Banking Checking Accounts

Best Second Chance Bank Accounts [2026]: Great Options With Easy Requirements

Since second-chance bank accounts don't require spotless ChexSystems reports or credit checks, they're typically easier to qualify for than traditional bank accounts.

By Ashley Donohoe, MBA, CFLP®, CFEI®, FPWMP® , Edited by Melinda Sineriz, ABFP®

Updated April 3, 2026

It can be difficult to qualify for a traditional bank account if you've had issues with repeated overdrafts on your checking account or involuntary closures that show up when you submit your application.

While they can be harder to find, second-chance bank accounts through online and traditional banks are a great alternative if you have a less-than-stellar banking history. To help you find the right fit, we've researched several options that offer solid features without large monthly fees or deposit requirements.

Learn more about the best second-chance bank accounts, which are primarily checking accounts, and what we like about each financial institution.

Limited-Time Offer

AWARD WINNER Best Online Checking

SoFi Checking and Savings

5.0

Learn More on SoFi's secure website, Member FDIC

Bonus Offer

Up to $400

Minimum Opening Balance

Monthly Fee

Why We Like It

Earn a $50 or $400 bonus with eligible direct deposit¹ 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 Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/" >sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. 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>. and up to 4.00% APY² Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC. on your money
Limited-Time Offer: +0.70% Boost on Savings APY to up to 4.00% for up to 6 months on new accounts. Terms apply.² Earn up to 4.00% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.30% APY as of 3/31/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.
No account, overdraft, or monthly fees³ 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 Bank Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>.
Get your paycheck up to two days early with direct deposit⁴ 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.
Access additional FDIC insurance up to $3 million⁵ 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. 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 <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>.

Learn More on SoFi's secure website, Member FDIC

What is a second-chance bank account?

To understand what a second-chance bank account is, it helps to first understand how most bank accounts review applications. Generally, when you apply for a new bank account, such as a checking account, the institution or company you're applying with will review your ChexSystems history.

ChexSystems is a reporting agency that collects data about consumers' banking histories for the purposes of assessing risk. Your ChexSystems report specifically includes negative items in your history, like repeated overdrafts or negative balances, times your account was closed by a bank, and denied account applications, along with other, more neutral information.

Second-chance bank accounts often have less strict requirements to open than other bank accounts, and they're usually more forgiving when checking ChexSystems reports (if they use these at all), account issues that show up in your banking history, and the like. In other words, they're specifically designed for people who can't qualify for a regular checking account.

Compare the best second-chance bank accounts

	Best for	Monthly maintenance fee	Minimum opening deposit
SoFi Checking and Savings	Combined high-yield checking and savings	$0³ <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 Bank Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>.</p>	$0
Chime® Checking⁶ <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. <br></p>	Automatic savings⁷ <p>You can automatically transfer part of your direct deposits of $1 or more from your Checking Account into your selected Chime account(s).</p>	$0⁸ <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>	$0
Varo Bank Account	Credit rebuilding	$0	$0
Go2bank Account	Overdraft protection	$5 without direct deposit	$0
Wells Fargo Clear Access Checking	Branch access	$5 (multiple waiver options)	$25
Capital One 360 Checking	Traditional checking	$0	$0

SoFi Checking and Savings

Best for high-yield checking and savings

2026 AWARD WINNER Best Online Checking

5.0

SoFi Checking and Savings

Earn Up to $400 When You Set Up Direct Deposit

Limited-Time Offer: Earn a $50 or $400 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% APY¹with +0.70% APY Boost) for up to 6 months on new accounts. Terms Apply.² FDIC Insured.⁵

Learn More

Account features

Minimum deposit: $0
Monthly fee: $0
ATM access: 55,000+ fee-free Allpoint ATMs⁹ 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 may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
FDIC insured?: Yes, SoFi is a Member FDIC.⁵ 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. 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 <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>.

