account options for you to choose from. The basic of them all is the free checking account, which is what we recommend you start with. There is also a paid checking account for those who cannot access the first account due to their ChexSystems record; this is the Easy Checking account. There is also an interest checking account that you might consider. If you need a prepaid debit card, you might consider the BBVA ClearSpend Prepaid Visa Account.


There are lots of benefits associated with BBVA Compass Checking accounts. When you have an account with the bank, you get the following benefits and features:

• Low interest rates when you borrow money

• Appealing service standards in the Sunbelt region

• Intuitive apps that sport all basic features you would need

• Strong online and banking security

• You can get a free checking account with no maintenance fee

• You only need to deposit $25 for checking account opening

• 1000 BBVA ATMs available for withdrawals

• Free online, mobile marketing and bill pay

• Unlimited check writing

• Free Visa debit card featuring a personalized photo


There are premium checking accounts available for those who are interested. With a premium account, you get 2 automatic rebates on ATM fees and your money earns interest. This premium checking account costs $15 while the interest checking account costs $25 a month.


As earlier mentioned, the standard BBVA checking account is offered free. It is the first one that users try opening and only move to try others when the free account has been denied. BBVA Compass has 1000 ATMs. Ergo, you need to ensure that there is an ATM machine near you lest you are charged $2.50 for withdrawing from an ATM not in the network. You can also check from a few stores to see whether they offer cash-back with any fees.


A free checking account is full-featured:

• Open with only $25

• Mobile banking with a mobile app

• Free online banking

• Pay bills

• Free paper and online statements

• Unlimited check writing


There are no monthly service charges with a free account and there are no charges for using the BBVA ATMs.

2.BBVA ClearConnect Checking

bbva wallet


One of the reasons why we recommend BBVA is that it offers convenience. The ClearConnect checking account works with BBVA Wallet; this is an app that lets you manage your money by creating a budget that goes with your needs and your available money. This is a straight forward account that does not require any service fees.


This is one of the best accounts which worked with a savings or any other account with BBVA. Features include:


• No monthly and no annual fees

• No credit check

• Free online banking and mobile deposits and banking

• Customizable alerts

• Online and paper statements for free

• Unlimited check writing

• Minimum opening balance of $25

• Access to BBVA Wallet app for convenient banking

• No ATM fees

• No ChexSystems considerations


3. Capital One 360

capitalone

Opening a Capital One 360 account is easy even with ChexSystems record. The bank considers your ChexSystems record but that is not the only thing they check; they also check your credit score and your EWS report too. Unless you have been reported to have a history of fraud, you can open an account with this bank.


A while ago, Capital One 30 used to be the go to bank when people had ChexSystems records, but the bank later changed its policies becoming a little bit stricter. If you happen to have bad credit and ChexSystems record, you will be rejected. Features:


• No monthly or annual fees

• No account minimum

• Mobile check deposits

• Accrue interests with rates starting 0.2 percent


4. Discover Online Saving Account

Discover

This is a high interest option. The bank offers you a chance to open an account even with ChexSystems but just like Capital One 360, the bank policies are a bit strict and you may get rejected; this is especially true when your credit report is bad. The bank offers you a chance to store your deposits and also to access online services at the comfort of your home. Main features include:


• Minimum initial deposit of $500

• You do not have to maintain the minimum savings after opening the account

• Gain interests of up to 0.95 percent annually

• No account opening fee

• No account maintenance fee; either monthly or annually

• Direct deposits and check deposits can be done on phone


Besides the high minimum initial deposit of $500, the account offers you a great chance to bank and enjoy great features including high interests.


5. Washington Savings Bank

Washington Savings Bank

This is one of the banks in this list that uses ChexSystems but it is less stringent as compared to other banks. The bank allows you to open a Rewards Card Checking Account. However, you have to have criminal or fraud records. Again, your former account charges should be less than $2000. You will be charged $9.95 as monthly account maintenance fee and recurring direct deposits every month.


The account offers:

• Unlimited Checks

• MasterCard Debit card

• Free use of Allpoint ATMs

• After a year of having a solid report, you can apply for an account with lesser fees.

