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Banks That Don't Use ChexSystems: A Guide to Starting Fresh

Review Updated
James McClenathen
Author: James McClenathen
James McClenathen
James McClenathen

James is the Managing Editor for Motley Fool Money, overseeing the production and quality of our editorial content. James has worked full-time for The Motley Fool since 2012. He's a personal finance wonk, longtime editor, former reporter, and University of Michigan alum.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

Think of ChexSystems as the banking world's version of a credit report. It's a record banks check before giving you the green light to open an account. They're looking for things like unpaid balances, bounced checks, or a history of overdrafts -- basically, clues about how risky it might be to have you as a customer.

Got some marks on your ChexSystems report? You're not alone, and there's no need to panic. Life happens, and plenty of people have had to navigate similar challenges. The good news? There are banks out there that don't rely on ChexSystems, so you can still open an account and start fresh. It's all about moving forward, one step at a time.

Understanding non-ChexSystems banks

Not every bank checks your ChexSystems report before deciding if you can open an account, and that's a game-changer for many people. For you, it means a smoother approval process and quicker access to the banking services you need to manage your money and rebuild trust.

For these banks, it's about more than just accounts -- it's about giving a fair shot to people who've been sidelined by the traditional banking system and helping underserved communities take a step toward financial stability.

Top banks that don't use Chexsystems

Here are six banks that will give you a second chance:

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Ratings Methodology
Rates as of Apr 05, 2025

SoFi Checking and Savings

Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Offer Alert
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
APY
up to 3.80%² Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. To Earn APY
$0
  • Competitive APY on both Savings and Checking
  • No account fees³
  • Welcome bonus up to $300 (direct deposit required)¹
  • Early access to direct deposits⁶
  • Tools to help you track savings goals
  • Unlimited number of external transfers (up to daily transaction limits)
  • ATM access⁵
  • FDIC insured (up to $3M with opt-in to SoFi Insured Deposit Program)⁴
  • Combo account only; no stand-alone savings or checking
  • Maximum Savings APY requires direct deposit
  • Overdraft protection⁷ requires monthly direct deposit minimum
  • No branch access; online only

For those who plan to set up direct deposit with their new account, we think SoFi Checking and Savings (Member FDIC) is hard to beat. Not only does this savings account offer a strong APY, but the linked checking account earns an above-average rate, too -- which is a rare perk. Plus, there's the opportunity for a bonus of up to $300¹ and a long list of extra account features. Frankly, it's the kind of combo that could make it worthwhile to switch banking relationships.

You can earn the maximum APY either by making direct deposits into checking or savings, or by depositing $5,000 or more every 30 days. Learn more.



SoFi disclosure:

¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.

² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.

Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

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Chime® Checking Account

Read Review
Member FDIC.
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0%
Min. To Earn APY
$0
  • Get direct-deposited funds up to two days early*
  • Get instant paychecks with MyPay ¹
  • No monthly maintenance or overdraft fees
  • No minimum balance requirement
  • No foreign transaction fees
  • No ChexSystems check to open an account
  • Free peer-to-peer (P2P) payments
  • Overdraft up to $200 without fees with SpotMe® ²
  • No physical branch locations
  • Mediocre customer service

Chime Checking makes it easy to get paid early. It's a great option for folks worried about getting hit with surprise fees -- Chime has none of those. It's a great checking account for beginners wanting simplicity.

Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

*Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

¹ Eligibility requirements apply. Not all users will qualify. MyPay credit limits range from $20-$500. $2 fee applies to get funds instantly. MyPay™ line of credit provided by The Bancorp Bank, N.A. or Stride Bank, N.A. MyPay services provided by Chime Capital, LLC (NMLS ID 2316451).

² SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.

Capital One 360 Checking

Read Review
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0.10%
Min. To Earn APY
$0
  • Branches and Capital One Cafes in some states
  • Variety of accounts
  • Robust digital platform and app
  • Great customer service
  • Higher APY available at other financial institutions

Capital One boasts a top-rated mobile app and has over 70,000 fee-free Capital One, MoneyPass, and Allpoint ATM locations. For those looking for face-to-face interaction, Capital One has over 450 locations and 50 Capital One Cafes, where customers can bank, get a cup of coffee, and ask for advice from a certified money coach. However the APY is lower than other online banks.

Varo Savings

Read Review
Member FDIC.
Rating image, 3.00 out of 5 stars.
3.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 3.00 out of 5 stars.
3.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
up to 5.00% Rate info Circle with letter I in it. Annual Percentage Yield (APY) is accurate as of Dec. 11, 2024. Start earning 2.50% APY, then qualify to earn 5.00% APY on your balance up to $5,000.00 the following month by receiving direct deposit(s) totaling $1,000 or more; and ending the month with a positive balance in all your Varo Accounts.
Min. To Earn APY
N/A
  • High savings account APY 
  • No monthly fees
  • Multiple deposit options
  • Automatic savings tools
  • FDIC insurance 
  • No single account option
  • Only first $5K eligible for top APY

Varo Savings gives you the opportunity to earn a very competitive APY on your savings, with a few strings attached. Only funds up to $5,000 are eligible to earn the top APY, you must receive monthly qualifying direct deposits to your account, and you must end the month with a positive balance in your accounts. Luckily, the standard APY on this account isn't too shabby, either.

