- If you’re looking for second chance checking or non-chexsystems banks and credit unions you’ve reached the right place.
- If you’re questioning “Do Credit Unions use ChexSystems?” Yes! Some credit unions use ChexSystems to open new accounts but may offer second chance checking accounts for people currently in ChexSystems.
- Discover fresh start checking accounts in your State that give you the chance to rebuild your checking account history.
What is second chance checking
A shaky banking record is not a barrier with second chance checking accounts. In many situations, it can be hard to find banks that don’t use ChexSystems near you.
Second chance checking simply means a bank or credit union offers specific accounts designed for people with ChexSystems or Early Warning Services records and who may even need a bad credit bank account. ChexSystems and EWS are consumer reporting agencies that maintain blemishes you’ve encountered at past banks and credit unions.
Even if you have a good income, many traditional banks may deny access to a checking account if you have ChexSystems or EWS records. It can be challenging to keep track of your finances without a checking account.
Start on a path to rebuilding your banking history with second chance checking.
Second Chance Checking “Near Me”
If you’ve searched for “second chance checking near me” then the list below is for you. Click on your state to find second chance checking accounts at banks or credit unions in your area. There are also nationwide banks offering second chance banking primarily through online checking accounts.
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
Use second chance checking to rebuild your financial health
Negative banking histories reported by ChexSystems, EWS and others effectively blacklist millions of Americans for banking mistakes. There’s little opportunity to rebuild your banking history unless you take advantage of second chance checking.
With over 80% of financial institutions rely on checking account reporting companies, second chance banks or non-ChexSystems banks are among the few options.
Rebuild your financial health using second chance checking. According to a 2017 survey by the FDIC, 25 percent of U.S. households are unbanked or underbanked.
Why prepaid debit cards are not a long-term solution
Prepaid debit cards can act as a checking account but when you need additional financial resources, you’re going to hit a wall. First, let me say that prepaid cards can help you manage your money efficiently because they only let you access funds that you load onto them before spending.
However, prepaid debit cards are very different from traditional checking accounts. Most banks and credit unions offer additional money management products such as overdraft protection, overdraft line of credit or a back-up savings account. While prepaid debit cards may work for a while, they are not a long-term solution as they have significant limitations.
When you want to get back on track with your financial health, second chance checking offers the best solution. Building a healthy banking relationship with a bank or credit union means access to personal, mortgage or business loans, multiple savings vehicles like high-interest savings accounts, CDs, money market accounts and perhaps even retirement account options like IRAs.