Online banking is gaining in popularity. It is convenient, hassle-free and safe. But banks that do not use ChexSystems are difficult to find.
A Chexsystems report, paid or unpaid, can remain for up to 5 years. You need a place to save money and build wealth, even if you have a Chexsystems record. Prepaid debit cards restrict you from saving money in addition to being costly.
Open an online free checking account that does not use ChexSystems and start saving money today.
Here are three online checking accounts that do not use ChexSystems:
Consider a brokerage account. TD Ameritrade is not a traditional bank account but a brokerage firm. If you are in ChexSystems or Early Warning Services you may want to consider this type of account. They do not run ChexSystems, EWS or a credit report. TD Ameritrade offers a Cash Management account that comes with a TD Ameritrade Visa® debit card with free ATM withdrawals.
Set-up direct deposit and online bill pay. Customers get reimbursed for any ATM charges nationwide. There are no fees associated with the Cash Management checking account, no minimum balance requirements and unlimited check writing with 100 free check re-orders.
The process is really simple and painless. It takes about 15 minutes to complete. First open the brokerage account and once that is open you are given the option of opening a Cash Management Checking Account. There is no minimum deposit required and you do not have to immediately fund the accounts. You will be offered several funding options that can be completed at a later date.
Earn a $50 bonus when you open a Capital One 360 Checking Account. Free ATMs and no overdraft fees. Capital One will pull your credit if you request the overdraft line of credit which allows customers to write checks or use a debit card for more than their account balance and pay back the overage in monthly payments. You do not have to have good credit to be considered for the overdraft line of credit.
Capital One 360 Checking Account features and benefits:
- Your FDIC-insured Deposits Earn Interest – Your everyday money shouldn’t cost you, it should help you save too
- P2P Payments – Send money securely to family and friends. It’s Fast and free.
- Free MasterCard® Debit Card for all purchases
- Free Online Bill Pay
- Free access at over 38,000 Allpoint® ATMs
- Free postage – we’ll mail your paper checks for you
- Checks – Can’t pay electronically? Order a checkbook
- Deposit Checks – Use our mobile app or your computer to deposit checks from anywhere with CheckMate℠
Put your money to work with an Everbank account. First time account holders can get a 6-month bonus rate of 1.25% with the EverBank® Yield Pledge® Checking Account. The 1.25% APY rate is fixed for the first six months of new account holders. Everbank runs your credit and your credit score should be 660 or above.
The minimum opening balance for the EverBank® Yield Pledge® Checking Account is $1,500 but you do not have to maintain the $1,500 balance once your account is opened. You will earn the 1.25% interest no matter what your balance once your account is opened.
Everbank offers a satisfaction guarantee. If you are not 100% satisfied with the EverBank® Yield Pledge® Checking Account after 3-months, they will send you a check for $50 to show how much they appreciate you giving them a try.
EverBank® Yield Pledge® Checking Account features and benefits:
- Low $1,500 initial-deposit requirement
- No Minimum balance to Earn Interest
- No-fee Online and Mobile Banking
- Free Mobile Check Deposits
- EverBank will reimburse all US ATM fees when you keep an average $5,000 daily balance each month
- Overdraft Protection Available
- Optional Online Bill Pay Available
- Account covered by FDIC insurance up to $250,000
An online checking account may actually help consumers with a Chexsystems record as online management tools allow customers to see the full account details at any time. With instant alerts and updates it is easier to keep up with transactions and avoid mishaps that may land consumers in Chexsystems.