If you are in ChexSystems or EWS in Kentucky open a new account at a Kentucky No-ChexSystems bank. According to a 2014 report from the Federal Deposit Insurance Corp., Kentucky ranks as one of the 10 most unbanked and under-banked states in the country. The numbers of unbanked and underbanked individuals in Kentucky rose to 33.2 percent from 31.4 percent in 2011. While many unbanked rely on prepaid cards, traditional banking services offer a greater chance for families to achieve financial stability. You can find a Non-ChexSystems Bank in Kentucky or a Second Chance Bank in Kentucky on the list below. Build wealth and save money by getting back into the banking world.
Online Options for Kentucky No-ChexSystems Banks
BBVA Compass ClearChoice Money Market
ANYONE can open this account! BBVA Compass ClearChoice Money Market Account is a No-ChexSystems bank account. There are great features with the ClearChoice Money Market Account like mobile check deposits, direct deposit, bill payment and ATM banking at BBVA Compass ATMs. The account requires a deposit of $25 to open. A money market account is like your basic savings account – the higher your balances, the greater your interest-earning possibilities. Open today.
Kentucky Second Chance Banks and Kentucky No-ChexSystems Branch Options
(Note: This list is not exhaustive and in no way represents all banks in Kentucky that do not use ChexSystems. You must visit the bank in-person to open an account)
First Southern National Bank
If you are looking for a Non-ChexSystems Bank in Kentucky First Southern National Bank may be the answer. They only require 2 forms of proper identification to open a bank account. First Southern National Bank is located throughout Kentucky including Bowling Green. You must visit a branch to open an account.
First United Bank & Trust Company
Open a “Fresh Start Checking” account with a minimum of $50. There is a $10 new account set-up fee along with a $14 monthly maintenance fee. The account features online banking, online bill pay and mobile banking.** (**Mobile Internet data and text message charges may apply).
City National Bank
City National Bank in Kentucky offers a checking account called “Bounce Bank Checking.” No minimum balance is required but there is a monthly service fee of $6.99 with direct deposit, $8.99 without direct deposit. Customers get the first two non-sufficient funds fees waived but it is strongly suggest you do not bounce checks when re-establishing a banking relationship. You must visit a branch location in-person to open.
Get a second opportunity at a checking account with FNB’s “Second Chance Checking” account. It requires a $100 minimum deposit to open along with a $10 set-up fee. The account features free online bank statements plus images or you can get email statements plus images. There is a $12 monthly service fee.
Fort Knox Federal Credit Union
If you live or work in Boyle, Breckenridge, Grayson, Hart, LaRue, Meade, Nelson, & Taylor counties you may be eligible to join Fort Knox Federal Credit Union. Active duty and retired military, Reserve, Guard or civil service employees and military contractors are also eligible to join. The initial requirement for membership is $15. Fort Knox Federal Credit Union offers a “Second Chance Checking” account but you must visit a branch to open.
Home Federal Bank
Home Federal Bank offers an account called “Square One Checking” that can give you a fresh start. The account features free Home Banker online banking with Bill Pay, free Phone Home telephone banking, E-Statements and Overdraft Privilege. There is a one time $10 set-up fee along with a $12.99 monthly service charge if you have direct deposit. The monthly service charge is $19.99 if you do not have direct deposit.
Kentucky Telco Federal Credit Union
Get a second chance with the “NewStart Checking” account. No minimum balance is required to open the account but there is a $12 per month service fee. The account features free Visa debit card, free online banking, free Bill Pay, mobile banking and e-statements. Customers also get free unlimited access at all Kentucky Telco ATMs plus no surcharges at affiliated ATMs.
Main Source Bank
This account is designed for customers looking to rebuild their financial health. The account features a free debit card after 90 days, free online and mobile banking. There is a $14 Service fee per statement cycle; or a $12 Service Fee per per statement cycle with eStatement OR Direct Deposit; or a $10 Service Fee per statement cycle with eStatement AND Direct Deposit.
Woodforest offers a “Second Chance” account. The minimum opening deposit is $25.00. There is a monthly service charge which breaksdown as follows: $7.95 with direct deposit(3); $9.95 without direct deposit and a $9.00 one-time account set up fee.
Your Community Bank
Your Community Bank in Kentucky offers a “New Opportunity Checking” account for residents in ChexSystems. The accounts lets you rebuild your record and reestablish your financial credibility. No minimum balance requirement after initial deposit! The account features e-Statements, online banking, 24-hour telephone banking, direct deposit and official checks.