If think you can no longer do banking, then opening an online checking account no ChexSystems no opening deposit may put you back on the banking track.
Whether you were denied a checking account or your bank contacted you to inform you that they just closed your account, there is still another way out to continue banking.
All of these usually occur due to the ChexSystems that checked your credit history and then the bank decided you can't be a worth partner for them. ChexSystems are used by a vast number of banks and credit unions, and your name might appear on their blacklist if you have a rough banking history with other banks which may involve bounced checks, excessive returned check (NSF) costs, or too many transfers or withdrawals.
Sadly, being on that list for 5 years makes it difficult to get a simple checking account. You can't just open an account at the bank down the block because so many banks and credit unions use ChexSystems.
Fortunately, several banks do not make use ChexSystems. These "No ChexSystems Banks" provide you with a proper path back into banking by providing all of the services you require and deserve, as well as unexpectedly high acceptance rates.
That said, this article compiles a list of the best banks where you can open an online checking account no ChexSystems no opening deposit.
The best banks were chosen based on acceptance rates, checking account features, advantages, and the lowest-fee accounts. Best of all, you can get started with any of these banks right away!
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What is ChexSystems?
ChexSystems is a financial reporting organization that gathers all data about your previous problems with deposit accounts, such as checking and savings accounts.
Banks and credit unions can use this report to decide whether to approve your application for a new checking or savings account.
ChexSystems collect information from your previous banking history with other banks. Here are some of the information that may link to your name if it is found in ChexSystems database:
- Negative account closing.
- Involuntary account closure.
- Bounced checks and overdrafts
- Account, card, or ATM abuse
- Fraud or identity theft
- Number of accounts applied for recently
When you submit an application for a new account, most banks and credit unions use ChexSystems to review your banking history before deciding whether or not to open an account for you. Most banks will give you a second chance bank account if they discover you had problems with your prior bank, while others will refuse to grant you a bank account at all.
A second chance bank account allows you to fix your mistakes and become eligible for conventional bank accounts. Moreover, rather of going for a second chance account, there are banks where you can open a free checking account with no credit check or deposit.
List of 10 Best Banks and Credit Unions Offering Online Checking Account No ChexSystems No Opening Deposit
1. Chime Checking Account
Chime is our top pick for a second chance checking account no ChexSystems no opening deposit because it is a fast-growing online-only financial institution. Best of all, Chime approves nearly every customer that applies. Even if your credit is low or weak, or if ChexSystems or the credit bureaus have banned you.
The Chime Spending account is completely free, with no monthly fees, overdraft fees, or minimum balance requirements, and it ignores your ChexSystems information. Chime also has a high-interest savings account that pays 0.50 percent APY and can be set up to automatically save money every month.
Chime lets you easily manage your account with daily balance updates. An overdraft feature called SpotMe allows you to overdraft your account up to $200 without incurring fees. Fast transaction alerts, and automatic bill pay make account management simple.
Chime Checking Account Features
- There are no monthly or overdraft fees with this account.
- There are no requirements for a minimum balance.
- Balances are updated on a daily basis.
- Alerts for transactions are instant
- Direct deposit allows you to get paid up to two days ahead of schedule.
- 60,000+ fee-free ATMs are available.
- No credit check, no annual charge or interest on a Visa credit card that reports to the three main credit bureaus.
CHECK ALSO: 8 Best Guaranteed Approval Credit Cards with $1000 for Bad Credit
2. Nearside Checking Account
Nearside is a rapidly growing organization focused on providing business banking solutions to startups and small businesses. Nearside offers no minimum payment, does not verify your credit, and has no monthly maintenance fees, in addition to substantially speeding up the application process. Here are some of the features offered by Nearside:
Features of Nearside Checking Account
- FREE business Mastercard debit card
- FREE access to over 55,000 ATMs across the country, as well as a free online and mobile app
- CASH BACK AND REWARDS PROGRAM IS COMPLETELY FREE
- When you apply, there is no minimum deposit necessary, and there is no monthly charge.
- NSF fees are not charged.
