15 Banks That Don’t Use ChexSystems (Second Chance Banking)
ChexSystems is a reporting agency that collects all the information from banks and credit unions on consumers’ checking and savings-related accounting activities. The agency uses this information to create consumer reports that financial institutions can use to screen potential customers for their creditworthiness. It works on the federal Fair Credit Reporting Act (FCRA).
However, some banks choose to ignore a bad credit report given by agencies and give customers a second chance to maintain a checking account. They are also known as banks that do not use ChexSystems.
Following is a handpicked list of Top Banks that don’t use ChexSystems with their popular features and website links.
Second Chance Bank Accounts with No Opening Deposit: Banks without ChexSystems
Name | Foundation Year | BBB rating | Monthly fee | Minimum deposit | Minimum balance | Link |
---|---|---|---|---|---|---|
👍 Chime | 2013 | A+ | None | None | None | Learn More |
Current | 2015 | B | None | None | None | Learn More |
Extra | 2018 | F | $149 per Year (Credit Building) | None | None | Learn More |
B9 | 2020 | NR (Not Rated) | $9.99 for the monthly membership fee | None | None | Learn More |
Wise Business | 2011 | B | $10 | None | None | Learn More |
1) Chime
Chime offers a mobile bank account and debit card without any credit check. There are no hidden bank fees. You can also get your paycheck up to 2 days earlier with direct deposit.
Features:
- It helps you to transfer money, send and deposit checks and pay bills.
- Chime gives you access to cash across 38,000+ fee-free ATMs.
- It provides an optional automatic savings account that helps you earn 0.50% (APY) on your savings.
- This website offers a free debit card.
- No monthly service charge or overdraft fees.
- Daily balance updates in mobile app and its website.
Key Specs:
- Monthly fee: None
- Locations: Online
- BBB Rating: A+
- Foundation Year: 2013
- Minimum deposit: None
- Minimum balance: None
2) Current
Current is a mobile banking app founded in 2015 by Stuart Sopp. Its financial technology company helps people save their money in much a clever way. The banking services Current offers are provided by Choice Financial Group and Metropolitan Commercial Bank, Members FDIC. The Current Visa Debit Card is also issued by them only.
Pros:
- Current offers up to two days faster availability of your paycheck than the average direct deposit.
- It is a specially designed app for parental supervision and money management.
- It gives great cashback rewards
- It gives certain parental features like instant transfer to your teen’s card, Notifications for all purchases, the Ability to block specific merchants, etc.
- Supported platforms: Android and iOS.
Cons:
- It does not have any physical branches, only a mobile app.
- Premium and Teen Banking both charge service fees
- If you deposit cash, there is a $3.50 fee per transaction.
Key Specs:
- Minimum opening Deposit: $0
- Pricing: 1) Basic: $0/month, 2) Premium: $4.99/month, 3) Teen 4) Banking: $36/year per teen.
- Minimum balance: $0
3) Extra
Extra helps build your credit and enables you to earn reward points. It reports your transactions on the debit card at the end of the month as creditworthy payments to Equifax and Experian credit bureaus. It helps you to build your credit so take out lower-cost loans and qualify for the best rewards credit cards. It is compatible with most banks across the United States.
Foundation Year: 2018
Monthly Fee: $149 per Year (Credit Building)
Minimum Deposit: None
Minimum Balance: None
Features:
- Easily build your credit.
- You can keep your existing bank account
- Instantly earn points for every purchase made. Get points for rideshare, coffee, or just paying your phone bill.
- You will get 5x rewards points for every $1 spent
- Provides an option for daily payments
- Does not charge any predatory interest rates
Key Specs:
- Yearly/Monthly fee: $149 per Year (Credit Building) and $199 per year (Credit Building + Rewards).
- Locations: USA
- BBB Rating: F
- Minimum deposit: None
- Minimum Balance: None
4) B9
B9 is a bank account with no credit checks that advances upto 100% of your Paycheck. It allows unlimited money transfers between B9 members without any fee. It lets you connect to any payroll platform to set up your direct deposit with B9.