With SoFi®, you can get a combined checking and savings account that makes it easy to manage your money and earn a good return. With eligible direct deposit, you can earn up to 3.30% APY on your savings balance and 0.50% APY on your checking balance.¹⁰ Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them. Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.See additional details at https://www.sofi.com/legal/banking-rate-sheet. ¹¹ Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at <a href="https://www.sofi.com/legal/banking-rate-sheet">https://www.sofi.com/legal/banking-rate-sheet</a> That's considerably higher than the national averages of 0.39% (as of 2/17/26) and 0.07% (as of 2/17/26), respectively.

SoFi® Checking and Savings is a good option for second-chance banking because it doesn't charge a monthly maintenance fee or consider your ChexSystems report when you open an account. Plus, it offers money-stretching and saving features like early direct deposit⁴ 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. , budgeting tools, and savings Vaults.

However, there's no branch access, and you'll pay up to a $4.95 fee when you deposit cash at a participating retailer, such as CVS, Walmart, or Dollar Tree.

Who this account is right for: SoFi Checking and Savings is great if you want a combined online checking and savings account and plan to use direct deposit.

SoFi is a Member, FDIC.⁵ 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. 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 <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>.

Pros

No monthly fees³ 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 Bank Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a>.
No minimum deposit or balance requirements
Very competitive checking and savings APYs
Money management and savings tools

Cons

Requires direct deposit or deposits of at least $5,000 every 30 days for high APY
No physical branches
Fee for cash deposits

Visit SoFi® | Read our full SoFi Checking and Savings review

Chime Checking

Best for automatic savings

2026 AWARD WINNER Best Checking for Bad or No Credit

4.9

Chime®

Chime® Checking⁶ - No Monthly Fees⁸ + Get paid up to 2 days early with direct deposit¹²

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

Open Account

Account features

Minimum deposit: $0
Monthly fee: $0
ATM access: 47,000+ fee-free ATMs¹³ Out-of-network ATM withdrawal and over the counter advance fees may apply except at FCTI® ATMs in a 7-Eleven® or Speedway, or any Allpoint® or Visa® Plus Alliance ATM participating in the Allpoint network.
FDIC insured?: Yes, Chime is FDIC insured through its partner banks, The Bancorp Bank, N.A., and Stride Bank, N.A.⁶ 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.

Chime® isn't a bank but a financial technology company. Like SoFi, the company doesn't look at your credit history or ChexSystems report when you apply for an account. There's also no minimum balance requirement to open a Chime Checking account, and Chime charges very few fees otherwise.

If you have difficulty saving money, Chime's Round Ups feature helps you save automatically on everything you pay for with your Chime Visa® Debit Card. Every transaction is rounded to the nearest dollar, and any remaining change is automatically transferred to your Chime high-yield savings account.¹⁴ Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.  ¹⁵ Chime Checking Account is required to be eligible for a Savings Account. While we wouldn't always suggest reaching for your debit card rather than a credit card, this can be a good strategy if you have a habit of overspending.

Plus, Chime offers other convenient perks that everyone deserves access to, including early direct deposit¹² Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. , fee-free cash deposits at Walgreens¹⁶ Once the retailer accepts your cash, the funds will be transferred to your Chime account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.  , and fee-free overdraft up to $200 through SpotMe®.¹⁷ SpotMe® on Credit 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. SpotMe for Credit and SpotMe on Debit share a single 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 terms and conditions</a>.

Who this account is right for: While Chime is not ideal if you want branch access, this online account is a great fit if you'd like to save money for emergencies or another goal and frequently use a debit card.

Pros

No monthly fees⁸ 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.
No minimum deposit or balance requirements
No fees for overdrafts, transfers, or foreign transactions
Automated savings tools

Cons

Mediocre savings APY of 0.75%¹⁵ Chime Checking Account is required to be eligible for a Savings Account. ¹⁸ 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 01/29/26. No minimum balance required. Must have $0.01 in savings to earn interest.  without Chime+
No in-person branch access
Cash deposit fees for other retailers

Visit Chime | Read our full Chime review

Varo Bank Account

Best for credit rebuilding

Account features

Minimum deposit: $0
Monthly fee: $0
ATM access: 40,000+ fee-free Allpoint ATMs
FDIC insured?: Yes, Varo is FDIC insured

Varo Bank is known for serving new-to-banking customers. It offers accounts and tools that can help you build better financial habits and could even help you improve your credit. It, of course, doesn't consider your credit history or ChexSystems report.

While you won't get any branch access, Varo's checking account is packed with features that should feel familiar by this point, such as early direct deposit,¹⁹ Early access to direct deposit funds depends on timing of the payer’s submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer’s scheduled payment date. cash back for eligible debit card purchases, no overdraft fees, and fee-free cash deposits at CVS locations. You can pair this account with the Varo Visa Believe Card, a secured card that requires no credit check and could help you build credit.

Plus, if you set up a direct deposit of at least $1,000 per month, you can earn 5.00% (as of 02/23/26) APY on up to $5,000 with a Varo high-yield savings account, provided that your Varo accounts end each month with a positive balance. We also like that Varo offers tools for rounding up purchases and automatically saving part of each paycheck.

Who this account is right for: We recommend Varo if you're seeking online checking and savings accounts and want to get a secured credit card to rebuild your credit.

Pros

No monthly fees
No minimum deposit or balance requirements
High 5.00% (as of 02/23/26) APY on savings accounts with direct deposit
Credit-building and savings tools

Cons

Requires direct deposit for high savings APY
5.00% (as of 02/23/26) APY earnings capped at $5,000
Up to a $4.95 cash deposit fee at other retailers

Read our full Varo review

Go2bank Account

Best for overdraft protection

Account features

Minimum deposit: $0
Monthly fee: $5, unless waived with direct deposit
ATM access: 55,000+ fee-free Allpoint ATMs
FDIC insured?: Yes, Go2bank is FDIC insured through Green Dot Bank

Offered through Green Dot, Go2bank markets itself as a "mobile bank" and doesn't require a ChexSystems report or credit check to open an account.

One of the most attractive things about the Go2bank account is its up to $300 overdraft protection, which is higher than you'll find at other banks. However, it requires opting in and receiving eligible direct deposits. The bank also offers early direct deposit²⁰ Direct deposit early availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. , instant cashback for eGift cards, and many cash deposit locations.

Additionally, Go2bank's high-yield savings accounts have savings tools and earn 4.50% on up to $5,000 of your balance, which is very competitive. Plus, the GO2bank™ Secured Visa^® Credit Card²¹ Cards issued by GO2bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. could help you build credit.

What we don't like about Go2bank is that it has a lot of fees you don't find at some other banks. For example, you'll pay a $5 monthly fee if you don't meet direct deposit requirements, a $3 fee for out-of-network ATM withdrawals, and a $15 fee for not covering overdraft balances within 24 hours.

Who this account is right for: Go2bank is great if you'd like to maximize your overdraft protection and can cover shortages quickly to avoid fees.

Pros

No minimum balance or balance requirements
Provides up to $300 in overdraft protection²² With opt-in and eligible direct deposit. $15 fee may apply for each purchase transaction not repaid within 24 hours of authorization of first transaction that overdraws account. Overdrafts paid at GO2bank’s discretion.
Savings and credit-building tools

Cons

$5 monthly fee without direct deposit
Fees of up to $4.95 for cash deposits
Must cover shortages within 24 hours to avoid fees

Read our full Go2bank review

Wells Fargo Clear Access Checking

Best for branch access

Account features

Minimum deposit: $25
Monthly fee: $5, unless waived
ATM access: 11,000+ fee-free Wells Fargo ATMs
FDIC insured?: Yes, Wells Fargo is FDIC insured

We like Wells Fargo's Clear Access Checking account because it's one of the only second-chance banking options at a brick-and-mortar bank. Marketed as both beginner-friendly and a second-chance bank account, it doesn't let you write traditional checks. By design, it only supports electronic and debit card transactions, but it offers early direct deposits.

