There are banks who do not allow customers that have been banned from other financial institutions to deposit or make savings with them. You may wonder how they get to detect such people. Banks make use of chexsystem to track the checking history of account applicants. Most records stay very long on the ChexSystem and it is quite impossible to go without a savings or a checking account for a very long period of time.
But there are still reputable banks that do not use ChexSystems to qualify their customers. There are some that will still run the records but offer you second chance banking.
There are several options available for you to choose from and they all have their different perks. The following are some of the best kind of accounts operated by these banks.
With BBVA, you can open an online checking account without ChexSystems review and it can be gotten in all states except Alaska and Hawaii. This account is fee-free and you get to manage your money from anywhere. With just a computer or a smartphone, you can access your account for free but paper statements are available for just $3 per month.
The account automatically enrols you in paper billing and you can deactivate the feature if you wish to avoid the charges and extra clutter.
This account also gives you access to their ATMs for free. You also get free access to the AllPoint ATM network which comprises of over 55,000 ATMs throughout the country. They also offer unlimited check writing, 24/7 customer support and access to the Wallet app with your smartphone.
Suntrust Bank
Suntrust has had different reviews from different users concerning their use of ChexSystems. The bank has stated that it does not use it to screen applicants but some customers think they do.
However, the answer may lie on how bad your history is. Suntrust has a wide range of checking options available but you will be better off starting with their Essential Checking.
You have to pay a $7 monthly service fee or meet one of several conditions to get a fee waiver. The conditions include having at least 10 bank transactions each month, making at least $500 in monthly direct deposits, or maintain a $500 balance.
Fort Sill National Bank
This bank does not screen their prospective customers using ChexSystems and doesn't require you to be in the military before applying. If you need the Basic Checking, then you'll make a $5 deposit and a daily minimum of $75 otherwise, you'll pay a service fee of $5.50. However, you're entitled to a Visa CheckCard and basic online banking services.
Navy Federal Credit Union
NFCU requires you to be an active duty or a retired member of the military. It covers the Armed Forces, Coast Guard, National Guard, and the Department of Defense.
If you fall in any of these categories, the NFCU will welcome you with open arms. It doesn't use ChexSystems or Early Warning Services (EWS). They also have a free account option that doesn't require a minimum balance.
Renasant Bank
This bank does not use ChexSystems, Telecheck or EWS for residents of Florida, Georgia, Alabama, Tennessee and Mississippi.
But your eligibility is canceled once you owe any money to the bank. They require a $50 minimum deposit and a monthly balance of $500 otherwise you'll be charged $7.50 per month.
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