Chexsystems works like a credit bureau. If a bank reported you to Chexsystems in the past 5 years, you will have a difficult time opening a new checking account. If you keep applying for bank accounts and get denied, this information is also reported to Chexsystems. Before you apply, it’s best to know which banks do not use Chexsystems.
Some banks are willing to give you a second chance. You can apply for a new, second chance checking account with a bank that has a fresh start checking account:
- BBVA Compass Bank
The BBVA Compass Clear Choice Checking Account has no monthly service charge. You also get free online and Mobile Banking with Bill Pay, free online and paper statements, unlimited check writing and no fees on BBVA Compass ATMs.
The Everbank Online Checking Account offers all the Convenience of Traditional Checking Accounts as you earn a high Interest rate on your checking account balance. You also get free online banking and mobile banking, along with easy access to your cash. There are no monthly fees and your EverBank® checking account is FDIC insured.