While this account suits in-person and online banking needs, its $5 monthly fee can be a downside. However, it's waived if you're between 13 and 24, have at least $250 in qualifying electronic deposits each cycle, or receive an eligible military direct deposit.

Although Wells Fargo promotes that the Clear Access Checking account doesn't have overdraft fees, if you read the fine print, you'll find the reason is that overdraft protection isn't available. While overdraft transactions typically aren't authorized, Wells Fargo also won't charge a fee for rejecting them.

Who this account is right for: We find this account ideal if you like to bank in person, mainly conduct electronic transactions, and can avoid the monthly fee.

Pros

Requires no daily minimum balance
Thousands of branches
Great for teens and college students

Cons

$25 minimum opening deposit
$5 monthly service fee (unless waived)
No overdraft protection or paper checks

Read our full Wells Fargo banking review

Capital One 360 Checking

Best for traditional checking

Account features

Minimum deposit: $0
Monthly fee: $0
ATM access: 70,000+ fee-free Capital One, Allpoint, and MoneyPass ATMs
FDIC insured?: Capital One, N.A. is FDIC insured.

We think Capital One's 360 Checking account is a solid, well-rounded bank account, whether or not you need a second-chance checking account.

Unlike with Wells Fargo's account, you can write paper checks, take advantage of overdraft protection, and earn interest. Plus, you'll have branch access through Capital One's small number of locations in select states and be able to take advantage of fee-free cash deposits at participating retailers and early direct deposit.

Capital One 360 Checking is great for saving money. You won't pay fees for monthly maintenance, overdrafts, foreign transactions, or minimum balance requirements. Plus, you can pair it with the 360 Performance Savings account to automatically transfer funds and earn a competitive APY.

If great service is important to you, you'll appreciate that Capital One is known for providing an above-average online and mobile app banking experience. Capital One also offers several secured credit cards to help build credit.

Who this account is right for: This account is great if you prefer a hybrid banking experience and traditional checking account features, including check-writing abilities and overdraft coverage.

Pros

No monthly service fees
No minimum deposit or balance requirements
Earns interest
Local branches and Cafés for in-person banking

Cons

Fees for outgoing wires and certain checks
Locations only in select states

Read our full Capital One 360 Checking review

How to know when you need second-chance banking

Maybe you already know what's in your ChexSystems report because you've looked at it yourself or because it was cited as the reason you were denied a new checking account. (If banks deny you a new account because of your report, they'll often tell you.)

But if you don't, here are signs you might benefit from second-chance banking:

You've overdrafted your bank account(s) many times in the past, incurring overdraft and NSF fees more than once.
Your bank account balance is regularly negative, and you've experienced repercussions from this, like bounced checks and denied transactions.
You've tried to apply for new checking or other bank accounts and have been denied.

How to know you've found a second-chance checking account

Not all bank accounts that are more likely to give you a second chance advertise themselves as "second-chance bank accounts." Many do, because let's face it: Being upfront about flexible requirements is a good way to get more customers.

But sometimes, it's not obvious when you've stumbled across a great second-chance bank account.

No ChexSystems or credit check

If a bank account states that it won't consider your ChexSystems report at all when you apply for an account, there's a very good chance it's a second-chance bank account.

Editor's note

Just because a bank or company doesn't use ChexSystems reports to review your banking history doesn't mean that it won't review your banking history. Other reports exist for providing this information, including Early Warning Services (a popular alternative used by Capital One, Chase, Wells Fargo, Bank of America, and more). Still, not using ChexSystems is likely to mean you'll have an easier time qualifying if your ChexSystems report could cause problems for you.

