In 2015 a nationwide survey, the FDIC found that 7 percent of U.S. households were “unbanked.” Unbanked means no one in the household has a checking or savings account. Consumers looking to get back into banking and rehabilitate their creditworthiness can benefit from a Tennessee Non ChexSystems Bank or a Tennessee Second Chance Checking Account.
Traditional banking can save money for consumers in Tennessee without a bank account. It has been estimated that using alternative financial services such as check cashing stores, prepaid debit cards, payday, title or pawnshop loans can add up to $1,200 a year in fees.
Operating financial transactions outside the mainstream banking system costs money in extra fees and interest and makes it tougher to build credit and financial stability. There are several Tennessee Second Chance Checking Accounts. 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 Tennessee may have second chance checking accounts or may be a Tennesee 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.
Tennessee Second Chance Checking
BBVA offers an online checking account that utilizes EWS to verify new customers. It’s a no monthly Service Charge account that makes it easy to manage your money on the go with mobile banking. Customers enjoy free checking, unlimited check writing, cashback in categories like gas and groceries throughout the year. Free ATMs at BBVA and at 64,000 AllPoint ATMs in the network. Bill payment and mobile check deposit also included, you can even deposit cash at some AllPoint ATM locations.
What else can you expect from this checking account?
- Apply with only $25 opening deposit
- No monthly Service Charge
- Earn cash back on everyday debit and credit card purchases
- Complimentary Online Banking and Mobile Banking, Bill Pay and Online Statements
- No ATM withdrawal fees at any BBVA or Allpoint® ATM. Deposit cash at some AllPoint ATMs.
- BBVA USA, Member FDIC
Chime Bank is primarily a spending account to conduct your daily expenses that anyone can open. Get paid up to 2 days early with early direct deposit. Other features include no overdraft fees and no monthly service fees. If you need a check written, Chime Bank will create and mail a paper check for you at no charge. No opening deposit required. If you open a savings account too, you can save money when you make a purchase or pay a bill with your Chime Visa® Debit Card. Chime will round up transactions to the nearest dollar and transfer it to your savings account.
Tennessee Non-ChexSystems Banks and Fresh Start Checking
Appalachian Community Federal offers a Fresh Start Checking. There is a minimum opening deposit of $20 and a monthly service fee of $10.
Bancorp offers a Second Chance Checking Account that can help get you back on the right track. The minimum opening deposit is $50 and the monthly service fee is $10.00.
Several checking account products are available. Community National Bank only uses a credit report to open accounts.
Several checking account options designed to fit your specific needs. A minimum credit score of 600 is required.
Several checking accounts are available with a credit score of 600 or higher. Credit scores below 600 may be offered the Credit Builder Account if you have direct deposit. If qualified it comes with a debit card, free online banking with bill pay and semi-annual credit counseling. There is no minimum opening deposit required.
Several checking account products are available. First South Credit Union only uses a credit report to open accounts.
Fort Sill National bank does not use ChexSystems but a credit report will be pulled. They have several checking account packages to choose from but the Basic Checking includes a $5.00 Minimum deposit required to open account, has no monthly fees, unlimited check writing and a Visa CheckCard.
Greater Eastern Credit Union has a Fresh Start Checking for customers looking for second chance checking account in Tennessee. The monthly service charge is $10.00, with limited check writing, online banking, Visa check card and mobile banking.
Several checking account products are available with only proper identification required to open an account.
They do use chexsystems but you can still get an account once you become a member. They do offer an account called Easy Checking for those reported to chexsystems and those with a credit score of less than 600. $9.95 a month if the balance of 200.00 is not maintained. FREE if balance of 200.00 is maintained
Residents looking for a Tennessee second chance checking account, Home Federal Bank offers a second chance checking account called Square One Checking with two options available. One option with direct deposit is $12.99 and the other option is $19.99 without direct deposit. Both Square One Checking accounts charge a $10 set up fee and require a $50 minimum opening deposit.
Another Tennessee second chance checking account is offered at Republic Bank. It’s called the Checking Builder Account and has no minimum balance, unlimited check writing free internet banking and debit card.
You must apply online for one of Renasant Bank’s checking account offers. Customers have reported being approved even with a ChexSystems, Telecheck or EWS record as long as there is no money owed to Renasant Bank. Checking accounts are available for people living in AL, GA, MS and TN.
A Tennessee second chance checking account called Renew Checking is available. The second chance checking account is designed for those members who have struggled with a checking account in the past to get back on their feet. It requires a $50 minimum balance to open the account and a $7 monthly maintenance fee.
Get a Tennessee second chance checking account at Selecct Seven Credit Union. The monthly service fee is $10 and after 12 months of good history NO monthly service fee is required. Customers get a Visa check card and checks. There is a $50 minimum deposit required to open the account.
Several checking account products are available. TVA Credit Union only uses a credit report to open accounts.
Several checking account products are available. United Southeast Federal Credit Union only uses Telecheck to open accounts.
Another Tennessee second chance account is the Right Start Checking account at Western Federal Credit Union. The Right Start Checking is for first-timers or account holders looking to rebuild a positive checking account history.
Open with a $25 deposit and no minimum balance requirement, enjoy free checking and overdraft protection up to $250.
Non-ChexSystems Banks by State
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia