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nyccccc

Opening Business Checking Account Chexsystems

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I'm trying to get a business checking account in New York City but was denied by CapitalOne Spark and another bank for an entry in ChexSystems. I'm assuming it was an overdraft fee from over a year ago from a closed personal checking account. This issue was resolved a year ago, so my question is, is there a bank that would approve me for a business checking account?

Otherwise, should I have my wife as the signer? Really want to get this business checking account opened.

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5 hours ago, nyccccc said:

I'm trying to get a business checking account in New York City but was denied by CapitalOne Spark and another bank for an entry in ChexSystems. I'm assuming it was an overdraft fee from over a year ago from a closed personal checking account. This issue was resolved a year ago, so my question is, is there a bank that would approve me for a business checking account?

Otherwise, should I have my wife as the signer? Really want to get this business checking account opened.

Try some of the bigger banks. I know PNC, Fifth Third , Key , Chase, US Bank, will run only the EIN and not the signer. Woodforest even has a 2nd chance business account. But PNC, Key, and 5/3 may later run EWS on the signer, you will be fine if not on EWS.    Another option, right now, First Commonwealth Bank has branches in PA ( dont know how far you are from PA ) but you can open a business account at a branch or a personal account online. Currently, they are not looking at chexsystems reports and just by passing them, they believe everyone should have chance, I have driven miles and days to get an account. 

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Is your business an INC, LLP, LLC or are you a sole proprietor? I'll post options for NYC.

Edited by tmcgill

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Possible options for a business account in the NY area.

**To save time and a possible wasted inquiry, always call and verify current approval requirements.

 

Woodforest Bank - woodforestbank.com

Runs Chexsystems but offers second chance accounts.

 

PNC Bank - pnc.com

**Has been known to approve with negative Chexsystems information.

 

Affinity Credit Union - affinityfcu.com

(Ways to Join) https://www.affinityfcu.com/join-affinity/eligibility.aspx

**They use to run a credit report. Call and verify their current approval process.

 

Peoples Alliance Credit Union - pafcu.org

(Membership Requirements) https://www.pafcu.org/membership/

**When I last recommended them, they were verifying identity only.

Edited by tmcgill

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