You walk into your local bank branch and sit down with your bank representative to talk about opening a checking account. Maybe you’ve been through some financial difficulties in the past, but you are ready to get back on track. But maybe not. You may think your financials are in good shape.
You wait with bated breath through the application process, only to let it out in a sigh of disappointment.
The banking representative turns to you and says, “I’m sorry, but we can’t open an account for you right now. You were rejected by ChexSystems.”
At that point, the banker probably explained ChexSystems to you in detail. If you haven't already, you can read our in-depth guide to ChexSystems and ChexSystems removal, and why it may be having a negative impact on your financial life.
Denials like these are surprisingly common. In fact, CNN has reported that approximately 15% of bank applicants are denied regular bank accounts.
Several members of our community have reported that CoVantage Credit Union DOES use ChexSystems but you can still qualify for an account if you don't owe any money to the bank. A second chance checking or savings account is another option to consider. Check out their financial products below and visit the official website to learn more.
|Method of Verification||Credit report|
|Official Response (Email or Phone)|
We use Trans Union Credit Reporting Agency. Yes, we do look at 650 or higher for a checking account. However, we do look at the type of collections that a person may have on their bureau and make our decision. Some accounts may be opened with less than a 650.
We do not use any of the other systems you listed.
Below you will find banks that don’t use ChexSystems as an alternative to CoVantage Credit Union in any step of the process. You can be sure that these banks won’t ever cross reference your records before deciding whether to let you open an account.
The list is suggested by our readers. Please consider the Unchex editor's curated list of banks that don't use ChexSystems for all the banking options available nationwide.
|Main Office||723 6th Ave Antigo, WI 54409|
|Number of Members||83,192|
|Institution Class||Federally Insured State-Chartered Credit Union|
|Institution Type||Credit Union|
|Credit Union Programs||Mortgage Processing, Brokered Deposits (all deposits acquired through a third party), Approved Mortgage Seller|
|Low Income Designation||No|
|Member of FHLB||Yes|
You are eligible for membership if you fit into one of the following groups:
Services & Products
|Electronic Services||New Share Account, New Loan, Remote Deposit Capture, Loan Payments, e-Statements, View Account History, Share Draft Orders, Download Account History, Bill Payment, Account Balance Inquiry, Share Account Transfers|
|Access to Electronic Services||Mobile Banking, Audio Response/Phone Based, Home Banking via Internet Website, Automatic Teller Machine (ATM), Kiosk|
|Services & Products: Credit||Participation Loans, Business Loans, Real Estate Loans, Overdraft Protection/ Courtesy Pay, Interest Only or Pymt Option, Indirect Consumer Loans, Micro Consumer Loans, Share Secured Credit Cards, Risk Based Loans, Pay Day Loans, Micro Business Loans, Overdraft Lines of Credit|
|Services & Products: Depository||Business Share Accounts, No Cost Share Drafts, Health Savings Accounts|
|Services & Products: Financial Education||In-School Branches, Financial Counseling, Financial Education, Financial Literacy Workshops, First Time Homebuyer Program|
|Services & Products: Other||Insurance/Investment Sales, No Cost Bill Payer|
|Services & Products: Transactional||Check Cashing, No surcharge ATMs, ATM/Debit Card Program, Money orders, Prepaid Debit Cards|