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Second Chance Accounts for Checking Across the U.S.

 

 

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2nd Chance checking accounts in the U.S.

 

Second chance checking is an option if you've been rejected for an account due to poor banking history. Accounts are offered across all 50 states.

 

Written by Spencer Tierney Senior Writer | Certificates of deposit, ethical banking, banking deposit accounts Spencer Tierney is a consumer banker at NerdWallet. He has written about the personal financial sector since, with a particular focus on certificates of deposit as well as other banking-related subjects. His work has been highlighted on The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. He is located in Berkeley, California.

 

 

 

 

 

and Chanelle Bessette Lead Writer/Spokesperson Banking, checking Accounts, Cash management accounts Chanelle Bessette works as a financial writer at NerdWallet covering banking. She was previously employed at Fortune, Forbes and the Reno Gazette-Journal. She is also a spokesperson for the banking team. Her work has been published on The New York Times, Vox and Apartment Therapy.

 

 

 

 

 

 

Updated on Mar 3, 2022.

 

 

 

Written by Carolyn Kimball Assigning Editor - Banking | Los Angeles Times, San Jose Mercury News Carolyn has worked in newsrooms all over the nation as a reporter and editor. Her passions include personal finance, sci-fi books and absurd Broadway musicals.

 

 

 

 

 

 

 

 

 

 

 

A majority of the products we feature are from our partners who compensate us. This influences which products we review and where and how the product is featured on the page. But, it doesn't affect our assessments. Our opinions are our own. Here is a list of and .

 

 

 

 

If you've had the unfortunate experience of being denied a check account due to previous problems with banking -- like a bank account being closed due to unpaid overdraft fees Second chance checking could offer you another shot at banking.

 

Are you ready to compare accounts? Skip ahead to

 

What is second chance checking?

 

Serious banking issues can put you on a waiting list by the consumer report agency ChexSystems. The banks will look over it and other sources before approving new accounts -- and having a flawed banking history from bounced checks, fees not paid or account closures make it less likely that you'll be approved.

 

Certain credit unions and banks provide "second opportunity" checking accounts to people who find themselves in this kind of circumstance. The accounts can help people rebuild their banking histories however they do not offer all the benefits that come from regular accounts.

 

What are the advantages and disadvantages of checking twice?

 

Second chance checking accounts generally include monthly charges that cannot be waived. They also typically have more conditions than traditional checking accounts. This includes setting up direct deposit or completing a money management course. You typically can't enroll in an overdraft plan, as the point of the second chance account is to demonstrate that you are able to avoid the risk of overdrawing.

 

Checking accounts with these types of accounts can help build a better banking record however they aren't able to help rebuild credit. Consider a secured credit card.

 

Despite their limitations second chance checking accounts often outperform alternatives, like pre-paid debit cards or check-cashing services. These accounts can have high transaction fees and balance requirements however, they may not have useful features such as online banking.

 

If you are able to avoid negative balances or fees, many second chance checking accounts let you switch to a regular check in six months to one year.

 

>> Want to explore other options? Take a look at our list of the

 

Second chance to open a checking your account

 

The most effective second chance accounts have:

 

Monthly fees that are low or zero.

 

There is no minimum balance requirement.

 

Services include debit card access, online bill pay as well as unlimited writing rights for checksall for no cost.

 

There are a few limits, for example monthly or daily maximum transaction amounts.

 

 

There aren't all second chance checking accounts offer these options. Some charge monthly fees as high as $20 and don't issue check or debit card to accounts holders. Make sure you know the fees and other requirements before applying.

 

National second chance bank

 

A few banks and financial companies backed by banks offer second chance checking nationwide:

 

(account name: Spending Account, available online)

 

(account Name: GoBank, available online and at Walmart locations).

 

(account name: Essential Checking, available online).

 

(account name: Bank Account, available online)

 

(account ID: Clear Access Banking, that is available in 39 states as well as Washington, D.C.).

 

 

Major banks rarely offer second chance checking, however many community banks and credit unions offer these under various names, such as Opportunity Checking and Fresh Start Checking.

 

If you don't see one in the lists below, see if your community is part of the Bank On program. It's an initiative that several communities have joined which allows local and city government banks work together to serve those who are trying to get back into the banking system. Another option is an prepaid debit card offering strong services and low costs.

 

Compare second chance checking accounts

 

The NerdWallet ratings are made through our team of editors. The scoring formulas are based on multiple data points for every financial product or service.

 

 

 

 

 

GoBank

 

Monthly fee : $8.95 (unless you waive it).

 

Overdraft fees No fee for overdrafts.

 

Special feature: Up to 2 day early direct transfer.

 

 

 

 

The ratings of NerdWallet are formulated by the editorial staff. The scoring formulas take into account multiple data points for each financial product and service.

 

 

at Varo Bank, Member FDIC

 

 

 

 

Varo

 

Monthly cost Monthly fee: None.

 

Overdraft fees The amount is not a problem.

 

Extra bonus : 55,000 free ATMs.

 

 

 

 

The NerdWallet ratings are made through our team of editors. The scoring formulas are based on several data points associated with every financial product or service.

 

 

 

 

 

LendingClub Essential Checking

 

Monthly fee : $9.

 

Overdraft fee $5.

 

Special feature : Possible to Upgrade to Rewards checking within one year.

 

 

 

 

 

 

 

 

 

 

State- and regional-based second chance checking accounts

 

Certain regional banks and credit unions offer second chance accounts. However, clients are typically required to live in specific states or meet other special membership requirements. Here's a list of 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 :

 

 

 

 

 

 

 

 

Want (or require) an account at a state-based financial institution? 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

 

 

There are no accounts at state-owned financial institutions. Find regional and national options.

 

 

 

 

 

District of Columbia

 

 

There are no accounts at any financial institutions based here. Check for regional and national alternatives.

 

 

 

 

 

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. Find regional and national 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 : Membership 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

 

 

None of the accounts are found in state-owned financial institutions. Look for options that are national.

 

 

 

 

 

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

 

 

None of the accounts are found in state-owned 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

 

 

No accounts found at state-based financial institutions. Check for national options.

 

 

 

 

 

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

 

 

There are no accounts at state-owned 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 the financial institution you use for your business off of this list? Please .

 

 

 

 

About the authors: Spencer Tierney is a writer, and NerdWallet's official authority for certificates of deposit. He has had his work featured in USA Today and the Los Angeles Times.

 

 

 

Chanelle Bessette is a personal finance journalist at NerdWallet writing about banking. She specializes in cash management and checking accounts.

 

 

 

 

 

 

 

 

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