“Can I Get A List Of Banks That Don’t Use ChexSystems?” | Second Chance Credit Accounts

“Can I Get A List Of Banks That Do Not Use ChexSystems?”

People looking for a list of banks that do not use ChexSystems come from all walks of life. In most cases they have been in bad situations and they’ve had checks bounce. The banks that they held their accounts with decided to close those accounts and report the incidents to Chexsystems. So those financial problems that you’ve had in the past can potentially follow you for years. This is because ChexSystems is a company that maintains a database of all the “bad” banking clients. Since most banks do a ChexSystems check on all new bank applicants, if your name is in the system, you won’t be able to qualify for a new account.

This is what prompts most people to get online and start looking for “banks without Chexsystems“. They look because it’s common knowledge that only about 80% of the banks out there do business with ChexSystems. That leaves a big 20% of banks out there that are open to the possibility of opening a checking account for you even if you have a negative record. Depending on the bank, those accounts are called “fresh start checking accounts” or “second chance checking accounts” but they basically offer the same thing: you get to open a bank account even if you’ve had financial problems, or you have bad credit, or something similar.

You’ll find that there are lots and lots of places that promise to get you a list of banks that don’t use ChexSystems. The problem is that a lot of them are really not about to give you the exact information that you’re really looking for. But at first, let’s give this a little more thought.

ChexSystems makes its money by charging financial institutions to use its service. That means that the more banks use them, the more money they’ll make. So they’re pretty aggressive in terms of marketing their service to banks that don’t currently use them to verify new checking accounts. Conversely, some banks have realized that they lose business by simply turning down everyone with a negative ChexSystems record, and they don’t necessarily want to keep doing that. What that boils down to is that there’s a constant movement of banks signing up for ChexSystems’ service and others that are leaving it.

When you think of the number of banks that there are in the United States (close to 8,500), getting a list of banks that don’t use Chexsystems would be a colossal amount of work in the first place. And that’s only the beginning, because such a list would have to be maintained continuously in order to be accurate. That would necessitate a sizable staff and that list would probably be just too expensive to be attractive to anyone looking for a non ChexSystems bank.

So what’s left for you to do? Well there are companies that are well known for offering “second chance checking” products and services. Three of them come to mind, but there are many more.

People’s Cash Solutions: “Second Chance Checking Accounts”

People’s Cash Solutions refers to their product as a “fresh start at banking”. Here’s what their website has to say:

Have you ever been denied a checking or savings account due to past problems with ChexSystems and TeleCheck? The Peoples Cash Solutions program is the answer for you! Peoples Cash Solutions and Peoples Bank will open a real FDIC-insured checking account for you even if you have been reported to ChexSystems or TeleCheck in the past (except where fraudulent activity has been reported). We want to give you a chance to establish a banking relationship as the first step toward improving your credit record and to allow you to begin building and accumulating assets. Our Second Chance Checking program erases the inconvenience of not having a checking account and/or being forced to use fee-intensive alternatives.

Money Now Usa: “100% Approval, No Credit Checks Prepaid Debit Cards”

Money Now Usa flaunts their wide selection of prepaid debit cards with 100% guaranteed approval. You get to choose from a list of well-known companies that offer their debit cards with no credit checks and no Chexsystems verifications. There’s a small list of features and benefits next to each offering to help you decide which is best for you.

Ready Debit: “100% Approval Guaranteed Reloadable Prepaid Debit Cards”

Once again, I’ll let the company’s website do the talking:

100% Approval Guaranteed — Even if you’ve been turned away or rejected by banks you can still get a READYdebit card. We have no credit or Chexsystems checks to worry about. Our only requirement is that we can validate the information you provide to us when you open your account. We do this instantly online while your application is being completed to make the sign-up process fast and easy!

“Can I Get A List Of Banks That Don’t Use ChexSystems?”