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2nd Chance checking accounts in the U.S.
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Second Chance Accounts for Checking in the U.S.
Second chance checking can be a viable option in the event that you've been denied an account due to a bad credit history. The accounts are available in every state.
by Spencer Tierney Senior Writer | Certificates of deposit and ethical banking, as well as banking deposits Spencer Tierney is a consumer banker at NerdWallet. He has been writing about the personal financial sector since, with a focus on certificate of deposit, as well as other banking subjects. The work he has written for him was covered by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among other publications. The location of his work is Berkeley, California.
and Chanelle Bessette as Lead Writer/Spokesperson. Banking, checking accounts, cash management accounts Chanelle Bessette is a personal finance writer at NerdWallet that covers banking. She was previously employed at Fortune, Forbes and the Reno Gazette-Journal. She also serves as a spokesperson for the bank team. Her expertise has been published in The New York Times, Vox and Apartment Therapy.
Updated Mar 3, 2022
Editor: Carolyn Kimball Assigning Editor - Banking | Los Angeles Times, San Jose Mercury News Carolyn has been employed in newsrooms across the nation as a reporter and editor. Her passions encompass personal finance, Sci-Fi books and absurd Broadway musicals.
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If you've had the unfortunate experience of being refused a checking account due to previous problems with banking -- like a bank account being closed due to unpaid overdraft fees A second chance check could offer you another shot in the banking world.
>> Ready to review accounts? Go ahead and click
What is second chance checking?
A serious banking issue could land you on a list held by the consumer report agency ChexSystems. Banks look at ChexSystems or other sources prior to approving new accounts -- and having a shaky background in banking due to bounced checks, fees not paid or account closures make it less likely you'll be approved.
Some credit unions and banks offer "second chance" checking accounts for people who are in this type of situation. These accounts are able to help to rebuild their bank histories, but they don't have all the features that are available standard checking accounts.
What are the pros and cons of second chance checking?
The second chance accounts usually include monthly charges that cannot be waived, and they usually have higher requirements than standard checking accounts. This includes the setting up of direct deposit or completing a money management class. You typically can't enroll in an overdraft programbecause the reason for having an account with a second chance is to prove that you are able to avoid excessive withdrawals.
Checking accounts with these types of accounts can help improve your banking history however they aren't able to help rebuild credit. Consider an secured credit card.
Despite their limitations second chance checking accounts often beat alternatives, such as cash-on-check services. These can come with costly transactions and fees for balances however, they may not have useful features such as online banking.
If you are able to stay clear of the negative effects of negative balances or fees, many second chance checking accounts let you upgrade to a regular checking in six months to a year.
Are you interested in exploring an alternative option? Take a look at our list of the
Making a second attempt at a checking account
The most effective second chance accounts include:
No or low monthly costs.
There is no minimum balance requirement.
Services include the use of debit cards, internet bill payment with unlimited write-on check privileges- for no cost.
A few limitations, like monthly or daily maximum transaction amounts.
Second chance checking accounts have these options. There are some that charge monthly fee of up to $20 and do not issue the debit or check to those who have accounts. Make sure you know the fees and other requirements prior to applying.
National second chance bank
A few banks and financial firms supported by banks offer second chance checks across the country:
(account name: Spending Account, available online)
(account account name is GoBank account name: GoBank. It is available on the internet as well as at Walmart retail stores).
(account name: Essential Checking, available online).
(account name: Bank Account, available online)
(account Name: Clear Access Banking, available in 39 states and Washington, D.C.).
Major banks rarely offer second chance checking, but some community banks and credit unions have these services under different names, such as Opportunity Checking and Fresh Start Checking.
If you aren't able to find one on the list below, see if your community is part of the Bank On program. This is a program that several communities have joined which lets city governments and local banks collaborate to assist those who are trying to return to the banking system. Another option is to consider a prepaid debit card with strong services and low costs.
Compare second chances for checking accounts
NerdWallet's ratings are determined by the editorial staff. The scoring formulas take into account several data points associated with each financial service and product.
GoBank
Monthly fee: $8.95 (unless the fee is waived).
Overdraft fee The amount is not a problem.
Special feature : Up to 2 day early direct transfer.
