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5 Banks for an Online Checking Account No ChexSystems

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Opening an online checking account No ChexSystems can make you bankable again.

Online-only banking is here to stay. It’s convenient, hassle-free, and safe. Plus, most online banks can offer higher savings interest rates and lower fees because they save tons of money by not having physical branches.

Many people shut out of banking are familiar with ChexSystems or Early Warning Services. Over 80% of banks use ChexSystems or Early Warning Services when deciding to open customer accounts. Having a negative banking history can be detrimental to financial growth.

5 Banks to Consider for Online Checking Account No ChexSystems

1. Sable Banking


The Sable account is a no credit check, no fee account that earns unlimited 1% cash back on everyday purchases. Get a debit card in your digital wallet and start using it instantly.

Sable Account Features

  • Open your account with as little as $25.00
  • Get a dollar-for-dollar match on all cash back at the end of your first year with Sable’s Double Cash Bonus.
  • Earn 1% cash back on everyday purchases at Amazon, Uber, Uber Eats, Whole Foods, Netflix, Spotify, and more!
  • No credit check or US credit history required and no SSN required for non US citizens.
  • Open a restricted account before you step foot in the U.S or have a U.S address.
  • Zero hidden fees—no annual fees, no additional ATM fees, no overdraft fees, no card replacement fees, and no minimum deposit.
  • Premium benefits like extended warranty where Sable will double the warranty for eligible items purchased with your Sable card, and satisfaction guarantee where Sable will cover most purchases if you become dissatisfied with a new product within 60 days of purchase, and much more!

2. Current – Banking for modern life


Current Account does not use ChexSytems or a credit report to open accounts. One unique feature Current offers are no-holds on debit card gas purchases. Some gas stations may apply a hold of up to $100 when you use a debit card. These holds lock the amount being held, making it unavailable for spending. The Current debit card will immediately refund the hold so that you don’t have available funds locked for days.

Current Account Features

  • $10 minimum opening deposit.
  • Savings feature that pays 4.00% APY on balances up to $6,000.
  • No overdraft fees when you overdraw by up to $200 with Overdrive™.
  • Get your paycheck up to 2 days early with direct deposit.
  • Earn points for unlimited cashback at participating retailers.
  • Gas station holds immediately credited to your account.
  • Send money instantly for free.
  • 24/7 member support.

3. SoFi Bank Checking Account – up to $325 Welcome Bonus


The Checking Account at SoFi offers cash-back rewards when you spend at a rotating list of your favorite brands and merchants.

Earn a $25 Welcome Bonus when you deposit at least $10 from an existing Visa Debit Card or Mastercard Debit Card.
Earn an extra $300 Welcome Bonus for setting up direct deposit.

Checking Account Features

  • No monthly maintenance fee.
  • Minimum opening deposit of $10.
  • Earn 1.25% APY on all your cash with SoFi Money if you set direct deposits. Without direct deposit you will earn 0.70% APY.
  • 55,000+ fee-free ATMs.
  • Get paid up to 2 days early with direct deposit.
  • No-fee Overdraft Coverage with qualifying monthly direct deposit.
  • Deposit checks, get real-time alerts, freeze or unfreeze your card, change your pin, and more—all from your phone.
  • FDIC insured.

4. Upgrade Rewards Checking

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The Upgrade Rewards Checking Account offers up to 2% cash back on common everyday expenses at grocery and drug stores, gas stations, monthly subscriptions, restaurants, and cell phone utilities. Plus, account holders get unlimited 1% cash back on all other debit card charges. This account takes less than 10 minutes to open, the process is simple and easy.

Upgrade Rewards Checking Features

  • No ATM fee, no account fee, no monthly, and no overdraft fee.
  • 2% cash back on common everyday expenses and recurring payments and unlimited 1% cash back on every other debit card charge.
  • Use your Rewards Checking card wherever Visa® is accepted.
  • Upgrade will rebate ATM fees charged by another institution up to five times a month when you meet certain conditions.
  • As an added bonus, Rewards Checking customers can receive discounts on new loans and cards through Upgrade.
  • FDIC-insured up to $250,000.

Rewards Checking is offered by Upgrade Inc, a nonbank financial services provider founded in 2016 and based in San Francisco, CA. It is made possible by a bank partnership with Cross River Bank, Member FDIC. Upgrade VISA ® Debit Cards issued by Cross River Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Rewards Checking is available in 50 states (and Washington, DC).


5. OneUnited Bank


OneUnited Bank’s Online Checking Account is available to people in ALL STATES. We like OneUnited Bank because customers can add cash to the OneUnited Bank Debit Card at over 90,000 locations across the country through a partnership with Green Dot®.

OneUnited Bank offers the Black Wall Street Checking account with no monthly fee. However, if you don’t qualify, they offer the U2 E-Checking Account specifically designed for bad credit.

To get started go to the “Get the Card” button, enter your name, email address and cell phone number. Choose the Black Wall Street Checking account option along with the opening deposit ($25.00 minimum), then complete your identification details (name, address, SSN, and employer).

Black Wall Street Checking Account Features

  • Minimum opening deposit of $25 (can be funded with a credit card).
  • No monthly fee.
  • Get paid up to 2 days early with early direct deposit.
  • Free Online & Mobile Banking.
  • Obtain Cash, Surcharge Free at Over 35,000 ATMs Nationwide.
  • Deposit checks through the mobile app.
  • Free Bill Pay
  • OneUnited also offers a secured credit card that reports to the major credit bureaus.

Banks can cause multiple overdrafts

Checking account reports mainly reflect account overdrafts or NSF transactions which make up the vast majority of account closures reported. Researchers in a study by Harvard Business School, estimated that only 2.5% of account closures are due to fraudulent activities; the remaining 97.5% are caused by overdrafts.

The problem with overdrafts is that the bank may hold some responsibility in causing multiple overdrafts based on one transaction. A report by the Pew Charitable Trusts found that 40% of the biggest U.S. banks surveyed, order transactions in a way that leads to increased overdrafts.

The overdraft fees were caused by the order in which the banks processed debit transactions — purchases, payments, and withdrawals — in order from the highest amount to the lowest.

Instead of processing transactions in the order that your bank receives them, banks can choose to process the biggest first, which brings your account balance down more quickly, leading to more overdraft fees. It’s unfortunate that a customer could end up with a ChexSystems or EWS record that was caused by the bank.

The problems with ChexSystems reports

It goes without question that banks and credit unions must have a way to screen new customers for risk potential. But for some financial institutions, a negative account screening report results in an automatic denial of any account without considering the bigger picture.

Unlike a credit report, ChexSystems and EWS do not contain positive information on a consumer’s banking history that could possibly balance out negative information.

Benefits of Online Checking Accounts

Benefits of an online checking account no ChexSystems ispretty much the same benefits of in-branch checking account. Just about everything you can do with a checking account in bank branches, you can do with an online checking account.

Here are several benefits:

  • An online checking account can help consumers in ChexSystems because online management tools allow customers to see full account details at any time. With instant alerts and updates it is easier to keep up with transactions and avoid mishaps that may land consumers in ChexSystems.
  • Not having to maintain a large network of branches means banks can pass the savings onto customers. Other perks are often also available, like ATM reimbursements.
  • Online banks’ checking and savings accounts come with higher interest rates and fewer fees than those at traditional banks.

You deserve a new account.

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