6. Renasant Bank

Renasant Bank


This is a bank for those who reside in Mississippi, Tennessee, Georgia and Alabama. The bank does not consider ChexSystems, EWS or Telecheck when approving your account, but instead ,offers you an account as long as you do not owe any money to any bank. You will require a minimum initial deposit of $50 and a monthly maintenance charge of $7.50 unless you are able to keep your monthly deposits above $500.


7. Navy Federal Credit Union

Navy Federal Credit

True to its name, this bank serves active and retired members of the military. These include National Guard, Armed Forces, Coast Guard and Department of Defense. If you are in this category of bank customers, NFCU offers you a great option. It does not use EWS or ChexSystems when approving your application. Opening an account with NFCU does not require an initial deposit and you will be offered a free checking account; no monthly or annual maintenance fees.


8. People Cash Solutions


As long as you don't have a history of fraud, you can get an account with People Cash Solutions with ease. This is a bank that accepts individuals with Telecheck and ChexSystems records. Even better, the bank offers an account to people with bad credit and those who are bankrupt. People Cash Solutions charge a monthly fee of $4.95 and it offers unlimited checks and a MasterCard debit card.

9. TD Bank



This is another option that offers an account to those with ChexSystems record. TD Ameritrade account is an account crafted for those with ChexSystems. There is one catch though, for you to open Ameritrade account, you need to have opened a brokerage account. Once you have created a brokerage account, you can sign for a checking account separately. TD Bank operates as a brokerage.


Features

• No minimum deposit

• Unlimited checks

• Free debit card

• No monthly fees

• Pay bills online

• Deposit directly


10. TCF Bank

tfc bank

TCF is a bank for those who reside in Colorado, Arizona, Michigan, South Dakota, Wisconsin, Illinois and Minnesota. The bank allows you to open an account as long as you do not owe the bank. However, TCF considers EWS records and your application may be rejected based on that.


Features:

• Minimum initial deposit of $25

• No minimum daily balance

• No monthly fees

• Unlimited checks


11. United Bank

United Bank

United is one of the banks that do not check ChexSystems at all. The bank operates in Maryland, Ohio, Virginia, Pennsylvania, Washington DC and West Virginia. After opening the checking account, you can upgrade to a rewards checking account that allows you to earn discounts and cashback rewards on theme parks, movies and prescriptions.


• $10 monthly maintenance fee

• Minimum initial deposit of $50

• Maintenance fee waiver after 15 monthly purchase transactions or with $500 minimum monthly deposits

12. Fort Sill National Bank

Fort Sill


FSNB is a great option; it does not use ChexSystems and it does not require you to be in the military to apply. You will get a free checking account once you are approved. You will require $5 minimum initial deposit. Though the checking account is free, you will require a daily minimum of $75, otherwise, you will be levied a charge of $5.50 every month. The bank offers you a free Visa CheckCard and you have access to online banking services.


13. First Convenience Bank

first convenience

First Convenience Bank operates in New Mexico, Arizona and Texas. They offer a free non ChexSystems checking account if you maintain a daily minimum of $100 otherwise, you will be charged $12 per monthly account maintenance fee. If you have a recurring minimum deposit of $100, you will also enjoy a free account with no maintenance fees. When applying for the account, the bank does not consider ChexSystems, EWS or even Telecheck. You will require a minimum initial deposit of $1.


14. Suntrust Bank


Suntrust has been recorded as using ChexSystems; it depends with the severity of the ChexSystems issue that you have. If you have had fraud issues, you cannot get approved. The bank offers a variety of checking account to their customers, but with ChexSystems record, you should start with Essential Checking Account.


Checking accounts are free; all you need to do is meet one of the conditions the bank has set. If you fail to meet the conditions, you pay a monthly account maintenance fee of $7. The conditions state that you must maintain a minimum deposit of $500 or have a minimum recurring monthly deposit of $500.


15. USA Free Checking

US Bank

USA is a bank for military families serving retired members of the military, their spouses and their children. The bank also serves members of the National Guard. To start with, you will need a minimum initial deposit of $25 and you are not required to maintain any minimum balance. The bank does not require any monthly services fees. Once your account has been opened, you can take advantages of free ATMs, overdraft protection and mobile check deposits. Though the bank does not use ChexSystems, it uses EWS when screening applications.


