7 Banks With No Credit Check to Open an Account [2025]

Applying for a new bank account can be daunting when your credit is less than stellar. But today, there are many options for people in this situation. Most banks don't perform a hard credit check when you apply for an account, but some accounts are better than others if you have bad credit or an imperfect banking history.

We researched the most popular institutions to find the best no-credit-check bank accounts. Online-only banks and fintechs like SoFi® and Discover stood out in our research for offering excellent perks without hard credit checks or deposit requirements,¹ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> ² <p>See <a href="https://www.discover.com/content/dam/dfs/online-banking/documents/NationalDepositAccountAgreement.pdf">Deposit Account Agreement</a> for details on transaction eligibility, limitations, and terms.</p> , and Chime® Checking³ <p>Chime is a financial technology company, not a bank. Banking services&nbsp;and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A. The secured Chime Credit Builder Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A.</p> is a good choice if your overall goal is to improve your credit. For in-person access, we recommend Bank of America or Truist, and it doesn't get much better than Varo for second-chance banking.

Here's which checking accounts we recommend when banking with bad credit and the best ways to use them.

Featured checking account with no credit impact

Rare Checking Account That Offers Cash Back

4.5

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Online Checking Account

Discover® Cashback Debit Benefits

• Earn 1% cash back on up to $3,000 in debit card purchases each month⁴ <p>See website for details.</p>
• No minimum deposit, no minimum balance, and no account fees
• Easily switch direct deposit via the Discover mobile app or online for Early Pay (get your paycheck up to 2 days early!)
• 60K+ fee-free ATMs and make cash deposits at Walmart stores nationwide

4.5

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Open Account

Compare the best no-credit-check bank accounts

As you'll see, there's no shortage of checking accounts with no hard credit checks to open and no deposit requirements. There are also a few bank accounts we recommend that do have deposit requirements or monthly fees but are still worth considering if your banking history makes you want to avoid hard credit checks. Here are some of the easiest bank accounts you can open online with bad credit.

Bank account	Best for	Minimum opening deposit	Monthly fees
SoFi Checking and Savings	High savings APY	None	None1 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
Discover Cashback Debit	Cash back on purchases	None	None
Bank of America Advantage SafeBalance Banking®	In-person banking	$1005 <p>Minimum opening deposit: $25 for Bank of America Advantage SafeBalance Banking®, $100 for Bank of America Advantage Plus Banking ® and Bank of America Advantage Relationship Banking®.&nbsp;</p>	$0 or $12
Chime® Checking	Improving credit	None	None6 <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p>
Truist One Checking	No overdraft fees	$50	$12 (can be waived)7 <p>The Monthly Maintenance Fee (MMF) can be waived for the Truist One Checking account for each statement cycle by:</p> <p><b>Option 1: Making $500 or more in total qualifying Direct Deposits per statement cycle.</b> A qualifying direct deposit is an electronic credit via ACH deposited to your account during the current statement cycle. Pre-authorized transfers made from one account to another or deposits made via a branch, ATM, online transfer, mobile device, debit card/prepaid card number or the mail are not eligible to meet this requirement.</p> <p><b>Option 2: Maintaining a total combined ledger balance of $500 or more in any Truist related accounts across personal deposits and all investments as reflected on the business day before your statement cycle end date.&nbsp;</b>A Ledger Balance is actual balance in your account on a specific day and does not reflect any holds or pending transactions. Your Total Combined Balance is the sum of all balances within the Truist personal deposit accounts (checking, savings, money market or CDs), IRAs or brokerage accounts introduced through Truist Investment Services, Inc. Related Accounts automatically includes all applicable accounts associated with primary and secondary account holders.</p> <p><b>Option 3: Having a personal Truist credit card, mortgage or consumer loan, excluding LightStream®. </b></p> <p><b>Option 4: Having a linked Small Business Checking Account.</b> Eligible Small Business account types include: Truist Dynamic Checking, Business Interest Checking, Simple Business Checking and Business Value 200.</p> <p><b>Option 5: Primary client is a student.</b>&nbsp;The waiver for a student requires they are listed as the primary account owner and they provide their anticipated graduation date. The waiver expires on the provided graduation date. On this date, the account is subject to the Monthly Maintenance Fee unless at least one waiver criterion is satisfied.</p> <p><b>Option 6: Primary client is under the age of 25 or age 62 and older.</b></p> <p>Truist Bank, Member FDIC. ©2024, Truist Financial Corporation. Truist, Truist Purple and the Truist Logo are service marks of Truist Financial Corporation.</p>
Current8 <p><b>Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC.</b>.</p>	Teens	None	No membership fees9 <p>Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.</p>
Varo Bank Account	Second-chance banking	None	None

SoFi® Checking and Savings

2025 award winner Best Checking and Savings Combo

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

SoFi Checking and Savings

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Earn up to 3.80% APY¹⁰ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) <b>OR</b> $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at <a href="http://www.sofi.com/banking#1">sofi.com/banking#1</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p> <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.¹¹ <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> FDIC Insured.¹² <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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SoFi offers strong APYs on its iconic no-hard-credit-check bank account, which combines checking and savings under one metaphorical roof (SoFi is online-only). SoFi Checking and Savings earns 0.50% (as of 01/24/25) APY¹¹ <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> on checking with direct deposit and up to 3.80% APY on your savings with direct deposit. We chose it for this list because it's one of the most perks-packed bank accounts available for people with any banking history.