- NO CHARGES FOR CARD REPLACEMENT
- There are no costs for ACH transfers.
CHECK ALSO: Best Banks Offering Second Chance Checking With No Opening Deposit
3. Douugh Checking Account
Douugh is another great bank that offers online checking and doesn't use ChexSystems for its customer approval. Additionally, you won't be required to perform an opening deposit.
Your credit score will not be affected if you apply for a Douugh Checking account. You just need to have a Social Security Number with you. You receive all of the features of a standard checking account, plus numerous automated budgeting options, with the Douugh account and app.
Features of Douugh Checking Account
- There's no minimum deposit required from you.
- Instant access to a virtual debit card. It will take 7 to 10 days for your Douugh Mastercard to arrive.
- Withdrawals are free at over 38,000 ATMs.
- Savings Jars system that automatically sets money aside for bills and savings.
- The monthly service price is $4.99.
- There are no overdraft costs.
- Funds of up to $250,000* are insured by the FDIC.
CHECK ALSO: 10 Free Online Checking Accounts No Opening Deposit No Credit Check
4. Current Bank Checking Account
Current is yet another online national bank with some pretty cool features and one of the fastest-growing checking accounts for people who want it all without the fees and hassles.
This online bank offers Current Premium Checking Account and don't use ChexSystems or a credit report. Current offers no-holds on debit card petrol payments, which is a unique feature. When you pay with a debit card, some petrol stations may impose a hold of up to $100.
These holds encumber the amount being held and prevent it from being spent. The hold will be instantly released by the Current debit card, ensuring that you do not have any available funds held up for days.
Features of Current Checking Account
- No minimum balance.
- No overdraft fees when you overdraw by up to $100 with Overdrive™.
- Get your paycheck up to 2 days early with direct deposit.
- Earn points for unlimited cashback at participating retailers.
- Gas station holds immediately credited to your account.
- Send money instantly for free.
- An elegant but simple smartphone app
- 24/7 member support.
CHECK ALSO: How to Open and Get a US Bank Account as a Non-Resident
5. SoFi Money — up to 15% Cash Back on Eligible Purchases
SoFi Securities LLC, a FINRA-registered broker-dealer, offers the SoFi Money Cash Management Account. It's like a checking account on steroids, which we adore. They also don't use ChexSystems for account approval. SoFi will automatically put an additional $25 into your account if you sign up and deposit at least $10 within 5 days.
You'll receive a debit MasterCard as well as a highly user-friendly smartphone app. You can deposit money, write checks, pay bills electronically, and transfer funds. There are no monthly or overdraft fees with this account. Plus, you get interest on the entire amount in your account! It is possible that the sign-up process will take less than 60 seconds.
SoFi doesn't require any minimum balance and its services are available across the 50 states of the U.S.
Features of SoFi Money
- No monthly maintenance fee.
- Minimum opening deposit of $10.
- Earn 0.25% APY on all your cash with SoFi Money once you set up qualifying direct deposits.
- 55,000+ fee-free ATMs.
- Get paid up to 2 days early with direct deposit.
- No-fee Overdraft Coverage up to $50 when you set up qualifying direct deposits.
- Deposit checks, get real-time alerts, freeze or unfreeze your card, change your pin, and more—all from your phone.
- FDIC-insured up to $1.5 million.
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6. Varo Checking Account
Varo Bank is another online bank that offers checking account without making use of ChexSystems for application approval, no opening deposit is required and its customers can manage their account through its Apple and Android mobile apps.
Varo doesn't charge fees at any of its 55,000+ Allpoint ATMs and provides powerful budgeting tools and automated savings programs. You can start an account with Varo without making any initial deposits. Monthly maintenance fees, foreign transaction fees, transfer fees, and debit card replacement fees are never charged.
Finally, Varo can deposit your money faster than many banks if it receives a paycheck notification before your payday.
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7. Wells Fargo Checking Account
The Opportunity Checking account was recently renamed Clear Access Banking by Wells Fargo. And one change in particular appeals to us. Overdraft and non-sufficient funds (NSF) fees have been eliminated at Wells Fargo.
