02.25
Unable to open a new bank account because of the ChexSystems network? You certainly are not alone. More and more people are finding themselves banned from the banking world because of past financial mistakes. But this doesn’t have to be the case. If you can find a non ChexSystems bank, you can open a bank account.
Without having a bank account, it can be very difficult. Modern society pretty much requires you to have a bank account. If you have committed some past financial sins or you owe your bank money, your bad banking history can follow you from banking institution to banking institution.
People who owe banks money or who have a history of bank fraud are added to a database of risky bank clients. Most banks will check your name off against this list when you apply for a new bank account. If your name turns up, you will be banned from the banking world.
So what can you do about it? You can find a non ChexSystems bank. However, most banks these days do a ChexSystems check, so it’s going to be difficult to get a bank account with bad banking history.
But is there a way around ChexSystems? Yes. You can scour the internet for a list of banks that don’t use the ChexSystems network or you can look at opening a second chance bank account. Second chance bank accounts are special internet bank accounts that don’t require a ChexSystems check. However, these bank accounts are more expensive than regular bank accounts.
A second chance banking account is a regular bank account in all but name. You can do all the normal financial transactions that you do with a regular bank account. These are the easiest non chexsystem bank that you can find. So start searching the web to open one!