Open a bank account at a No ChexSystems Bank and can get approved even if you have a ChexSystems record. Living without a bank account is not only inconvenient but also costly. Check cashing fees add up over time and not having a place to grow your money prohibits wealth building.
No Chexsystems banks do not use Chexsystems to open accounts but they may run a credit report, use EWS or Telecheck. A No Chexsystems bank may also have a Second Chance Account allowing consumers with Chexsystems records to open accounts.
No ChexSystems Banks in 2014
Scottrade is a leading online brokerage firm primarily providing investors and traders a platform for trading and they also have a Bank. To open an account at Scottrade Bank you must first open a Scottrade individual brokerage account with a minimum of $500. Once you open the brokerage account you can use the deposit to open a Checking Account. Scottrade Bank also offers Savings accounts, Money Market accounts and CDs.
Scottrade Bank does not use ChexSystems. To open a checking account a deposit of $100 is required. You can transfer the money from your Scottrade brokerage account or you have 60 days to make the deposit from another source. Scottrade has 500+ branch offices, totally free checking, direct deposit, online bill pay, free checks and ATM fee reimbursement. Get started today with Scottrade.
Capital One 360 Checking Account
Capital One 360 Checking account does not run ChexSystems but an Equifax credit report is pulled. The good news is no particular credit score is required to open an account, the credit report is pulled to determine how much overdraft protection you will be offered. I really like Capital One 360 checking because they make it easy to deposit checks directly from your mobile phone or your computer.
There are no hidden fees or minimums required for your checking account plus you earn interest. The account comes with a MasterCard® Debit Card for all purchases and access to 38,000 fee-free Allpoint® ATMAutomatic Teller Machines and 2,000 Capital One® ATMs. Open the Capital One 360 Checking Account today and earn a $50 bonus. There is no minimum deposit required to open the account.
USAA Free Checking
USAA does not use ChexSystems but only serves the military and their family members. If you, a spouse or parent is current or former military you can open an account. USAA verifies customers using Early Warning Services, so if you have a record in EWS you may be denied. The minimum opening balance is $25 for a checking account but you will need to make your initial opening deposit with an existing checking account or a Mastercard.
Suntrust Bank offers several types of checking accounts, all of which include online banking, mobile banking, overdraft services, direct deposit, online bill pay and a SunTrust MasterCard® Check Card. While Suntrust maintains they do not use ChexSystems, some consumers have reported otherwise. It may be best to apply over the telephone or through their online chat service; and, complete the process in full through the mail.
Fort Sill National Bank
Fort Sill National Bank (FSNB) is open to anyone; you do not have to be in the military. FSNB does not use ChexSystems. If you are interested in direct deposit, this may be a good account for you because FSNB may not be located in your state. In order to open an account from any location call their new accounts department at (800) 749-4583 and an application will be mailed to you.
This bank is an internet only bank and a division of River Valley Bank. IncredibleBank offers a a high yield checking account and a high yield CD that can be opened online. This is a no Chexsystems bank but they will run a credit report and require a minimum credit score of 640.
This bank is not available in all states. TCFBank has 436 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota. This bank offers several checking accounts to choose from and business checking. They will open an account for consumers in Chexsystems but you must not owe any money to TCFBank.
Washington Savings Bank
The Rewards Card Checking offers deposit of payroll or government benefit with a monthly fee of $4.95 and $7.95 per month without direct deposit, you’ll receive a checkbook and Mastercard® debit card with no overdraft fees or ATM fees! Free nationwide ATM access at over 55,000 Allpoint®.
Banks will sometimes conduct ChexSystems Sweeps on existing customers and close accounts without warning even if your account is in good standing. Never have all your money in one bank. Because Capital One 360 Checking Account does not use ChexSystems, it can serve as a back-up account if you are still in ChexSystems.
Second Chance Checking
Try the in-store branches and take proper identification along with a utility bill showing your address. Consumers using in-store branches have experienced success in opening checking accounts while in Chexsystems.
This bank is not available in all states; however, they do have an account called “Second Chance Checking. It comes with unlimited check writing and a debit mastercard. You must go inside a branch in order to open this second chance checking account.
Offers a second chance checking account where you get a visa debit card, unlimited check writing and no minimum balance required. The monthly service charge is $13.95 and the minimum opening deposit is $25.
Wells Fargo – Opportunity Checking
This is a traditional checking account with a visa debit card and checks; however, it comes with some restrictions. This account will definitely help you stay within your budget. Deposits cannot be made through the ATM and you may not be able to get cash back immediately upon depositing a check. Once you remain in good standing for some time, Wells Fargo may offer you an upgrade to a regular checking account, with less restrictions.
Chase offers an account called Access Checking. It comes with several limitations but you may be able to convert to a regular checking account after 6 months in good standing. You will receive a debit card with this account. You must go into the branch to open the account and they do pull your credit report for verification.
Peoples Cash Solutions offers a Second Chance Checking Account for consumers who have been reported to ChexSystems or TeleCheck. There must be no fraud activity reported in ChexSystems. Bad credit and even bankruptcy are okay.
Fund an Account or Verify Small Deposits
If you are opening an account online but do not have a way to fund it instantly with another account or credit card, most online accounts can be funded with a prepaid debit card with the Visa® or MasterCard® logo. Or, use PayPal® to add money to your bank account. It’s fairly simple and with PayPal® your account can be funded in 2-3 days.
Safe Check Ordering
Consumers who have been reported to ChexSystems, whether the item is paid or unpaid, should be careful when ordering checks. Ordering checks from well known companies such as Deluxe, Designer Checks, Checks Unlimited and Current Checks may not be safe. These companies share your personal information with ChexSystems. ChexSystems will then report your ChexSystems record to your current bank.
Order checks from companies that do not share your personal information with ChexSystems such as Costco Check Printing, Checkworks or Harland Clarke. Ordering checks from companies that share your information with Chexsystems may end up getting your current bank account closed, even if your checking account is in good standing.
Chexsystems is a consumer reporting agency which means inaccurate information can be disputed.