16. Wells Fargo


Wells Fargo is a national bank and is available for almost everyone. The bank offers Opportunity Checking and though it has a horde of restrictions, it can help you keep track of your money when you are in need of help. The minimum initial deposit is $50 and you will have to pay a monthly service fee of $10. However, the service fee can be waived if you maintain a daily minimum balance of $1500 or if you maintain a minimum recurring monthly deposit of $500. This account comes with two unique features;


• Budget Watch

• My Spending Watch Report


17. Woodforest Bank

Woodforest Bank

Woodforest is for Texas residents; it is a regional bank. It offers you a chance to open an account when you have ChexSystems record and even offers second chance checking accounts. You will be offered an account when you walk into any of the bank branches. With Woodforest, the minimum initial deposit is $25 and you will be required to pay a one-off account setup fee of $9. With direct deposits, the monthly service fee is $9.95 and without direct deposits, you pay a monthly fee of $11.95.


Second Chance Checking Account


Second chance accounts act like bridges between the world of banking and those who do not have access to banking services solely because of their past finance history. There are about 16 million Americans without access to banking services.


Banks will always reject applications due to the applicants' flawed financial history. Second chance checking accounts offer you fresh start checking. When you do not have a bank account, you tend to rely on prepaid debit cards and check cashing services, which are costly. With banks that offer second chance banking, you are guaranteed of low or even no minimum balance requirements. The benefit is that you can upgrade your second chance account to a regular account of your choice and do not have fees or negative balances within a period of 1 year.


Unlike regular checking accounts, second chance accounts come with more limitations and have monthly service fees that cannot be waived. These accounts help you rebuild your banking history but they do not have any impact on your credit report [5].


Non ChexSystems Credit Unions and banks that don't use early warning services differ from banks offering second chance banking. Second chance banking will be offered by any bank whether it uses ChexSystems or it doesn't.


Best Second Chance Bank Accounts


Below is a list of second chance banks that offer you a place to start.


1. BBVA Compass Bank


BBVA offers Free Checking account to those with ChexSystems problems. Unlike other banks, BBVA does not impose all the limitations that other banks impose on account holders. There are three checking accounts you can open with BBVA; Free Checking Account, Easy Checking and Clear Choice Savings.


When you have ChexSystems, apply for the basic second chance checking account, the Free Checking Account, if your application is denied, move on to apply for other account such as the ClearChoice Savings Account. The ClearChoice account is for those who want to earn interest with the money that sits in their bank account. The account is free if you are able to maintain a daily balance of $500 or more or you are able to transfer at least $25 every month from your checking account to your ClearChoice account.


BBVA's Easy Checking account is like the official second chance account. If your applications for the free checking and for the ClearChoice accounts are rejected, you will have a chance with the Easy Checking Account. With this account, you get:


• To Pay monthly service fee of $13.95

• Unlimited check writing

• Online and mobile banking

• Bill pay and free online statements

• $10 personalized BBVA Visa debit card

• Free ATM use

• $3 for paper statements


2. People Cash Solutions


This bank offer redemption when you have ChexSystems record, EWS or Telecheck. It is one bank that takes in all customers as long as they do not have a history of fraud. The bank even takes those who are bankrupt and those whose credit report is bad. Only a service charge of $4.95 per month will be levied.


3. US Bank


The US Bank poses as one of the most popular 25 banks in the US. There are a host of stories and testimonials online with consumers saying that they were able to open a bank account even with bad credit. The bank considers ChexSystems but not as strictly as other banks, and thereby offers second chance banking at a monthly service fee.


4. Woodforest Bank


Woodforest offers an account specially designed for those with ChexSystems, EWS and Telecheck problems. Their Second Chance Checking offers a great chance or redemption to those with problems. There are limitations and service fees and on top of that, you get unlimited checks, a personalized debit MasterCard and regular banking features. Nevertheless, you will not be able to access bank services online and you have to go to the bank in person. Unfortunately for consumers, this bank is not a national bank and it is not available in most states.


Dispute Your ChexSystems Record And Get Out Of It


Sometimes the bank can accuse you wrongly and you end up with a ChexSystems record. As seen on Perfectfitness , if your ChexSystems report is inaccurate the bank and other information provider will have no option but to correct the information. You can appeal in three easy steps:


1. Get a Copy of your report


The first step is in verifying the information on your ChexSystems report; print a copy from ChexSystems and go through it screening all the details to look for any inaccurate information. If any of the information offered on your report is not accurate, you will need to get the necessary documents as evidence [6].


2. Write to ChexSystems


When a part or the entire report contains inaccurate details, you will need to write to ChexSystems informing them of the wrong details provided on their database. When writing a letter to ChexSystems, include the necessary documentation as proof of inaccuracy. The letter needs to be detailed and precise, outlining all the information that is wrong and why you need it withdrawn in entirety. The best way is to include a copy of the report you earlier acquired highlighting the inaccurate details.


3. Contact Bank or Credit Union Involved


You can contact the bank or the credit unions involved and ask them to rectify the information they provided ChexSystems. Disputes can also be handled on phone but provision of documents for evidence will have to be done by mail. When sending a letter to the bank or to ChexSystems, ensure you use certified mail as you will have a proof of delivery.


What Happens after You Dispute?


It will take ChexSystems between 30 and 45 days to investigate your claims. If your claim does not have the necessary evidence backing, ChexSystems will ignore it, and no investigation will be done. In case your documents look realistic, an investigation will be conducted and the findings sent to the reporting institution or bank for further action. The reporting institution will confirm the claims and send their findings to ChexSystems, which then removes your record or declines the claims.


What Other Alternatives Are There When I Failed To Open A Traditional US Bank Account?


Sometimes, getting a checking account while on ChexSystems is a challenge. You may wonder what bank does not use ChexSystems and after finding one, other factors such as credit report fail you. This is where you resolve to using other methods. However, some of these alternative banking methods are a bit costly.


1. Prepaid Cards


Prepaid cards are easy to get since there is no credit check and there is no ChexSystems check. They offer a way to manage finances [7]. However, most of the cards charge relatively high fees for services such as withdrawals. Again, the cards do not impact your credit report. Generally, you will never find a prepaid card without fees, but their benefits outweigh their disadvantages.


2. Secured Credit Cards


A secured card allows you access to services you would get with a traditional bank account. Approval is easy as no credit check is required. With the card, you can make deposits, you can pay your bills, wire money, money order or check, and a number of other services. The good thing with the cards is that they contribute to your credit score.


3. eWallet


Online Money savings and transfer services have grown tremendously in the past few years. The services allow you to make digital transactions; you can deposit money, send it or even use the account for savings [8].


4. Brokerage/Money Market Accounts


You can invest with your money by opening a brokerage account. Though this is not the best option when you frequently withdraw money, it is an option that allows you to save the money and access it later, having grown.


5. Foreign Bank Accounts


This is a good option especially if you transact a lot of money. You can choose international or foreign bank accounts in other countries. The good this is, ChexSystems will not apply there and you will be screened against a different criterion. However, most foreign banks will consider your credit report.


6. Bitcoin


This is digital currency. Just like when you are running an eWallet account, transacting in Bitcoins does not require a credit check and does not require ChexSystems. You only need to load Bitcoins and start transacting. You can save bitcoins and you can deposit, withdraw or send.


Conclusion and My Recommendation


If you appear on ChexSystems, you can dispute, have a bank that does not consider ChexSystems or open a second chance account. If all that fails, look for other options that do not involve a conventional bank such as eWallet. It is recommended that you always check your checking history [9].


However, before you resolve to use costly options as prepaid cards, you should check out BBVA Compass. The company will offer you redemption while allowing the privilege of enjoying services you would otherwise enjoy with a regular bank account. I recommend BBVA Compass.


Citation Links


[1] https://en.wikipedia.org/wiki/ChexSystems


[2] http://www.huffpost.com/us/entry/14112114


[3] https://aaacreditguide.com/no-chexsystems-and-second-chance-banks/


[4] https://perfectfinances.com/get-out-of-chexsystems


[5] http://m.wikihow.com/Get-a-Second-Chance-Checking-Account


[6] http://www.wikihow.com/See-if-You-Are-on-ChexSystems-List


[7] http://www.huffpost.com/us/entry/5823586


[8] http://www.mypaymentsolutions.com/2011/11/advantages-ewallets/


[9] http://www.investopedia.com/articles/personal-finance/022216/checkingaccount-history-make-sure-its-ok.asp?lgl=myfinance-layout

[10] www.chexsystems.com