Alliant Credit Union offers banking services to individuals and business customers across the United States, but what many people don’t know is that they may still be able to open an account with Alliant even if they have something in their history at ChexSystems.
The following explains what ChexSystems is, how to see your report, and whether or not you can get an account at Alliant even if there’s information in your history with them.
Understanding what ChexSystems is
ChexSystems is a national consumer reporting agency that collects and maintains information on your checking and savings account history. This agency keeps track of people who have misused checking and savings accounts.
This includes things like writing bad checks, having too many overdrafts, or closing an account with unpaid fees. ChexSystems has kept track of this information for five years.
This information is then provided to financial institutions so they can make informed decisions about approving new account applications. If you have been denied an account at another bank due to negative information in your file, it’s likely because of the use of ChexSystems.
For this reason, some people with bad banking histories are unable to open an account at any bank or credit union.
How to avoid having negative information in your report in the first place
You can avoid having negative information in your report by doing things like paying your bills on time, not overspending, and monitoring your account activity.
Additionally, you can request a free report from ChexSystems once every 12 months to check for accuracy. If you find any errors, you can dispute them with the credit bureau.
Will Alliant Bank Check My ChexSystems Record?
Alliant Credit Union is a bit different from other financial institutions when it comes to checking an applicant’s background. They are more interested in your overall financial history, rather than just your ChexSystems record.
However, if you have a negative mark on your ChexSystems report, it’s still possible that Alliant will deny your application.
For this reason, some people choose to open up a new account with another bank first before applying for a loan at Alliant.
Looking for an Account Without ChexSystems?
If you’re looking for a new bank or credit union and have been declined due to your ChexSystems report, Let’s see the other options for you.
Chime Bank is a new, innovative way to pay for things. Chime Bank is “the bank for the future”.
It provides users with access to a variety of products, including savings accounts, loans, insurance, and investments.
It’s an online bank that lets you send and receive money with anyone, using their mobile phone number as your user ID.
Chime Bank lets you make payments just by sending them to someone else’s mobile phone. You can buy something online or pay your friend back for lunch without having to go through a traditional payment system like PayPal, Venmo, or Square Cash.
We believe Chime Bank will be an indispensable part of our daily lives within the next few years.”
Navy Federal bank
Navy Federal Credit Union is the world’s largest credit union with over 8 million members and $91 billion in assets. They offer a full range of banking products and services to their members, including checking and savings accounts, loans, and credit cards.
One thing that makes them unique is that they are one of the credit unions that offers free checking with no minimum balance requirement.
Navy Federal also has an ATM locator feature on their website so you can find out where you can withdraw cash for free if you happen to be out and about without any cash on hand.
Founded in 1985, Suntrust Bank is one of the largest banks in the United States. They have over 1,400+ branches and 2,160+ ATMs spread across the country.
Suntrust offers a variety of banking products and services to both individuals and businesses. One thing that sets Suntrust apart from other banks is that they cannot use ChexSystems.
Instead, when someone’s account has been closed for fraud or bad check charges, it will be on file with Equifax. In this way, you can be assured that your checking account will not be closed due to these types of charges as long as you open it with Suntrust Bank.
Sofi is a modern bank that offers products and services to help you manage your money better. One of the things they offer is a checking account that doesn’t use ChexSystems.
They also have no overdraft fees, monthly service fees, or minimum balance requirements. They do charge for ATM withdrawals, which can be waived with direct deposit or bill pay.
But if you don’t need to withdraw cash often, this may not be an issue. Their rates are competitive too. Some other reasons to open an account with them include their sign up bonus, savings accounts without fees, higher interest rates on balances above $5,000, student loan refinancing options at low rates and a Visa card option.
US Bank is a US-based bank with about $1.4 trillion in assets, making it one of the largest banks in the United States and one of the largest financial institutions in the world. It has more than 2900+ branches and 3,200 ATMs across 25 states.
The US Bank brand is one of the most recognized and trusted names in banking. It’s an important part of the financial services industry, serving as a leader in local communities and providing superior products and services to customers.
The company operates in four primary business segments: Consumer and Community Banking; Commercial Banking; Wholesale Banking; and Investment Management.