If you have ever tried to open a bank account and been denied, it could be because you have shown up on the ChexSystems database. ChexSystems is an agency that collects financial information on customers who repeatedly show they are a risk to banks. This 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. Your name and information will be held on file for 5 full years, thus preventing you from having interactions with financial institutions that subscribe to their service.
However, most states have what are sometimes called ‘last chance banks’ or ‘non-ChexSystems banks’ which provide services to customers with bad credit. These financial institutions accept you, knowing that you are a risk. They realize that you might have some trouble keeping your accounts balanced, so they accept this risk by often requiring some form of security deposit. By using these banks you are able to rebuild your credit. Once you have survived five years, your name will be removed from the ChexSystems list and you can get into a more traditional bank.
Mississippi has several financial institutions that are Non ChexSystems Banks. You may want to start with these 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 Mississippi
First Tennessee National Bank (800) 382-5465
Trustmark National Bank (800) 243-2524
Second Chance Accounts in Mississippi
Citizens National Bank Clean Slate Checking
Gulf Coast Community Credit Union Second Chance Checking
Magnolia Federal Credit Union Opportunity Checking
MUNA Federal Credit Union Fresh Start Checking
More Non ChexSystems Banks in the US by State