Pennsylvania has a high number of unbanked consumers. Approximately 14.3% of Philadelphia residents are unbanked. In Pittsburgh more than 10% of residents have no bank account according to FDIC. The unbanked rely on prepaid cards, check cashing operations and even payday lending to provide financial services. Relying on payday loans and check cashing operations is a costly alternative.
It is important for consumers to have long-term financial stability while building wealth. Traditional banking services offer a greater chance for families to achieve their financial goals. If you are a Pennsylvania resident you may be able to open a non-chexsystems bank account or second chance checking account in your area.
Get back into banking. A negative ChexSystems record can remain 5 years unless you successfully dispute ChexSystems to get it deleted. For consumers with an EWS record, it can last for 7 years unless you’re able to successfully dispute EWS.
Small Banks and Credit Unions in Pennsylvania may have second chance checking accounts or may be a Pennsylvania Non-Chexsystems Bank. More choices also exist at larger nationwide No-ChexSystems Banks and 2nd Chance Checking Accounts that will give you an opportunity to get back into banking.
Pennsylvania Second Chance Checking
BBVA Compass offers an online checking account with No ChexSystems. It’s a fee-free account that makes it easy to manage your money on the go with mobile banking. You can access your account for free through a computer, tablet or smartphone. Another great perk with this second chance bank account is that you not only get to access BBVA Compass ATMs for free, you also get free access to the AllPoint ATM network, which includes more than 55,000 ATMs nationwide.
What else can you expect from this checking account?
- Apply with only $25 opening deposit
- No monthly Service Charge
- Complimentary Online Banking and Mobile Banking, Bill Pay and Online Statements
- No ATM withdrawal fees at any BBVA Compass or Allpoint® ATM
- Compass Bank, Member FDIC
BBVA Compass offers 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.
Chime Bank does not use ChexSystems. It’s primarily a spending account that comes with a Visa debit card. Works best with direct deposit because your direct deposit is made available 2 days earlier than your regular pay date. Other features include mobile check deposit and if you need a check written, Chime Bank will create and mail a paper check for you at no charge. $0 dollars is required to open the account, plus there are no monthly fees and no overdraft fees.
You can earn instant cash back on purchases from specific retailers, or in general categories like groceries, entertainment, utilities. Enroll in Chime’s automatic savings program and each week you’ll get a bonus reward equal to 10% of the total automatic savings deposits you made that week, up to $500 a year. That’s free money!
Pennsylvania Non-ChexSystems Banks and Fresh Start Checking
United Bank offers several checking accounts and they do have a free account for everyone. The “United FREE Checking offers No minimum balance; No monthly service charge; No per check charge; Unlimited check writing; United VISA® Check Card*; FREE Online Banking; FREE Bill Pay and eStatements. They do not use ChexSystems. The minimum opening deposit is $50.
Residents of Pittsburgh looking for a no-chexsystems bank may be qualified to open a Fresh Start checking account. The account features a Visa debit card, free online banking and bill pay and unlimited check writing. Direct deposit is required along with a $9 monthly service fee. The required opening deposit is $25. There are restrictions with this account but after 12 months of active use with no NSF’s members are eligible to upgrade to a regular checking account.
Customers seeking to re-establish themselves in the banking system may qualify for the “Foundation Checking” account. There is a monthly service fee of $7. An additional fee of $2 will be charge if you prefer paper statements. There are no options to avoid the monthly service charge. Once your account has been opened for 6 months or more you may be eligible to upgrade to a different checking account.
The 2nd Chance Checking account is for consumers with previous unsatisfactory checking account performance. The monthly service fee is $5 and is debited from your account monthly. A $35.00 deposit is required to be secured in the regular share savings account as a good faith gesture of intent to maintain a satisfactory checking account. The member will NOT be eligible for a debit card during the period in which they are enrolled in the 2nd Chance Checking Account program. At the conclusion of the 12 month period you will be eligible for a standard checking account if you have maintained a satisfactory checking account record.
Sun Federal’s “Fresh Start Checking” account can help you get back on track, build a history of responsible account management, and improve your financial standing. The Fresh Start checking account features all the benefits of the regular checking accounts for a small monthly fee of $10. You must complete the credit union’s CheckRight financial education course to help you manage your money. After 12 months in good standing you can apply for a regular, fee-free checking account.
If you have been denied a checking account they offer a “Second Chance Checking” account. Even if you’ve been reported to ChexSystems in Pennsylvania you can open the Second Chance Checking account to make deposits, conveniently pay bills online, access ATM’s worldwide, or simply shop and pay with your Visa check card.
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.
You may want to review a List of Second Chance Checking Accounts and Non-ChexSystems Banks in other States.