Apsugirl26 Posted January 24, 2017 Does anyone have experience with banks settling on a old account so you can get removed from chexsystems and getting a new bank account? I want to pay my old account but I cant pay the whole amount but wondering if they would possibly settle on a smaller amount. I have an account with US Bank but I would like to change banks. The old account will fall off chexsystems next year. Should I just leave it alone and let it fall off and be patient? Quote Share this post Link to post Share on other sites
tmcgill Posted January 24, 2017 (edited) Unfortunately, paying will not remove the reported account. Chexsystems would have to update it to a paid status, and some banks will approve if owed amounts show they are paid. Since you have a year remaining, I suggest finding primary and backup non-Chexsystems accounts. Also, there are several banks that will approve if your negative Chex file info is 3 years or older. Do you know if you have any negatives in EWS (Early Warning Services)? This is a CRA owned by several of the big banks, and contains "fraud" alert reports. (Many of the reported accounts did not have actual fraud, but I think it is one more way these banks penalize accountholders who owe them money). Did you have possible banks in mind, or do you need suggestions for your location? How to check your EWS report: (800) 325-7775 Edited January 24, 2017 by tmcgill Quote Share this post Link to post Share on other sites
Apsugirl26 Posted January 24, 2017 Im really wanting to change to a credit union. The only 2 where I live is Altra Federal Credit Union and Fortera Credit Union. I really dont have an issue with US bank. I have heard that its better to be at a credit union than a big bank. I spoke with Altra and they told me that if I show proof I paid BOA then I could apply, but I owe BOA alot and wasnt sure If I could just call BOA and see if they would settle with a smaller amount than what I owe. Quote Share this post Link to post Share on other sites
tmcgill Posted January 24, 2017 (edited) Possible Options: Hope Credit Union hopecu.org Second Chance Account For Those On Chexsystems. Open to TN residents and those in neighboring states. **Note: They are in Jackson, TN and you might have to travel to open the account. Once opened, they are members of the Co-Op network. Once the account is open, you could use a local member credit union for banking. Co-Op members near you are on their website. Highland Federal Savings and Loan (Crossville, TN) highlandfederal.com ID Check only - No Chexsystems Although you have been looking for a credit union, we have gotten good recommendations for online banking through Chime Bank. You could use that as a backup. https://www.chimebank.com/ Edited January 24, 2017 by tmcgill Quote Share this post Link to post Share on other sites
Apsugirl26 Posted January 25, 2017 Hey tmc, have you heard if Hope Credit Union denies you online if your on chexsystems? They are not close or I would go to a branch. I know when I went to US bank, I had to go to a store branch. Quote Share this post Link to post Share on other sites
tmcgill Posted January 25, 2017 (edited) I spoke with them last December, and you can apply for the second chance account and membership online. Note: Let us know if you decide to apply and any updates. Good luck! Search for Shared Branches (Co-Op Network) in Your Area Here: https://co-opcreditunions.org/locator/ Edited January 25, 2017 by tmcgill Quote Share this post Link to post Share on other sites