The way that you conduct yourself with financial institutions can have a huge impact on your ability to get a bank account. You don't just have to worry about your consumer profile. Nowadays, you have to worry about a system called ChexSystems. ChexSystems is a personal consumer reporting agency for banks. They have a huge database of consumer information that strictly deals with interactions that such a consumer has with a bank.
Telecheck is a similar system that keeps records of issues that arise in checking accounts such as check bouncing and writing checks off of a close account. If you get caught up in the ChexSystems or Telecheck system, you may find yourself having a hard time getting a bank account. Many banks use these systems as their primary source of approving people who apply for accounts. Fortunately, there are non ChexSystems banks in California that can assist you. You can still find an institution that will take a chance on you. You just have to search a little bit.
ChexSystems reports have to do with poor management of funds. Usually, people who end up in ChexSystems are people who have an issue with an overdraft, negative balance or something else that they did not take care of once they discovered the situation occurred. Banks report such activities and balances to the ChexSystems database, and then such consumers have issues getting a bank account. If you have been recently denied a bank account, it may be because a former bank has reported something that is in your past. ChexSystems can keep such information in its system for up to five years if you continue to allow it to linger. You can order a copy of the report so that you can see what the issue is, and then you can take steps to fix it. Alternatively, you can try to find second chance checking California banks.
If you need a bank account, and you are unable to resolve an existing situation, you can search for banks in California that don't use ChexSystems. Such banks use different criteria for qualifying you for a bank account instead of seeking information from the Chexsystems database. You can look for banks who don't use ChexSystems or Telecheckor non ChexSystems credit unions to open your account.
Currently, there are still quite a few banks that do not use the ChexSystems or Telecheck systems to screen people when they apply for accounts. You can review the list of options and then check with the institutions to see if they are still operating in such a manner. When you visit the institution, you should be sure to bring your identification and a large enough deposit to open the kind of account you want to open. After you get your account set up, you will have the opportunity to start fresh and interact with your new bank account in a responsible manner.Jump to top
Allied Irish Bank
Cross County Federal Savings Bank
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Just out of college and ready to move off-campus, Patrick learned he had been a victim of identity theft when he was rejected by the landlord for having bad credit. After years of having multiple credit applications denied and fed up with having to pay security deposits up front to utility companies, Patrick decided to dispute Chexsystems and recover his credit. He educated himself on personal finance for years and, after successfully building up his credit record to a good score, he was approved for a mortgage and was finally able to buy a house in New York, where he now lives with his girlfriend and their dog, Winston.