What is ChexSystems and how do I open an account if I'm on it?

ChexSystems is a consumer reporting agency governed by the Fair Credit Reporting Act (FCRA) that tracks negative checking and savings account history—such as unpaid overdraft fees, involuntary account closures, or suspected fraud. Over 80% of U.S. financial institutions review your ChexSystems report when you apply for a new checking account, and negative marks stay on your record for 5 years. If you have a negative ChexSystems history, you have two proven paths: (1) Apply for a fintech checking account like Chime, which does not pull ChexSystems or Early Warning Services (EWS) reports; or (2) Apply for a designated 'Second Chance Checking' account at credit unions or institutions like Capital One 360, which offer fee-free checking without disqualifying applicants for past banking blunders.