Features:
- Offers FDIC-insured checking account
- No-Fee ACH Transfers
- Does not changes overdraft fees on checking account
- Offers zero fee advances (upto 100% of your paycheck) of up to 15 days based on approval
- No-Fee Instant B9 Advances (up to $300)
- Does not require credit checks
- B9 Visa® Debit Card offers upto 5% cashback
- Customer service available in English and Spanish languages
- Simple onboarding process
- Supported platform: iOS and Android
Key Specs:
- BBB Rating: NR (Not Rated)
- Monthly Fee: Plan starts at $9.99 for the monthly membership fee
- Minimum deposit: None
- Minimum balance: None
5) Wise Business
Wise Business is an easy-to-use app that helps you pay down your credit card debt. It automates the system to analyze your spending habits to allocate unused funds and ensure your bills are paid on time. It offers bank-level security with 256-bit encryption and allows two-factor authentication for added security.
Features:
- It offers low APRs
- It provides instant approval with no credit check.
- You will get Instant approvals
- It offers more credit as you grow
- Build more savings faster
- Adapts automatically as you go
- You need to pay a monthly fee
- Only helps with credit card debt
Key Specs:
- Minimum opening deposit: $0
- Monthly fees: $10
- Minimum deposit: None
- Minimum balance: None
6) SoFi
SoFi is a cash management account online, which is a good way to stay off the ChexSystems radar. It allows users to earn 0.25% APY on balances over $500. You will also get SoFi member benefits like career coaching and financial advising.
Features:
- Unlimited reimbursed ATM fees.
- No hidden bank charges.
- It offers cash bonuses.
- It provides high-yield interest rates without a credit check.
- Easy P2P payments at no extra cost.
- You can freeze your debit card on the go.
- FDIC-insured deposits up to $1.5Mn through the SoFi Money sweep program with partner banks.
Key Specs:
- BBB Rating: A
- Foundation Year: 2011
- Locations: Online
- Monthly fee: None
- Minimum deposit: None
- Minimum balance: None
Link: https://www.sofi.com/
7) TD
TD Bank is one of the top North American banks that offers banking services for individuals, small businesses, and commercial firms. It offers a debit card free of charge for individuals as well as businesses. It also provides customer support service available throughout each day of the week.
Features:
- Affordable checking account.
- Possible to waive off maintenance fee.
- It comes with a free visa debit card for your business.
- Impeccable customer support service.
Key Specs:
- Monthly fee: $5.99 monthly fee
- BBB Rating: N/A
- Locations: Online
- Foundation Year: 1855
- Minimum deposit: No
- Minimum balance: No
Link: https://www.td.com/
8) PNC
PNC acquires BBVA USA, The BBVA offer Online Checking Account is a known bank that does not use ChexSystems. In this Bank with no ChexSystems, you can easily set up your checking account. This bank also offers an active bank account online for people with bad credit.
Features:
- It provides a facility for online banking, bill pay, and mobile deposits.
- It offers cashback rewards for everyday debit card purchases and shopping.
- No minimum deposit if you open an account in person at a branch location.
- No monthly service charge.
- This bank offers an automatic rebate of ATM fees charged by other banks.
- It helps you to keep complete track of your purchases and get instant transaction alerts.
- Robust mobile banking options and online second chance banking services.
- Low-interest rates.
- It also offers good service options for users with bad credit.
- Not have any monthly service fees.
- You don’t require keeping a minimum balance.
- It helps you to earn cashback rewards for daily debit card purchases.
Key Specs:
- Monthly fee: No monthly fees.
- Locations: Available in all states except Alaska and Hawaii.
- Foundation Year: 1964
- BBB Rating: A-
- Minimum deposit: $25 minimum opening deposit
- Minimum balance: None
Link: https://www.pnc.com/
9) Navy Federal
Navy Federal is one of the credit unions that don’t use ChexSystems to open a new checking account. This Bank offers special memberships for Armed Forces, Coast Guards, or National Guards. This Bank also offers flagship checking.
Features:
- Free active duty checking with no credit check.
- Free everyday checking.
- Free mobile deposits.
- Dividends are credited monthly, which you can check on the website.
Key Specs:
- Monthly fee: None except for a $10 fee for Flagship Checking
- BBB Rating: A+
- Locations: Online
- Foundation Year: 1933
- Minimum deposit: None
- Minimum balance: None
Link: https://www.navyfederal.org/
10) US Bank
US Bank is a trustworthy banking service in the United States. This bank allows you to open an online checking account with no ChexSystems and no minimum deposit. US Bank also waives monthly fees for account holders aged 65 and older.
Features:
- Offers savings account online with highly trustworthy and fraud-free service.
- Easy to get approved loan with no credit check.
- It allows you to send, receive and request money via mobile application.
- Easy standard checking account.
- It helps to rebuild credit scores.
