Second Chance Banks and No Chexsystems Banks

Living without a bank account is not only inconvenient but also costly. Check cashing fees will add up over time and not having a place to grow your money prohibits wealth building.

Second chance banks will open a checking account even if you have been in Chexsystems and in some instances currently have a Chexsystems record.

No Chexsystems banks do not use Chexsystems at all to open bank accounts; however they may run a credit report in order to verify your identity.

The following banks do not use Chexsystems to open a bank account; however they may pull a credit report in order to verify your identity:

No Chexsystems Banks

ING DIRECT SAVINGS
The High Yield Savings with the Orange Savings Account℠ from ING DIRECT has no hidden fees or service charges and no minimum deposit. There is no ChexSystems with the Orange Savings Account; however, they verify your identity by making a small deposit in an existing checking account at another banking institution. You can open the savings account instantly online.

Electric Orange℠ Checking Account
The ING DIRECT Electric Orange℠ Checking Account an above average interest earning checking account in addition to the following: (1) No ChexSystems; (2) No Overdraft fees; (3) No ATM Surcharge; (4) No Monthly Fee; and (5) Earn a $50 bonus when you open an Electric Orange℠ checking account. The only issue you may encounter is that you must have an existing checking account in order to fund and link to the Electric Orange℠ checking account.

The ING High Yield Savings Account and Electric Orange℠ Checking Account can be good back-up accounts if you are currently in ChexSystems but have an existing checking account because banks will sometimes do sweeps on existing customers and close accounts without warning. Never have all your money in one bank.

UPside Prepaid Visa
UPside Prepaid Visa works like a checking account allowing you to write personal checks for any purpose. In order to write a check all you have to do is log into your account and select the “Write a Check” button and fill out the payee name, address and amount. The check will be debited from your prepaid account and sent automatically on your behalf. You even have the ability to stop payment on a check, just like a traditional account. It is the only prepaid account with a checkbook!

The Upside Prepaid account is is one of the lowest fee prepaid visa debit cards in the marketplace with no activation fee,  no fee on purchases, free direct deposit, and free cash back at Point of Sale. UPside is the only prepaid card with a true rewards program that gives you cash back! Earn 500 points when activating your card online and 1000 points if you sign-up for direct deposit. Open your Upside account today, everyone is approved.

USAA
USAA serves the military but you do not have to be in the military to open an account. You will have to become a member prior to opening an account. Once you establish you are not in the military, a series of questions will be asked that will grant you membership.

You will be given a member number and with that number you can then open a checking account. The process can be completed online or over the telephone in about 15 minutes. The minimum opening balance is $25 for a checking account and $50 for a savings account.

(MORE: Banks that offer Second Chance Checking Accounts)

IncredibleBank
This bank is an internet only bank and a division of River Valley Bank. IncredibleBank offers a a high yield checking account and a high yield CD that can be opened online. They are a no Chexsystems bank but they will run a credit report and require a minimum credit score of 640.

TCFBank
This bank is not available in all states. TCFBank has 436 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota. This bank offers several checking accounts to choose from and business checking. They will open an account for consumers in Chexsystems but you must not owe any money to TCFBank.

Fund an Account or Verify Small Deposits
If you are opening an account online but do not have a way to fund it instantly with another account, debit or credit card, most online accounts can be funded with a prepaid debit card.

Some online accounts even verify your identity by making a small deposit into a checking, savings, credit or debit card account and then have you verify the deposit amount. A prepaid debit card such as the Upside Visa Prepaid card will suffice if you need to fund an online account immediately or verify your identity by allowing the online bank to make a small deposit.