The NerdWallet ratings are made by our editorial team. The scoring formulas are based on many data points for each financial product and service.
at Varo Bank, Member FDIC
Varo
Monthly cost No fee for the month.
Overdraft fees : None.
Special feature : 55,000 free ATMs.
The NerdWallet ratings are made by our editorial team. The scoring formulas are based on several data points associated with each financial product and service.
LendingClub Essential Checking
Monthly fee : $9.
Overdraft fees : $5.
Special feature : Possible to change to rewards checking within one year.
Regional and state-based second chance checking accounts
Certain regional credit unions and banks have second chance account options. However, the customers are required to reside in certain states or meet specific membership requirements. Here's a list with a few banks and credit unions that offer second chance accounts.
Regional bank and credit union accounts
American Airlines Credit Union : Appalachian Community Federal Credit Union : Bank of the Ozarks : BOK Financial : Centennial Bank : City National Bank : Corporate America Family Credit Union : Fifth Third Bank : First Financial Bank : Hope Credit Union : OneUnited Bank : Republic Bank : Simmons Bank : Staley Credit Union : Unify Financial Credit Union : Webster Bank : Woodforest National Bank :
Do you want (or require) an account at an institution of state? You can find options by clicking here.
Alabama
Avadian Credit Union : Azalea City Credit Union : Community Bank & Trust : Family Security Credit Union : First National Bank : Gulf Winds Federal Credit Union : United Bank :
Alaska
True North Federal Credit Union :
Arizona
Alhambra Credit Union : Banner Federal Credit Union : Copper State Credit Union : MariSol Federal Credit Union : Tucson Old Pueblo Credit Union :
Arkansas
Diamond Bank : Red River Credit Union : River Valley Community Federal Credit Union :
California
Befit Financial Federal Credit Union : Excite Credit Union : Foothill Credit Union : Los Angeles Federal Credit Union : North County Credit Union : Premier America Credit Union : Priority One Credit Union : Self-Help Federal Credit Union : Strata Credit Union :
Colorado
Liberty Savings Bank : NuVista Federal Credit Union :
Connecticut
Eastern Savings Bank : Finex Credit Union : Hartford Federal Credit Union : Tobacco Valley Teachers Federal Credit Union :
Delaware
No accounts found at state-based financial institutions. Check for regional and national alternatives.
District of Columbia
There are no accounts in banks and financial institutions located in the United States. Find regional and national options.
Florida
Axiom Bank : Central Credit Union of Florida : Community First Credit Union : Compass Financial Federal Credit Union : First American Bank : First Florida Credit Union : Gold Coast Federal Credit Union : Gulf Winds Federal Credit Union : JetStream Federal Credit Union : Liberty Savings Bank : McCoy Federal Credit Union : Membership First Credit Union of Florida : Okaloosa County Teachers Federal Credit Union : Priority Credit Union : San Antonio Citizens Federal Credit Union : South Florida Federal Credit Union : United Bank :
Georgia
Community Bank & Trust : Excel Federal Credit Union : Georgia's Own Credit Union : Health Center Credit Union : Members United Credit Union : Peach State Federal Credit Union :
Hawaii
None of the accounts are found in state-owned financial institutions. Look for national and regional options.
Idaho
Latah Credit Union :
Illinois
Catholic & Community Credit Union : First American Bank : First National Bank and Trust Company : Marquette Bank : Prairieland Federal Credit Union :
Indiana
Centra Credit Union : Diamond Valley Federal Credit Union : Evansville Teachers Federal Credit Union : Heritage Federal Credit Union : Horizon Bank : Park Community Credit Union : Regional Federal Credit Union :
Iowa
Collins Community Credit Union : Federation Bank : Greater Iowa Credit Union : North Iowa Community Credit Union :
Kansas
Central National Bank : United Consumers Credit Union :
Kentucky
The Cecilian Bank : Central Bank : Evansville Teachers Federal Credit Union : First United Bank and Trust Company : FNB Bank : Heritage Federal Credit Union : Home Federal Bank : Park Community Credit Union :
Louisiana
Pelican State Credit Union : Southwest Louisiana Credit Union :
Maine
Five County Credit Union :
Maryland
Central Credit Union of Maryland : Clear Mountain Bank : Market USA Federal Credit Union : Security Plus Federal Credit Union :
Massachusetts
Alden Credit Union : Athol Credit Union :
Michigan
Credit Union One : Horizon Bank : Marshall Community Credit Union members First Credit Union : Michigan State University Federal Credit Union :
Minnesota
Minnesota Valley Federal Credit Union :
Mississippi
Citizens National Bank : Gulf Coast Community Credit Union : Magnolia Federal Credit Union : MUNA Federal Credit Union :
Missouri
Columbia Credit Union : Electro Savings Credit Union : First State Community Bank : Health Care Family Credit Union : Montgomery Bank : St. Louis Community Credit Union : Town & Country Bank : United Consumers Credit Union : United Credit Union : Wood & Huston Bank :
Montana
Clearwater Credit Union : Valley Credit Union :
Nebraska
Central National Bank :
Nevada
Clark County Credit Union : WestStar Credit Union :
New Hampshire
No accounts found at state-based financial institutions. Find national options.