You won't pay any maintenance, ATM,¹³ <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.</p> or low-balance fees for this account.¹ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> This is one account you open, not two separate ones, so it's a single, quick application with no hard credit check. The bank account also offers the added perks of early access to your paychecks¹⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p> , above-average overdraft coverage,¹⁵ <p>Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A.&nbsp; The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking &gt; Savings &gt; Current APY or (ii) Banking &gt; Checking &gt; Current APY.&nbsp; Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.<br></p> , and sign-up bonuses.¹⁰ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) <b>OR</b> $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at <a href="http://www.sofi.com/banking#1">sofi.com/banking#1</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p> <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p>

Visit SoFi | Read our SoFi® review

Discover Cashback Debit

2025 award winner Best Online Checking Account

4.5

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Discover® Cashback Debit

Discover® Cashback Checking

Earn 1% cash back on up to $3,000 in debit card purchases each month.⁴ <p>See website for details.</p> No minimum deposit or balance. FDIC Insured.

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Discover is one of our top picks for this list of banks that don't check your credit because it's really rare to find a debit card that offers cash back. With Discover's Cashback Debit Account, you can earn 1% cash back on debit card purchases up to $3,000 each month.

I also like that this account has no monthly fees, no fees for insufficient funds or overdrafts, and no minimum balance requirements. With direct deposit, you can even receive your paycheck up to two days early. You can access your money for no cost at over 60,000 fee-free ATMs, which is a very large ATM network.

It is an online-only account, and one of the downsides to that is figuring out how to deposit cash. Discover makes adding cash to your account relatively accessible, as you can make cash deposits into your Discover account at any Walmart location. The minimum cash deposit amount is $20, and within 24 hours, you can deposit up to $1,000 (except for Arizona and New Mexico, where the daily limit is $999.99).

Visit Discover | Read our Discover Checking review.

Bank of America Advantage SafeBalance Banking®

4.2

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Bank of America Advantage Banking

Bank of America Advantage Banking

$300 bonus offer. Bank of America, N.A. Member FDIC. Click ‘Learn More' for more details.

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If you like being able to easily deposit cash or talk to a live human being, Bank of America is a good choice. It has thousands of ATMs and financial centers, so it's convenient if you're often on the move.

Bank of America offers a few checking accounts, but the one I like the best for second-chance banking is the Bank of America Advantage SafeBalance Banking®. It has a relatively modest monthly maintenance fee of $4.95, with options for a $0 monthly fee instead if you're under 25, keep a minimum daily balance of $500, or are a member of Bank of America Preferred Rewards®. ¹⁶ <p>Bank of America Advantage SafeBalance Banking® Monthly Maintenance Fee: $4.95 or $0 —&nbsp;No monthly maintenance fee when you meet one of the following: • an owner of this account is under the age of 25 or • maintain a minimum daily balance of $500 in your account or • are a member of Bank of America Preferred Rewards®;&nbsp;Bank of America Advantage Plus Banking®&nbsp;Monthly Maintenance Fee: $12 or $0 –&nbsp;No monthly maintenance fee when you meet one of the following: • have at least one qualifying direct deposit of $250 or more or •maintain a minimum daily balance of $1,500 in your account or • are a member of Bank of America Preferred Rewards®;&nbsp;Bank of America Advantage Relationship Banking®&nbsp;Monthly Maintenance Fee: $25 or $0 – No monthly maintenance fee when you meet one of the following: • maintain a minimum daily balance of $20,000 in your account or • are a member of Bank of America Preferred Rewards®.</p>

But the best thing about it is that it doesn't charge overdraft item fees. And those fees can really add up depending on the bank.

Bank of America accounts are insured by the FDIC up to $250,000 per depositor.

Visit Bank of America | Read our Bank of America Advantage Banking review

Chime® Checking

2025 award winner Best for Bad or No Credit

4.6

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

Chime®

Chime® Checking¹⁸ <p class="">Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC.&nbsp;<br></p> - No Monthly Fees⁶ <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p> + Get paid up to 2 days early with direct deposit¹⁹ <p>SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won't cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. <a href="https://www.chime.com/policies/">SpotMe on Credit Builder Terms and Conditions</a>.</p>

Checking Account. No minimum balance. FDIC Insured through The Bank Corp Bank, N.A. or Stride Bank, N.A.

