If you’re in ChexSystems or EWS find a new account at banks in Alaska that don’t use ChexSystems.
According to a 2013 study by the FDIC one group likely to be unbanked and underbanked compared to the population as a whole are American Indian/Alaskan households. In fact, the study showed 25.5% of Alaska households are underbanked while 4.3% are unbanked.
It’s estimated the unbanked can pay from 1-10% of salary for check cashing services – not to mention how prepaid debit card fees add up.
There’s no reason to keep losing money to conduct daily financial transactions. Check out our list of banks in Alaska that don’t use ChexSystems and get back into banking.
A negative ChexSystems record can remain 5 years unless you successfully dispute ChexSystems to get it deleted. For consumers with an EWS record, it can last for 7 years unless you’re able to successfully dispute EWS.
Whether you choose a bank or credit union, Alaska residents have several choices for banks in Alaska that don’t use ChexSystems. Take the time to build a solid banking relationship that will help you grow your money while maintaining a safe place to conduct daily expense transactions.
List of Banks in Alaska that don’t use ChexSystems
Chime Bank is primarily a spending account to conduct your daily expenses that anyone can open. Get paid up to 2 days early with early direct deposit. Other features include no overdraft fees and no monthly service fees. If you need a check written, Chime Bank will create and mail a paper check for you at no charge. No opening deposit required. If you open a savings account too, you can save money when you make a purchase or pay a bill with your Chime Visa® Debit Card. Chime will round up transactions to the nearest dollar and transfer it to your savings account.
A ChexSystems report will be pulled but as long as the item is paid and does not indicate fraud, you will be able to open a checking account. If you only want a savings account a ChexSystems report will not be pulled. They also offer other financial products such as loans and credit cards.
Matanuska Valley Credit Union does use ChexSystems but will open an account under certain circustances: (1) Fraud must not be reported and the reporting bank must be paid.
Mt. Mckinley Bank allows customers who have a ChexSystems report to open a savings account only. No debit card will be issued.
Northrim Bank offers Northrim bank does not use ChexSystems. They offer checking and savings accounts along with debit and credit cards, loans, credit lines and mortgage loans.
A ChexSystems report will be pulled but if the report indicates the item is paid and is not fraud, you will be able to open a savings account. A supervisor may approve you for the checking account once your ChexSystems report is approved.
True North Federal Credit Union in Alaska offers a True Options Checking account even though a credit report and ChexSystems report will be pulled. The monthly fee is $10 and there is no minimum balance required.
You may want to review a List of Second Chance Checking Accounts and Non-ChexSystems Banks in other States.