Clear Access Banking is a debit card-only account (no paper checks), thus if you try to buy something without enough money, the transaction will be rejected. That's a lot better than getting the transaction accepted just to be charged a $35 overdraft fee later.
A $5 monthly fee is charged, although it is waived for account holders aged 24 and under. Residents of all 50 states can open a Wells Fargo Online Checking Account with no ChexSystem nor opening deposit.
Features of Wells Fargo Checking Account
- The largest number of branches in the U.S.
- Minimum deposit of $25 to open an account
- Online bill pay and smartphone app
- Mobile check deposit
- Includes a Visa debit card
- Send and receive money through Zelle
- Additional features include account alerts, 24/7 fraud monitoring, and zero liability protection for your debit card
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8. GO2bank Checking Account
GO2bank is a pre-paid card behemoth GoBank's offering, and we believe it is a step in the right path. GO2bank, like other of the younger "challenger banks," will deposit your direct deposit check up to two days early and offers cashback on a variety of purchases. This account also qualifies you for the GO2bank credit card, which has no annual charge and no credit check requirement.
Many online bank accounts have the disadvantage of not being able to accept cash deposits — GO2bank, on the other hand, accepts cash deposits at over 90,000 Green Dot areas across the country. However, you may be charged a fee by participating retailers.
Your $5.00 monthly maintenance cost is waived if you perform a direct deposit of more than $500. They also have a decent overdraft protection feature — however, there is a $15 gotcha fee if you don't replenish the cash within 24 hours.
Account users will love having access to a mobile app, budgeting tools, and a savings vault to help them budget their money. They actually pay 1% on all money in the savings vault up to $5,000.
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9. Navy Federal Credit Union
Navy Federal Credit Union offers conventional checking to all members in the United States, regardless of their banking history. NFCU is a great alternative for active duty or retired US military, family members, and government contractors because it does not need a review of your financial history. Active Duty Checking and Free eChecking are the two banking options available.
A free NFCU debit card is included with both account types. With direct deposit, there is no monthly service fee. With free savings transfers, a checking line of credit, or an extra overdraft protection program, your account is safeguarded from overdrafts.
Navy Federal Credit Union is one of the only credit unions in the United States to offer an online checking account without the use of ChexSystems and that won't require any opening deposit to be made.
Features of Navy Federal Credit Union
- Free mobile deposits
- Free bill pay
- Free traditional name-only checks
- Dividends credited monthly
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10. Mission Money Debit Card
The Mission Money Debit Card is a simple to use debit card that can be set up in minutes. To get started, simply sign up and fund your account.
Features of Mission Money Debit Card
- No account fees.
- No balance minimum.
- Access to 55,000 ATMs nationwide, fee-free.
- No transfer fees for moving money into and from your Mission Money account.
- No fees to access to support teams online or by phone.
- The coverage of VISA®, the security of FDIC.
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What are My Options if I'm Listed in ChexSystems
A checking account is required to keep track of your finances on a regular basis. According to studies, consumers who do not have a checking account squander over 5% of their net income on fees levied by payday lending companies, check cashing companies, and prepaid card companies. Over the course of your life, having a traditional checking account will save you hundreds of dollars!
However, if you've been banned by ChexSystems, it can be tough to re-enter the banking system. And it might be costly if you don't know where to look. Some people abandon banking entirely because they believe there are no viable alternatives. They rely on check cashing services or payday loans to get by.
Others use prepaid debit cards to complete electronic transactions. When you apply for a prepaid debit card, your credit isn't verified, and you can use the account to make purchases using your prepaid Visa or Mastercard using money you've already loaded onto the card.
The cost structure of a prepaid debit card is a disadvantage; fees can quickly build up. According to many studies, the cost of putting money onto a prepaid card, as well as the inconvenience, makes a debit card linked to a checking account far more appealing.
That's why opening a checking account may make your life so much easier financially. You may easily pay for goods and services using a variety of alternative financial technology solutions, including Apple Pay, Samsung Pay, Android Pay, Venmo, Google Pay, and PopMoney, to name a few.
