Second Chance Checking Accounts

Consumers without bank accounts may find it more difficult to pay bills, develop a credit rating and build assets. Second chance checking gives consumers an opportunity to re-enter the consumer banking industry.

Second chance checking also offers an option to the often costly alternative financial service providers such as check cashing companies.

Many consumers without bank accounts rely upon money orders to pay bills which mean you not only pay a fee to cash your check but also pay a fee for money orders. Fees can add up quickly.

Banks that offer second chance checking will open a checking account even if you have been in Chexsystems and in some instances currently have a Chexsystems record.

Second Chance Checking

US Bank
Try the in-store branches and take proper identification along with a utility bill showing your address. Consumers using in-store branches have experienced success in opening checking accounts while in Chexsystems.

Woodforest Bank
This bank is not available in all states; however, they do have an account called “Second Chance Checking. It comes with unlimited check writing and a debit mastercard. You must go inside a branch in order to open this second chance checking account.

(MORE: No ChexSystems Checking Accounts)

BBVA Compass
Offers a second chance checking account where you get a visa debit card, unlimited check writing and no minimum balance required. The monthly service charge is $13.95 and the minimum opening deposit is $25.

Wells Fargo – Opportunity Checking
This is a traditional checking account with a visa debit card and checks; however, it comes with some restrictions. This account will definitely help you stay within your budget. Deposits cannot be made through the ATM and you may not be able to get cash back immediately upon depositing a check. Once you remain in good standing for some time, Wells Fargo may offer you an upgrade to a regular checking account, with less restrictions.

Chase
Chase offers an account called Access Checking. It comes with several limitations but you may be able to convert to a regular checking account after 6 months in good standing. You will receive a debit card with this account. You must go into the branch to open the account and they do pull your credit report for verification.

(MORE: Earn a $50 bonus when you open an Electric Orange℠ checking account)

PeoplesCashSolutions
Peoples Cash Solutions offers a Second Chance Checking Account for consumers who have been reported to ChexSystems or TeleCheck. There must be no fraud activity reported in ChexSystems. Bad credit and even bankruptcy are okay.