6 Trust-Inspiring Banks That Don’t Use ChexSystems in 2022

Overview — Chime is one of the best banks that don’t use ChexSystems to vet customers applying for online checking, savings, or credit builder accounts.

The application process takes only two minutes of your time, it doesn’t impact your credit score, and there are no opening fees, minimum deposits or minimum balance requirements. Plus, you can deposit your money at any Walgreen store using your Chime card free of charge.

Accounts —  You can open three types of accounts on Chime:

• Checking account
• Savings account
• Credit builder account

All three accounts come with zero opening and maintenance fees, a debit card, and no credit check.

However, if you want to open the Credit Builder account, you’ll first need to open a checking account and deposit a minimum of $200.

Features & Benefits — Like many other digital non–ChexSystems banks, Chime offers a multipurpose mobile app for Android and iOS.

The app allows you to send money to your friends or family members (even if they don’t have Chime), disable transactions, deposit a check, or request a new debit card.

Another thing that makes Chime stand out from the competition is its accessibility. Namely, Chime card users have access to over 60,000 fee-free ATMs (there’s a $2.50 withdrawal fee if you use an out-of-network ATM).

Chime is also one of the few ChexSystems banks that offers two automated savings programs.

The first one rounds up all your Chime debit card purchases to the nearest dollar and allocates the remaining change to your savings account. The second option allows you to allocate a percentage of your paycheck to your savings account.

Besides this service, Chime’s other popular choice is a debit card for families with kids.

Overview — Axiom Bank is one of the best second chance banks that offer a variety of private and business accounts to people with a bad financial history. The bank is located in Central Florida, and you can find most of its branches within Walmart Supercenters.

You can open an account on Axiom by visiting one of the physical branches or using the online application. The process usually takes 7–10 business days.

Accounts — Axiom Bank offers personal and business checking accounts in addition to:

• Personal savings
• Personal CDs/IRAs
• Small business checking
• Small business savings and CDs

To open a checking account on Axiom, you’ll need to deposit $25, and the monthly fees for all accounts range between $5.99 and $15.00. The only account with no monthly fees is the Axiom Senior Checking account.

If you’re looking for good second chance banking, you should opt for the Opportunity checking account. It’s designed to give consumers a second chance to establish a good banking history. It also comes with unlimited check writing and no minimum balance.

Features & Benefits — Axiom Bank is an ideal choice for people who are into digital and traditional banking since cash transfers can be made either online or via one of the bank’s physical locations. Plus, the bank offers a user-friendly mobile app for Android and iOS.

While Axiom’s app doesn’t offer anything groundbreaking, it’s highly functional and extremely easy to use. You’ll get to use all essential tools, such as:

• Account management
• Account balance inquiries
• Paying bills
• Controlling transactions
• Setting up alerts
• Money transferring
• Branch and ATM locator, etc.

Last but not least, all Axiom second chance bank accounts are FDIC-insured ($250,000 per depositor).

Overview — Upgrade is a digital bank that recently launched a special checking account that offers its users high cashback on everyday expenses (up to 2%). It also comes with zero transfer, monthly, ATM, and overdraft fees.

Additionally, the bank will rebate your ATM fees charged by other banks up to five times a month if you’ve maintained an average daily balance of $2,500 or have made a direct payroll deposit of $1,000 during the previous month.

Accounts —  Compared to other no ChexSystems bank accounts, Upgrade’s rewards checking account comes with one unique feature. If you keep your account active, you’ll be able to get 20% lower rates on Upgrade cards and loans.

On top of that, once you use Upgrade’s debit card, you’ll be eligible for a 2% cashback on expenses at gas stations, restaurants, grocery stores, etc., and an unlimited 1% cashback on all other purchases.

Features & Benefits — One of Upgrade’s best features is the free credit score monitoring tool. It’ll give you access to your VantageScore, where you can check your credit report.

Moreover, the tool also comes with educational articles, personalized recommendations based on your credit history, email alerts, trending charts, and many other features.

To use the tool, you’ll have to create an account on Upgrade.