New Jersey
Credit Union of New Jersey : Jersey Shore Federal Credit Union : United Teletech Financial Federal Credit Union :
New Mexico
Bank of Albuquerque : Lea County State Bank :
New York
Adirondack Regional Federal Credit Union : Alternatives Federal Credit Union : Centra Credit Union : Financial Trust Federal Credit Union : Fulton Savings Bank : Genesee Valley Federal Credit Union :
North Carolina
Charlotte Metro Credit Union : Excite Credit Union :
North Dakota
There are no accounts at state-owned financial institutions. Check for national options.
Ohio
Buckeye State Credit Union : Eaton Family Credit Union, Inc. : Hopewell Federal Credit Union : Kemba Federal Credit Union : Members Trust Federal Credit Union : Superior Credit Union :
Oklahoma
Allegiance Credit Union : Bank of Oklahoma : Citizens Bank of Edmond : Oklahoma Educators Credit Union : TTCU Federal Credit Union Weokie (Credit Union) : Western Sun Federal Credit Union :
Oregon
Point West Credit Union :
Pennsylvania
Utilities Employees Credit Union : West Branch Valley Federal Credit Union :
Rhode Island
No accounts found at state-based financial institutions. Find regional and national alternatives.
South Carolina
Caro Smart Financial Solutions : Carolina Trust Federal Credit Union : HopeSouth Credit Union : Market USA Federal Credit Union : Peach State Federal Credit Union Vital Federal Credit Union :
South Dakota
There are no accounts at state-owned financial institutions. Look for options that are national.
Tennessee
First National Bank : Greater Eastern Credit Union : Holston Methodist Federal Credit Union : Home Federal Bank : Select Seven Credit Union :
Texas
4U Credit Union : Abilene Teachers Federal Credit Union : AFFCU : Allied Federal Credit Union : Associated Credit Union of Texas : Bank of Texas : Baptist Credit Union : Chocolate Bayou Credit Union : Diamond Bank : First Service Credit Union : Houston Metropolitan Federal Credit Union : Kelly Community Federal Credit Union : MemberSource Credit Union : Members Trust Federal Credit Union : Memorial Credit Union : Neighborhood Credit Union : North East Texas Credit Union : Peoples Bank : Premier America Credit Union : Prestige Community Credit Union : Red River Credit Union : Rio Bank : Select Federal Credit Union : Southside Bank : Tarrant County's Credit Union : United Heritage Credit Union : Unity One Credit Union :
Utah
American United Federal Credit Union : Cyprus Credit Union :
Vermont
No accounts found at state-based financial institutions. Find national options.
Virginia
Central Virginia Federal Credit Union : Healthcare Systems Federal Credit Union : Member One Federal Credit Union :
Washington
MountainCrest Credit Union :
West Virginia
Clear Mountain Bank : West Virginia Federal Credit Union :
Wisconsin
Brewery Credit Union : Dane County Credit Union : First National Bank and Trust Company : Tomahawk Community Bank :
Wyoming
WyHy Federal Credit Union : WYO Central Federal Credit Union : Valley Credit Union :
Did we leave an institution that you have a financial relationship with on of this list? Please .
About the authors: Spencer Tierney is a writer and NerdWallet's authority for certificates of deposit. He has had his work featured in USA Today and the Los Angeles Times.
Chanelle Bessette works as a financial writer for NerdWallet writing about banking. She specializes in checking and cash management accounts.
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