When a certain age is attained, getting a bank account becomes a priority in our lives. And in the early days of banking, there are some things we might not know how to use, and some tricks we don't know.
ChexSystems is a part of banking that many people have completely no idea about until when they are affected by it, or some few people who know it because they are curious and try to understand every bit of what they do and fall on it by mistake.
However the case, it is something very crucial about financing that it is essential to know. And more to even know the different banks that have involved this system into their platform.
Well, if you want to know if your bank or any other bank uses ChexSystems, then you are at the right place. We will provide a list of some banks that use ChexSystems Record below.
Which Banks Do not Overlook ChexSystems?
First of all, we will have to breakdown ChexSystems and tell you what it is all about, and how it works for those who have no idea what it is.
What are ChexSystems?
When we talk of ChexSystems, we mean a document or file, that shows whether someone has done something bad or good with their banking account or with their financial account.
That is, if you have a bank account and find yourself completing suspicious transactions, or doing fraudulent activities with that account, your account will be banned and be referred to the ChexSystems Record.
And so, several people who know what a ChexSystems record is, usually try their best to keep a clean record to avoid their account being closed completely.
Another thing that you should know is that, when your account or informations have been placed in a ChexSystems, you will be banned from creating another account for safety purposes since your previous account has fraudulent activities.
It is quite true that at times machines who run this system make mistakes and might place your account mistakenly in the ChexSystems record, that is where you can apply so that your previous records be reviewed by a real human and seen if it will be removed from the list.
Banks That Use ChexSystems Records
Here is a list of some popular banks that commonly use ChexSystems for screening applicants.
1. Bank of America: One of the largest banks in the U.S., it uses ChexSystems to evaluate the banking history of applicants.
2. Chase Bank: As a large national bank, Chase leverages ChexSystems data to make informed decisions on account approvals.
3. Citibank: Citibank utilizes ChexSystems to review an applicant's banking history, particularly for checking and savings accounts.
4. PNC Bank: PNC checks ChexSystems to assess potential account holders’ past banking behaviors before account opening.
5. TD Bank: This bank uses ChexSystems as part of its risk assessment process for new customer applications.
6. SunTrust Bank (now Truist): Truist banks check ChexSystems for new account applications to mitigate risk and ensure customer suitability.
7. Regions Bank: Regions Bank uses ChexSystems to determine eligibility for account opening and to analyze financial behavior.
8. Fifth Third Bank: They access ChexSystems to help qualify new customers and assess their banking history.
9. Huntington Bank: Huntington evaluates ChexSystems reports to identify potential risks when opening new accounts.
10. KeyBank: KeyBank relies on ChexSystems to help maintain a healthy customer base by screening applicant histories.
11. Alliance Bank: This local bank uses ChexSystems data to assist in risk assessments for new account holders.
12. BB&T (now part of Truist): BB&T checks ChexSystems for historical banking behavior before account approval.
13. BMO Harris Bank: Uses ChexSystems to screen for any negative banking history before opening new accounts.
14. M&T Bank: M&T Bank uses ChexSystems to evaluate risk and manage new account openings responsibly.
15. Citizens Bank: They rely on ChexSystems to assess the banking history of applicants to protect their operations.
16. American Express Bank: While primarily a credit card issuer, it also uses ChexSystems for some banking products.
17. Santander Bank: This bank checks ChexSystems to screen potential clients based on their past banking behavior.
Note That: We did not take time to explain because you might already know that they do use ChexSystems records. And you should also know that for those that do not use ChexSystems there is also a list for them, but we have given more details about them.
Some banks that may overlook your ChexSystems Record are; PNC Bank, Wells Fargo, Capital One, SoFi Bank, Go2Bank, Varo Bank, Chime, and many others
Difference Between Second Checking Account and Banks That Don't use ChexSystems
If you looked properly, you will notice that PNC bank is a bank that is involved in the list of banks that use ChexSystems, and in the list of banks that may overlook your ChexSystems. Why is that?
This is Simply because PNC is considered as a Second Chance account, and being a second chance does not prevent it from checking your previous records. Some people have applied for a second chance account and have been denied because their records where too harsh.
However, others who are simply not checking your revious records don't have anything to do with that, and even if your previous record was harsh, they can still provide an account for you.
And so, you should know that, a Second chance checking account may be denied, but the bank that really turns a blind eye won't even bother checking it.
Final Remarks on Banks that use ChexSystems Records
While Machines that verify the ChexSystems Records could make mistakes and add even those with a clean record, it is still very important to use banks that use this method.
This is because they will protect you and several others from the hands of multiple scammers who keep on scamming people online. And so, these banks above will give you added security to the one already there.
Well, and if you are a victim of computer errors, do not bother, because you can still continue banking by either checking and clearing up your ChexSystems Records, or by using a bank that overlooks ChexSystem Records.