Like other second chance banks with online-only accounts, Upgrade comes with a mobile app that allows you to:

• Check your balance
• Pay your bills
• Track your rewards
• Transfer your funds

Overview — Next on our list of banks that don’t use ChexSystems, we have Acorns’ robo-advisor app designed specifically for investors.

Acorns works like a micro-investing app. It’ll automatically invest the change (rounded up to the nearest dollar) from your everyday purchases.

For example, if you spend $4.25 on breakfast, it’ll automatically be rounded up to $5, and the difference (75 cents in this case) will be instantly invested.

Accounts —  Acorns lets you choose between two tiers: Personal ($3.00 per month) and Family ($5.00 per month).

The personal plan comes with an investment account, a retirement account, and a checking account, whereas the Family plan includes all the aforementioned accounts + an investment account for kids.

Acorn’s online checking accounts have no minimum deposits or balance requirements.

Features & Benefits — As mentioned before, Acorn is an ideal second chance banking solution for inexperienced investors since the app has an automated savings tool and an automatic rebalancing option.

In other words, if the market shifts, Acorns will automatically adjust your portfolio to maintain it within its intended allocation.

Acorns is also partnered with more than 350 brands, such as Walmart, Sephora, and Nike. To use the cashback option, you need to connect your card with your active Acorns account. Your bonus investment profits will be credited to your account within 60–120 days.

The Acorns mobile app is available for iOS and Android.

Overview — If you’re after banks that don’t use ChexSystems for business accounts, NorthOne should be your first choice. NorthOne accounts are built specifically for small business owners and freelancers.

You may link your NorthOne business account to numerous third-party apps, such as Stripe, PayPal, Amazon, Lyft, QuickBooks, etc. Through these connections, you can receive payments, sync transaction data, view and pay invoices, etc.

Accounts —  To open a NorthOne business checking account, you’ll need to pay a monthly fee of $10 and make an initial deposit of $50.

You’ll also get a debit card, which you can use to make cash deposits at Green Dot locations ($4.95 fee per deposit). Besides the monthly $10 fee, you’ll have to pay a $15 fee for domestic wire transfers (incoming and outgoing) and a $25 fee for international wire transfers.

Features & Benefits — Many banks that do not use ChexSystems offer unique features to their clients, and NorthOne is no exception.

Its main feature is called Envelopes. This tool will help you plan and organize your major expenses, such as payroll and taxes. You can create as many plans (envelopes) as you like and set your own rules. Pretty much like the famous cash envelope system, but more practical since you don’t deal with actual envelopes.

In addition to Envelopes, small business owners will benefit from NorthOne’s free Invoice Maker App that’s compatible with iOS and Android mobile devices. The app helps you create professional invoices using pre-built templates, keep track of payments, and send reminders.

Overview —  If you’re looking for banks with second chance checking/savings accounts with no minimum balance and deposit requirements, GO2Bank has got you covered.

Namely, GO2Bank is Green Dot’s flagship digital bank that provides an inexpensive alternative to traditional banking.

Accounts —  GO2Bank offers an excellent checking/savings hybrid account for only $5 per month. The monthly fees will be waived once you receive a payroll or government benefits direct deposit. This is also a high-yield savings account with a 1% APY on savings up to $5,000.

When it comes to fees, apart from the monthly fees, GO2Bank members will also be subject to:

• Cash deposit fees (up to $4.95)
• Out-of-network ATM withdrawal fee ($3 per transaction)
• Out-of-network ATM balance inquiry ($0.50 per transaction)
• Teller cash withdrawal ($3 per transaction)
• Foreign transaction fee (3% of the transaction amount)
• Overdraft protection fee ($15)

Features & Benefits — Compared to other second chance checking banks on our list, GO2Bank provides the highest cashback option of up to 7% on electronic gift card purchases. For example, Amazon eGift Cards will provide a 3% cashback.

Another key feature we need to mention is GO2Bank’s overdraft protection for up to $200. However, to qualify for this feature, you’ll need to get a minimum of $200 in direct deposits over a 35-day period.