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There's a lot we like about Chime for people with bad credit. It has no monthly service fees or overdraft fees, and its SpotMe feature offers a fee-free overdraft of up to $200 for eligible members. To be eligible, you have to receive a single deposit of $200 or more in qualifying direct deposits to a Chime checking account. For a lot of folks, having their paycheck directly deposited will take care of that requirement.

I especially like the Secured Chime Credit Builder Visa® Credit Card, and that definitely would have come in handy for me during the years I spent rebuilding my credit.²⁰ <p>The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your card for its issuing bank.&nbsp; To apply for Credit Builder, you must have an active Chime® Checking Account.</p>  Additionally, their policy of not using ChexSystems for account openings provides a fresh start for those with past banking issues.

I don't love that Chime's savings account only has a 2.00% (as of Apr. 28, 2025) APY on savings account balances.²¹ <p class="">The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.&nbsp;</p> Note that you can't open a savings account without opening a Chime checking account. There are higher savings APYs at online banks like SoFi, but if you want to keep all your funds in one place, it's not the worst savings APY either.

Chime, like many financial institutions, offers FDIC insurance up to $250,000 per depositor through its banking partners, The Bancorp Bank, N.A. and Stride Bank, N.A..

Visit Chime | Read our Chime review.

Truist One Checking

We chose Truist for this list not only because the bank offers access to in-person locations, unlike the online banks we've covered, but also because Truist One Checking doesn't charge any overdraft fees (which is unusual in a brick-and-mortar bank, and especially nice if you're in a tight spot with money). And its $100 Negative Balance Buffer can give your account an extra cushion of up to $100 for unexpected charges.

You do have to get a direct deposit from an employer or benefits program, and it has to be at least $100 per month to qualify for the buffer. Those requirements aren't too bad, and they're in line with what other banks require for similar benefits.

I don't love the $12 monthly maintenance fee, but there are six ways to waive it:

• Maintain a combined monthly average balance of $500 or more across eligible Truist accounts.
• Make $500 or more in total qualifying direct deposits per statement cycle.
• Have a Truist credit card, mortgage, or loan (not Lightstream).
• Have a linked Small Business Checking account.
• Be younger than age 25.
• Be age 62 or older.

Both the fee and the options to waive the fee are in line with other brick-and-mortar banks.

Truist is FDIC insured.

Visit Truist | Read our Truist review.

Current

Current

Build Credit Not Debt

Build credit with everyday purchases.²⁴ <p><b>Current is a financial technology company, not an FDIC-insured bank. FDIC insurance up to $250,000 only covers the failure of an FDIC-insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC.</b> The Current Visa®️ Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa®️ secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa®️ secured charge card. Independent approval required.</p> No credit checks or history required.

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For teens looking to start building credit while banking, Current is a strong choice.²⁵ <p>You may earn Points in connection with your everyday spending and by completing other actions that Current designates as subject to the Current Points Program. The amount of Points granted for different actions as well as the purchase requirements necessary to earn Points will vary, and is subject to Current’s sole discretion. After qualifying, please allow 3-5 business days for points to post to your Current account. The Current Points program is not available to Teen Account holders. See Current Points Terms and Conditions.</p> The fintech offers one bank account, like SoFi, but a host of benefits for accountholders, especially those looking to avoid hard credit checks. The reason we recommend a Current account for teens is because anyone can build credit with the account's linked secured credit card. Using the Current Build Visa^® Credit Card, you could make regular monthly payments that get reported to the credit bureaus.²⁶ <p><b>Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC</b>. The Current Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.</p> Even ATM swipes count in some instances. Parents do need to open accounts for teens, though.

As you use your Current Visa secured credit card, you can earn 1X to 7X points, depending on the merchant (and as long as you opt in within the mobile app). This bank account would be ideal for anyone who wants to build credit without the credit checks required for many traditional credit cards.

You'll qualify for $250,000 in FDIC insurance on your bank accounts through Choice Financial Group and Cross River Bank. FDIC insurance doesn't extend to Current's crypto offerings.

You'll pay no monthly membership or annual account fees with Current, and you could earn up to a 4.00% (as of Aug. 1, 2023) bonus on your savings, but this requires a monthly $200 direct deposit. This is lower than Varo's direct deposit requirement to earn the highest APY, so it's definitely competitive.

Visit Current | Read our Current review

Varo Bank Account

We recommend all of the banks on this list for second-chance banking, but Varo is one of the best options we've found for this because of the many ways it encourages you to improve your finances — and offers to help you when you're in a bind. Between its automated savings features, cash advances, and credit-builder card, you can work on whatever you need to tackle to get your credit and overall financial health in a better place.

