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. This can make life very difficult as it is hard to survive without a bank account.
If you have found yourself on the ChexSystems database, you may be wondering how you will ever open another bank account. Luckily, there are financial institutions that will work with people that have questionable credit. 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. These provide an alternative to going bankless.
Tennessee 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. Then, try doing an Internet search for the most updated sources of non ChexSystems banks.
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 Tennessee
Colonial Bank (800) 226-5228 **Now Named BB&T**
First Tennessee National Bank (800) 382-5465
SouthTrust Bank (800) 922-4684 **Now Named Wachovia Bank**
Trustmark National (800) 844-2000
Second Chance Accounts in Tennessee
First National Bank Credit Builder Account
Greater Eastern Credit Union New Star Checking
Holston Methodist Federal Credit Union Second-Chance Checking
Home Federal Bank Square One Checking
Select Seven Credit Union Second Chance Share Draft
UT Federal Credit Union New U Checking