Note that ChexSystems reports and credit reports have nothing to do with each other. Banks and financial institutions don't always look at your credit score and credit history when reviewing your applications for new bank accounts, just as credit card issuers won't look at your banking history when reviewing applications for new credit cards.

You can check out banks with no credit checks if you want to avoid having your credit work against you when applying for banking. Many of these options can also be considered second-chance accounts.

No or low minimum balance or deposit requirements

Many of the best second-chance bank accounts make it easy to open an account not just because they have fewer or less strict requirements to qualify for, but also because they don't require a lot of money upfront to open.

While not all checking accounts with no minimums are second-chance checking accounts, this benefit could be a clue that you're working with a less strict account in general.

Overdraft protection

If you consider the fact that many people who need a second chance with banking are in that position because they've had issues with overdrawing their balances, it makes sense that this perk is often tied to second-chance banking.

When you see robust overdraft protection services, which can include everything from denying all transactions that would cause a negative balance outright to failsafe solutions like fee-free overdraft coverage limits, wherein a bank or company temporarily covers your transactions for you when you're approaching a negative balance, you could be looking at a second-chance bank account.

4.3

Enjoy $400 as a new Chase checking customer

When you open a new Chase Total Checking® account with qualifying activities.²³ FDIC Insured. Offer valid through 7/15/2026.

Learn More

4.8

Bank of America Advantage Banking

Up to $500 cash offer. Click ‘Learn More' for more details. Bank of America, N.A. Member FDIC.

Learn More

5.0

AWARD WINNER Best Online Checking

SoFi Checking & Savings - Earn Up to $400 When You Set Up Direct Deposit

Limited-Time Offer: Earn a $50 or $400 bonus with eligible direct deposit and up to 4.00% APY on Savings (3.30% APY¹with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.² FDIC Insured.⁵

Learn More

FAQs

Can I open a bank account if I owe another bank money?

You may be able to open a new bank account if you owe another bank money, but many banks won't allow it.

Many banks won't let you open an account if you owe money to another bank. When you apply to open a bank account, banks often look at your credit and banking history. If you've had a lot of overdrafts, unpaid balances, bounced checks, or suspected fraudulent activity, you could be denied a bank account.

However, second-chance banks are more likely to allow you to open a bank account even if you owe another bank money because they don't consider your credit and banking history as factors for opening an account.

What is ChexSystems?

ChexSystems is a financial reporting company that provides banking history reports to banks and financial institutions. ChexSystems's reports include negative activity on bank accounts like bounced checks, unpaid balances, suspected fraud, and overdrafts.

Much like credit card companies look at your credit history in deciding whether to give you a credit card, many banks look at the ChexSystems's reports to determine if they will allow you to open a bank account.

Can I open a second-chance checking account online?

Yes, several online banks allow you to open a second-chance checking account online. SoFi®, Varo, Chime, and GO2bank are online financial companies where you can apply to open an account online.

Bottom line

If you've been denied opening a bank account due to a negative account balance, unpaid fees, or another issue and need to bring your banking history into good standing, you'll likely need a second-chance bank account at a bank or credit union.

While many second-chance bank accounts come with higher fees because of the high risk involved, there are second-chance banks where you can find accounts with minimal fees and balance requirements. We recommend exploring all your options and considering your banking needs and preferences.

Check out our list of banks that don't use ChexSystems for a look at more banks that won't fault you for your financial history.

How we rate products

The companies we chose for our best second-chance bank account list may be current or past FinanceBuzz partners. We did not review all companies in the market. When evaluating these companies, we considered factors such as monthly maintenance fees, minimum opening deposit, and APY.

Learn More

5.0

AWARD WINNER Best Online Checking

High APY of up to 4.00% on Savings (3.30% APY¹ with +0.70% APY Boost) for up to 6 Months on new accounts. Terms Apply.²

Paycheck access up to 2 days early with direct deposit⁴

No monthly maintenance or overdraft fees³

Streamlined savings and savings goals with Vaults

Access to a large ATM network⁹