Pin It

Banks That Do Not Use ChexSystems

jennyjackson | Oct 6, 2010 |

0 Comments | Rating: 0

It's possible to find banks that do not use chexsystems. This is a pretty big deal for people who are locked out of the banking world because of past financial misdeeds. Let's look at how you can get a bank account if your name has been added to ChexSystems.

Internet Bank Account

Yes, you can actually get an online-only bank account. Internet bank accounts function just like a regular bank account. You can find these simply by looking around on the web. Many internet bank accounts don't consult your ChexSystems records when deciding whether you should be given a bank account or not. This means that you are pretty much guaranteed a checking account. However, the cost is literally the cost. Online bank accounts have a reputation for costing more money than do normal bank accounts. So decide whether you are willing to pay more for one of these accounts just for the privilege of having a checking account.

Prepaid Visa Cards

You can get a prepaid visa/bank card that mimics your bank account in certain ways. For basic depositing money and withdrawing money, this type of banking option works pretty well. Mind you, you are only restricted to either withdrawing money (by using the card wherever you might use a regular credit card) or depositing money on the card, but for most things this should be enough.

Non ChexSystems Banks

The other option is to look for banks that do not use chexsystems to screen applicants. I'll tell you that most of the major banks out there use ChexSystems. If you are looking for banks not partnered with ChexSystems, then your best bet will be to look at small credit unions or local banks. In my experience, I haven't found many of the bigger banks that waive the ChexSystems credit check requirement. Most of the non chexsystems banks I've found have been local banks.

When searching for these banks, you will have to directly call the bank itself on the phone and inquire whether or not the bank is partnered with ChexSystems.

So for the people who can't open new checking accounts, don't despair. It's certainly possible to open new checking accounts at suitable non chexsystems banks.