Like other companies on this list, Varo has no fees on either of its savings or checking accounts. And while its 5.00% (as of 04/25/25) APY promise on its savings account is inviting at first, do be aware that only the first $5,000 in deposits qualify. Still, you'll earn a decent APY of 2.50% (as of 12/11/24) on deposits after that threshold. And you need to receive qualifying direct deposits of $1,000 or more each month to get the highest APY. Those are pretty steep requirements, especially compared to a bank like SoFi, which only requires direct deposit, but no specific amount.

More importantly, Varo offers a cash advance of up to $500, which is twice as much as competitor Chime. You start with anywhere from $20 to $250, based on your account history and other factors, then you could potentially work your way up to $500. You do need to have at least $800 in qualifying direct deposits during the current or previous month to qualify.

As for FDIC insurance, Varo Bank, National Association (Cert. #59190) provides each depositor with $250,000 in coverage.

Visit Varo  | Read our Varo review

How to choose a no-credit-check bank

There are dozens and dozens of deposit account options, even for those looking to qualify without a credit check or need a second-chance bank. How do you find the one that fits all your needs? Consider each of these features to narrow down the list.

Account requirements

While a bank may not require a credit check, make sure there are no other requirements, such as a minimum opening deposit or a minimum balance required to earn interest.

Fee structure

First things first — do you want to pay any fees? If not, eliminate banks that charge fees. Additionally, some banks only charge fees if you can't meet requirements like setting up direct deposit. Many banks charge no fees to maintain your account and still provide worthwhile features.

Mobile and online setup

No-credit-check accounts typically are online bank accounts, so you want to ensure the bank of your choice includes easy-to-use mobile banking, including mobile check deposit and an online portal. You may also want to consider features like bill pay and transfers to family and friends through services like Zelle.

Additional banking services

Many banks offer more than just checking and savings accounts, which you may (or may not) be interested in. Do you need investing help? Do you want to open a CD? Are you considering a personal loan? If you want to do your banking all in one place, check on the additional services the bank may offer.

Branch options

Do you want an in-person option? Or is an entirely online-based bank what you're looking for? Thankfully, there's a mix of both options out there.

ATM network

If you anticipate needing to withdraw cash, check to see if there are fee-free ATMs near you so you can make ATM withdrawals. Some banks and credit unions also offer ATM fee reimbursements if you use an out-of-network machine.

How to improve bad credit

Improving your credit score is a journey that requires patience, diligence, and a strategic approach. Whether you're looking to qualify for better loan rates, secure a rental agreement, or simply improve your financial well-being, taking steps to boost your creditworthiness can open doors to various opportunities. Here are a few ways that you can improve your credit score over time.

Pay your bills on time

Making timely payments on all bills, including credit card payments, utility bills, and loans, is crucial for improving your credit score. Payment history is a significant factor in determining your creditworthiness. 

Reduce your credit card balances where possible

Your credit utilization ratio, which is the amount of potential credit you have versus how much of that credit line you are actually using, also affects your score. Try to keep your credit card balances low relative to your credit limit, ideally no more than 30% of your available credit.

Avoid opening too many accounts

Opening multiple new credit accounts within a short period can lower your average account age and potentially cause a dip in your credit score. Be cautious about applying for new credit unless necessary.

Don't cancel old accounts

Older accounts can help improve credit scores since they establish when you first began building your credit history. Closing old credit cards can also cause your credit utilization rate to go up since you have less available credit in your name. Even if you never use a line of credit, keeping it open can help mature your credit age over time.

Monitor your credit report

Regularly checking your credit report can help you identify any errors or fraudulent activity that may be affecting your credit score. You can request a free copy of your credit report from each of the three major credit bureaus once a year. You could also sign up for a credit monitoring tool such as Credit Karma or Credit Sesame, where you'll get free access to your credit score, reports, and monitoring. 

FAQs

Bottom line

When you have bad credit, you want a bank that not only won't check your credit when you open an account but that also will help you make the most of your finances. No-credit-check bank accounts from banks and companies like SoFi, Discover, Chime, Bank of America, and others are a few we recommend for this. All of the accounts we've included here can be opened online.

To choose the best bank and checking account for bad credit, consider factors such as account requirements and fees, other banking services, in-person and online access, and more.

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SoFi Checking and Savings Benefits

• Earn up to 3.80% APY¹⁰ <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) <b>OR</b> $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. See full bonus and annual percentage yield (APY) terms at <a href="http://www.sofi.com/banking#1">sofi.com/banking#1</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p> <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits¹¹ <p>SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Jan. 24, 2025. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>. See the SoFi Plus Terms and Conditions at <a href="https://www.sofi.com/terms-of-use/#plus">https://www.sofi.com/terms-of-use/#plus</a>.</p>
• No account, overdraft, or monthly fees¹ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early¹⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
• Access additional FDIC insurance up to $3 million¹² <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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