Wells Fargo Clear Access Banking

Read Review
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Read Review
APY
0%
Min. To Earn APY
N/A
  • Large network of physical branches and ATMs
  • Highly-rated mobile app
  • Wells Fargo Campus Card for participating colleges
  • Low APY
  • High overdraft and international payments fees
  • High requirements to qualify for waived fees

Wells Fargo has about 5,200 branches worldwide, with over 13,000 fee-free ATM locations, and The Wells Fargo Campus Card Program offers banking services at 27 schools in 13 states. Wells Fargo also has a program where students can take advantage of CollegeSTEPS® planning resources, which includes exclusive access to over 7 million scholarships.

PNC Foundation Checking

Read Review
Member FDIC.
Read Review
APY
0%
Min. To Earn APY
N/A
  • Does not use ChexSystems report to decide eligibility
  • Array of digital banking tools
  • No minimum deposit
  • Free cashier's checks
  • No overdraft or returned item fees
  • $5 monthly service charge (if not eligible for waiver)
  • Does not earn interest
  • Account may not be available in all states

Designed for those who may not qualify for a traditional checking account, PNC Foundation Checking is a second-chance bank account with many helpful digital features, including digital payments, online banking, and mobile banking. This account does not have a minimum to open, but it does have a $5 monthly service charge for anyone that is not a PNC Bank employee or age 62 or over.

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

Features to look for in banks without ChexSystems

Even though the pool of banks that skip ChexSystems is smaller, picking the right one is still a big deal. This is your chance to rebuild, grow, and set yourself up for financial success, so let's make it count. Here's what to keep in mind.

1. Key offerings

Think of this bank as your partner in financial recovery -- and hopefully, your long-term ally. Look beyond the basics of the account you're opening. Does the bank offer solid savings and checking options? Are online and mobile banking easy to use?

If face-to-face service matters to you, check for branch locations, ATMs, and access to a debit card. The right features will make managing your money feel effortless.

2. Fees

Nobody likes paying extra, especially when every dollar counts. Look for banks that keep fees low -- or better yet, skip them altogether. Aim for accounts with no monthly maintenance fees, free ATM withdrawals, and overdraft protection that won't break the bank.

3. Account requirements

Pay attention to what's needed to get started. Some accounts -- especially high-yield savings -- might require steep minimum deposits or balances to unlock their best perks. If that's not where you're at right now, focus on options that work with your budget and help you build toward those higher-yield opportunities down the road.

Remember, this isn't just about getting an account -- it's about finding one that supports where you are today and where you want to go tomorrow.

Rebuilding your banking history

Here's the part that takes work -- but also pays off big time. Rebuilding your banking history is your chance to start fresh, so you can stop stressing about your ChexSystems report in the future. It won't happen overnight, but with determination, focus, and a little patience, it's totally doable.

Follow these tips to get back on track.

Pay off old debts and monitor your ChexSystems report

The first step to rebuilding is addressing any old debts that might still be holding you back. Clearing unpaid overdrafts or negative balances tied to past accounts shows banks you're serious about turning things around.

At the same time, request a free copy of your ChexSystems report (you're entitled to one every 12 months). Review it carefully for mistakes, and if you find any, dispute them to improve your record. Even small corrections can make a big difference.

Stick to a budget and build an emergency fund

Creating a realistic budget is one of the most powerful ways to prevent future financial missteps. Track your income and expenses, and make sure every dollar has a purpose. Avoiding overspending and overdrafts is much easier when you know exactly where your money is going.

Alongside your budget, start building an emergency fund. It doesn't have to be huge -- just $500 can help you cover unexpected expenses and keep you from falling back into old habits.

Pay your bills on time

Consistently paying your bills on time is an easy way to rebuild credibility and avoid penalties. Set up reminders on your phone or enroll in auto-pay to ensure you never miss a payment. Timely payments show you're dependable and can be trusted to manage financial responsibilities, which goes a long way in improving your financial standing.

Avoid overdrafts and maintain your new account

Once you've opened a new bank account, make it your mission to keep it in good standing. Monitor your balance closely and avoid overspending to prevent overdrafts or bounced checks. Treat this account like a clean slate, and use it as an opportunity to prove you're a responsible account holder.

Set goals and plan for the future

Rebuilding your banking history isn't just about fixing the past. It's also about creating a brighter financial future. Start with short-term goals, like clearing your ChexSystems issues or saving a specific amount for emergencies.

Then, think bigger -- plan for milestones like qualifying for a high-yield savings account, securing a credit card, or even saving for retirement. By focusing on these goals and working toward them step by step, you'll set yourself up for long-term success.

Bottom line

Rebuilding your banking history takes effort, but it's also an opportunity to prove to yourself that you're capable of change. Every small win is a step toward financial freedom, so stay the course, celebrate your progress, and keep looking forward. You've got this!

FAQs

  • ChexSystems is a reporting agency used by banks to track your banking history. It includes information about unpaid balances, bounced checks, and overdrafts, helping banks decide whether to approve your account application.

  • Yes! There are banks that don't use ChexSystems, offering second-chance accounts to help you rebuild your banking history and get back on track.

  • Rebuilding takes time, but by paying off old debts, paying bills on time, and maintaining a positive account balance, you can gradually improve your standing and open the door to better banking options.