Key Specs:
- Locations: Online
- Monthly fee: $8.95 monthly fee
- BBB Rating: A+
- Foundation Year: 1968
- Minimum deposit: No monthly fees for deposit.
- Minimum balance: No minimum balance required.
Link: https://www.usbank.com/
11) Suntrust
Suntrust Bank offers several checking accounts online that include online banking, mobile banking, direct deposit, overdraft, bill pay, etc.
Features:
- Advantage checking account with interest on your savings.
- Essential checking account with no-fee access to over 2000 ATMs and 1200 branches.
- It offers free identity protection and credit monitoring through IDnotify.
- Checking account services with cashback on selected card purchases.
- You can easily check the live balance on the website.
Key Specs:
- Locations: Online
- Monthly fee: $7 maintenance service charge
- BBB Rating: A+
- Foundation Year: 1891
- Minimum deposit: $100
- Minimum balance: None
Link: https://www.suntrust.com/
12) Renasant
Renasant Bank is a banking service located in Mississippi, Alabama, Tennessee, and Georgia. It offers various banking services like savings, loans, digital banking, mortgage, wealth management, etc. It also provides three checking account options and one student checking account to choose from.
Features:
- It offers Rewards savings accounts for customers who want to grow their funds.
- It provides Rewards Checking accounts with higher interest rates.
- You will get regular updates for your account on their website.
- Student Checking account offers online banking, mobile deposits, bill payments, etc., features.
Key Specs:
- Locations: Alabama, Georgia, Mississippi, and Tennessee
- Monthly fee: $6 to $10
- Minimum deposit: $50
- BBB Rating: A-
- Foundation Year: 1904
- Minimum balance: None
Link: https://www.renasantbank.com/
13) Varo
Varo is one of the best credit unions that don’t use ChexSystems. They offer little to no service fees and convenient transactions. The Bank does not look at negative ChexSystems reports or on your credit report to determine whether you have bad credit or not.
Features:
- It helps you to enhance your business savings.
- No credit check.
- No minimum balance.
- No monthly fees.
- No overdraft fees.
- 55,000+ fee-free ATMs.
Key Specs:
- Locations: Online
- Monthly fee: None
- Minimum deposit: None
- Minimum balance: None
Link: https://www.varomoney.com/
14) Gobank
GoBank is an online-only bank that helps you to open a checking account online. This financial federal credit union bank is surely a good choice if you have bad credit because it does not check the ChexSystems.
Features:
- Checking accounts come with a free debit card.
- It offers Mobile banking.
- It has a massive free ATM network.
- It allows you to deposit cash to your card with ease.
- It enables you to pay your bills online.
Key Specs:
- Locations: Online
- Monthly fee: $8.95
- Foundation Year: 2003
Link: https://www.gobank.com/
15) United Bank
United Bank offers various products for customers with no or low credit. It includes personal loans, a secure Visa credit card, and the Gateway Checking account. It also provides multiple account options for users with many features and benefits supported by outstanding customer support.
Key Features:
- It provides a free debit card for purchases.
- It offers free ATM withdrawals.
- United bank has 42,000 ATM locations.
- It offers Mobile check deposits.
- Many discounts offers available from multiple retailers using United bank cads.
Key Specs:
- Locations: Alabama and Florida.
- Monthly fees: $10
- BBB Rating: A-
- Foundation Year: 1839
- Minimum deposit: None
- Minimum balance: None
Link: https://www.bankwithunited.com/
16) First American Bank
First American Bank is a banking service open to residents in Illinois, Florida, and Wisconsin. It is a non-ChexSystems bank that does not require any minimum balance and provides free digital statements.
Features:
- It offers free mobile and online banking.
- Swift online banking system.
- Offers waivers for monthly charges.
- No minimum balance is required.
- It provides eStatements for your account.
- Allows you to access 55000+ surcharge-free ATMs.
Key Specs:
- Locations: Illinois, Florida, and Wisconsin, and others.
- Monthly fee: $9.95 monthly fee
- BBB Rating: A+
- Foundation Year: 1974
- Minimum deposit: $50 deposit
- Minimum balance: $0 for several accounts
Link: https://www.firstambank.com/
17) First Convenience Bank
First Convenience Bank is available in Texas, New Mexico, and Arizona. This second chance bank allows you to open an account with a minimum $20 deposit. This helps you to save costs in your business.
Features:
- It allows you to open various accounts like savings, money market, kids, etc.
- Money market account provides benefits of both savings and checking account.
- It offers higher interest rates for higher deposits.
- It also provides unlimited withdrawals and transfers for savings accounts under several conditions.
