If you have poor financial credit, many banks will consider you a risk for opening an account. Risk includes when you have bounced checks, kited checks, accrued NSF fees, or even had a negative balance for a specific amount of time. Oftentimes, once your poor credit has been noticed you will no longer be extended the opportunity to bank with ChexSystems banks.
If you have found yourself on the ChexSystems database, you may be wondering how you will ever open another bank account. Having your name in the ChexSystems database can be discouraging. However, there are financial institutions that will work with people that have questionable credit. It is impossible to survive day to day without a bank account, so these financial institutions can be of great assistance. Once you have survived five years, your name will be removed from the ChexSystems list and you can get into a more traditional bank.
This can mean that they may require a deposit to be held in reserve, in case of NSF fees, etc. or it may mean that they require some form of collateral. Either way, you are able to rebuild your credit by using these alternative banks or credit unions.
Michigan has several financial institutions that are Non ChexSystems Banks. You may want to start with them and see if they can provide the services you are looking for.
Please note that the information about non chexsystems banks changes each year (even month). We cannot guarantee any of the banks listed won’t do a non chexsystems check (though at the time of compiling, these banks don’t require a chexsystems check). You will have to call the banks to see.
We recommend trying to apply for the BBVA Compass ClearConnect Checking Account. This bank account can be applied for nationally and they have a reputation for giving accounts to customers with bad banking history — like you.
Even better, if you get your application rejected, they will offer you their Second Chance ‘BBVA Compass Easy Checking‘ Account. So either way, you should be able to get an account.
Non ChexSystems Banks in Michigan
- Sky Bank (888) 714-2528 **Now Named Huntington**
- South Trust (800) 922-4684 **Now Named Wachovia**
- TCF Bank (800) 823-2265
Second Chance Accounts in Michigan
Clarkston Brandon Community Credit Union Fresh Start Checking
Credit Union One Basic Checking
Horizon Bank Fresh Start Checking
Marshall Community Credit Union Fresh Start Checking
Members First Credit Union Fresh Start Checking
Michigan State University Federal Credit Union Rebuild Checking
More Non ChexSystems Banks in the US by State