Does Bank Of America Use Chexsystems?

If you have had problems in the past with a bank, and have had your account closed as a result, your information has probably been reported to ChexSystems. What that means is that out of all the banks operating in the United States, an estimated 80 to 90 percent of them will refuse to do business with you. In case you didn’t know, ChexSystems is a database that banks report to and share information with, so that they can verify prospective customers’ information before making a decision on whether or not to open new bank accounts for them.

When it comes to the major banks, they all take a look at ChexSystems’ database before opening new checking or savings accounts. It is a well known fact that smaller banks are more likely to take a risk than big, impersonal banks. So even if you can’t open a bank account at Bank of America, you will almost certainly find a regional bank or credit union that will open you an account. If even that is not an option, you can always look into prepaid debit cards, which will offer you many of the same features a “regular” bank account would.

Related: Banks that don’t check your credit to open new accounts

Does Bank Of America Use Chexsystems?