- Possible to wave off monthly charges.
Key Specs:
- Location: Online
- Monthly fee: $12 regular monthly maintenance fee
- BBB Rating: A+
- Foundation Year: 1901
- Minimum deposit: $20
- Minimum balance: $100
Link: https://www.1stnb.com/
18) FNSB
Fort Sill National Bank is a bank that does not use ChexSystems. It provides account-holders a Visa CheckCard and free online second chance banking services.
Key Features:
- It offers the best services for civilian and military communities.
- Minimum $5 deposit required.
- No-cost electronic statements.
Key Specs:
- Location: Online
- Founded: 1946
- Minimum deposit: $5
- Minimum balance: No
Link: https://www.fsnb.com/
19) Southwest Financial Bank
Southwest Financial Federal Credit Union is a non-ChexSystems bank that allows you to open new checking accounts. They offer a “Checkless Checking” account for people/businesses with previous trouble qualifying for a second chance checking account. This non-ChexSystems account online operates completely without any paper checks and has no monthly service charge.
Features:
- It offers a Mobile app and online banking features.
- Deposit checks using your smartphone.
- No monthly service fees.
- Overdraft protection.
Key Specs:
- Location: Online
- Monthly fee: None
- BBB Rating: C
- Foundation Year: 1962
- Minimum deposit: None
- Minimum balance: None
Link: https://www.swfinancial.org/checking
20) Sable
Sable does not charge any hidden fees, and you will get a secured credit card bank account in just a few minutes. It also offers unlimited cashback and premium perks. You can get a bank account with your passport. No SSN is required.
Features:
- You will get a dollar-for-dollar match on cashback earned in year one
- You can earn 1% cashback on everyday purchases at Amazon, Uber, Whole Foods, Netflix, Spotify, and more!
- It has a 98% approval rate with no credit check
- It offers the quickest way to build U.S. credit score
- Cheap international transfer rates to 55 countries.
- They also offer a Credit Card that reports more datapoints to credit bureaus compared to other cards in the market. It helps you build your credit score quickly.
- You can progress from secured to unsecured credit in lesser than 4 months.
- A low credit line stops cardholders from charging high-cost items or many expenses
Key Specs:
- Minimum opening deposit: $0.
- Monthly fees: $0.
- Minimum deposit: None.
- Minimum balance: None.
Link: https://sablecard.com/credit
How to Get Approved for Banks that Don’t Use ChexSystems
Registration for Banks that don’t use ChexSystem is straightforward and follows requirements similar to traditional banks.
Following are the steps to get approved for banks that don’t use ChexSystems:
Step 1) Check the Non-ChexSystems bank’s requirements.
While some banks might not perform a credit check on applicants, they may require government-issued IDs, social security numbers, and other personal or business information. You need to check what the Bank needs from you before signing up to get approved.
Step 2) See your Credit check report information and dispute any errors
Most account denials occur because of poor credit ratings, which stem from less-than-perfect credit check reports by the three main credit bureaus. However, before signing up with a non-ChexSystems bank, you need to go through your credit report. However, if you find any errors, dispute them. If you’re successful in this, you may end up being eligible for an account in bigger and more traditional banks.
Step 3) Choose a Second Chance Bank Account
A second chance account is an alternative where banks with no ChexSystems or credit unions do not look past your poor credit.
Step 4) Use a Prepaid Debit Card
You can also consider using prepaid cards, which aren’t linked to an online checking account, non- ChexSystems, or a credit union account. Using the prepaid card, you deposit money in advance.
Step 5) Know which features you want
While some features may differ from one account to another, ChexSystems-free banks are similar to traditional banks. They offer features that include online banking information, mobile deposits, and free in-network ATM usage.
Step 6) Use the account wisely
You need to make sure you use your account wisely. Avoid unpaid fees, overdrafts, and other things which may affect your credit report negatively.
FAQ
Second Chance Bank Accounts with No Opening Deposit: Banks without ChexSystems
Name | Foundation Year | BBB rating | Monthly fee | Minimum deposit | Minimum balance | Link |
---|---|---|---|---|---|---|
👍 Chime | 2013 | A+ | None | None | None | Learn More |
Current | 2015 | B | None | None | None | Learn More |
Extra | 2018 | F | $149 per Year (Credit Building) | None | None | Learn More |
B9 | 2020 | NR (Not Rated) | $9.99 for the monthly membership fee | None | None | Learn More |
Wise Business | 2011 | B | $10 | None | None | Learn More |