Q:

How do you open a bank account online without using ChexSystems?

A:

Quick Answer

Individuals who have a negative ChexSystems report can open bank accounts online through banks that accept online applications for new accounts but do not use ChexSystems, explains Rebuild Credit Scores. These banks may service only certain states or have other requirements. Second-chance checking is another option.

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Full Answer

Opening a new checking account while avoiding ChexSystems is possible, but banks that do not use ChexSystems may not offer the option of opening an account online. Instead, applicants can contact the bank to discuss eligibility requirements and complete a mailed account application, according to Rebuild Credit Scores. Some banks allow customers to open checking accounts online, and while they do not use CheckSystems, they do run a credit check, which can be a roadblock for people with bad credit. Incredible Bank, for example, requires customers to have a minimum credit score of 640, as of 2015.

One way to get around the ChexSystems and bad credit issue is to choose a brokerage firm that also offers checking accounts. TD Ameritrade and Scottrade Bank offer checking accounts to customers who open trading accounts online, notes Rebuild Credit Scores. Second-chance bank accounts allow individuals to re-establish good creditworthiness with banks and ChexSystems, and they are usually a basic checking account with fees and conditions, according to My Bank Tracker.

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