The majority of consumers who are unaware of No ChexSystems Banks go for the more difficult and costly options of payday loans, check cashing fees, or prepaid cards. However, by reviewing our research and recommendations on this list, you can find an excellent checking account in your convenience.
To make things short, having a checking account saves you a lot of money and simplifies your life. Take into account the following about checking accounts:
You have the ability to safeguard your funds. Paying for products with a checking account is safe and secure.
- It's a lot easier to pay bills and expenses, and it's free.
- You can keep track of your expenditure and make adjustments as needed.
- Direct deposit allows you to collect your money quickly.
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Why a No ChexSystems Bank is the Best Choice to Go in For
Banks and Credit Unions that don't use ChexSystems are the best choices you can go in for if you get rejected for a standard bank account or if your name appears in the ChexSystems database. These account let you get back on the banking track and will not require any minimum or opening deposit to be made. With time, when you have reconstructed your credit score, you can apply for a standard checking account.
Here are some of the features you will benefit from a No ChexSytems bank account:
- No minimum balance required
- Low or no monthly fee
- Ability to write checks
- Online and mobile banking
- Debit card access
- FDIC insured accounts up to $250,000
- Access to a large (and most times free) ATM network
- Purchases with your bank card carry a zero liability for fraudulent transactions
Don't accept a bank account that doesn't use ChexSystems and has strong limitations and regulations, as well as hefty fees. Too many folks fall into this trap because they are unaware of no ChexSystems bank accounts or have been directed to payday lending or check cashing businesses.
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What’s The Difference Between A No ChexSystems Bank Account And A Second Chance Bank Account?
A bank that does not employ ChexSystems is not the same as a second chance checking account. Here's why it's crucial:
If you are on ChexSystems and are unable or unwilling to challenge the negative information, you should seek out a bank that does not employ ChexSystems in its checking account screening process. Be warned that the bank may run a fast credit check and use EWS to ensure you haven't been involved in any fraudulent activity. These banks and credit unions are extremely rare and difficult to come by. Chime is our top option for this category of banks.
ChexSystems will nearly always be checked by banks that offer Second Chance Checking. They can also make use of EWS and Telecheck. However, they are usually willing to open an account if you do not owe their institution any money.
Both of these types of accounts have high approval rates, and you'll have access to most of the banking features you'd find in a 'regular' checking or savings account.
It's difficult to find no ChexSystems bank accounts as well as second chance banks and credit unions. However, we have compiled the most complete and accurate list of second chance banks available.
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Can I live anywhere in the United States to apply for a no ChexSystems bank account?
Yes. All residents of the United States in the 50 States can apply for a No ChexSystems bank account.
Do these banks require an initial deposit to set up the account?
While the rest of the banks require an initial deposit, Chime and Nearside (business banking) do not. For each bank, we've supplied information on the needed minimum deposit.
CHECK ALSO: 5 Best Virtual Credit/Debit Card Providers in the UK
Will My No ChexSystems Bank Account be FDIC Secured?
FDIC-insured checking accounts are available at all of the banks on our list. This implies the federal government will insure your money up to $250,000.
5 Credit Unions That Don’t Use ChexSystems
- Navy Federal Credit Union
- America First Credit Union
- Southwest Financial Federal Credit Union
- Aspire Federal Credit Union
- State Department Federal Credit Union
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Final Thoughts on Online Checking Account No ChexSystems No Opening Deposit
No ChexSystems checking accounts are the best alternatives if you were denied a regular bank account due to your rocky credit history. Alongside no ChexSystems used, banks such as Chime and Nearside do not require an opening deposit to open an account for you.
All of these banks application approval rate are very fast and they are the best you can find out there. Do not go in for prepaid cards as an alternative because many studies have shown that the fees charged for prepaid card loading are way to high and can be saved with a second chance no ChexSystems bank account.
When you must have reconstructed a good credit score, you can now apply for a regular bank account and take advantage of normal banking advantages.
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