How to Open a Checking Account Without Chex Systems
Checking accounts are convenient for paying your mortgage, car loan and other bills. You can also have your paycheck directly deposited into your account so you don't have to go to a bank or check cashing center. If you have been reported to Chex Systems, your options for being approved for a checking account might be limited. However, there are checking accounts that either bypass or do not check Chex Systems to open your account.
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Instructions
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Obtain a copy of your credit report. Depending on your location, some banks check your credit only and not Chex systems. For example, Bank of America might sometimes check just your credit to determine approval. Having a higher credit score improves your chances of approval. A score of 620 or above is considered good credit, according to the three credit bureaus. You can obtain your credit score and report by going to Equifax.com, Experian.com, Transunion.com, or AnnualCreditReport.com.
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Contact a local, smaller bank. Small branches tend to have a branch manager who is accessible. Go to the bank and attempt to open your account. If the bank runs Chex systems, ask to speak with a branch manager, and tell the manager about your situation. If you are sincere and honest, he can override the system and open your account. (See Resources section.)
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Save a larger than usual amount to deposit into your checking account. Many banks let people open an account with $100 or less. But depositing more than $1,000 might make a bank more likely to approve you. For example, Ever Bank will allow you to open a checking account with $1,500. Ever Bank does not use Chex Systems, and you do not have to maintain a $1,500 balance after you make your initial deposit.
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Contact a credit union. Credit unions might be more likely to open your account without checking Chex Systems if you follow the criteria for joining. Ask your employer whether it is affiliated with any credit unions. Also, schools you graduated from and clubs can be affiliated with certain credit unions.
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Obtain a prepaid debit card. There are many prepaid cards that will allow free direct deposit to your account, and you will receive a check card for making purchases. In some cases their bank will have a routing number and checking account number so you can have checks issued. The Vision prepaid Visa and Rush Card are examples of prepaid debit card checking accounts.
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References
Resources
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