Second-chance checking accounts are special bank accounts that are focused on helping people get back on track after having a negative banking record.

If you’ve struggled with bounced checks, regular overdrafts, or closing an account with a negative account balance, you may have run into issues opening a new account.

The issue of being unbanked or underbanked can lead to many issues for people who have struggled with poverty, economic instability, or those who tend to use cash to the exclusion of bank accounts.

In certain circumstances, some banks won’t allow you to open an account due to a checkered banking history. But if you’re trying to make headway towards economic stability, getting a checking account in place can go a long way towards reducing check-cashing and other nonsense banking fees.

In these circumstances, a second-chance checking account may be your best option. Here’s what you need to know about them.

Why Was I Turned Down for a New Checking Account?

In general, when you get turned down for a new checking account, it is for one of two reasons. The first reason is that you don’t meet basic account requirements. For example, some banks require customers to be 18 (or 19) years old, be a permanent resident or citizen of the United States, and possibly meet some other requirements.

Another reason banks may turn you down is based off of your banking history – this is called your banking score. Banks share derogatory banking history using a system called ChexSystems. If you’ve struggled with banking in the past, you may not look like a good candidate for a new checking account.

You can look at your checking history report for free through ChexSystems. This is worthwhile if you’ve been turned down for an account. That way, you can know what banks see when they consider you as a customer.

What Are Second-Chance Checking Accounts?

If you’ve been turned down for a checking account, you may still qualify for certain checking accounts called second-chance accounts.

In general, you have to pay a monthly fee to maintain one of these accounts, but you may be able to waive the fee by meeting certain criteria. Over time, you may be able to graduate to a fee-free checking account at the same banking institution (or another one).

The Best Second-Chance Checking Accounts

Looking for a second-chance checking account? Here are some of the best:

Chime®

Chime® is an online and mobile-first bank account that is revolutionizing banking! They advertise themselves as being very friendly for second-chance bank accounts, including no credit check and no ChexSystem (banking score) usage.

• Best features: Free debit cards, no monthly fees,  fee-free overdraft up to $200 for eligible members, 60,000 free ATMs¹
• Minimum amount to open: $0
• Number of free ATMs: 60,000 
• Monthly maintenance fee: $0
• Other account requirements: None
• Fees to know about (there’s only one):
  • $2.50 fee for out-of-network ATMs

Read our full Chime® review here.

Open an Account at Chime® >>

GO2bank

GO2bank is a digital and mobile-first bank account that is offered by Green Dot. They offer a ton of great features, from rewards to high-interest savings, with no credit check. Furthermore, you can get faster access to money, from paychecks to stimulus checks.

• Best features: No monthly fees with eligible direct deposit, overdraft protection, and more!
• Minimum amount to open: $0
• Number of free ATMs: 19,000 
• Monthly maintenance fee: $5, but waived with eligible direct deposit
• Other account requirements: None
• Fees to know about:
  • $3.00 fee for out-of-network ATMs
  • $3.00 fee for teller cash withdrawal 
  • Up to $4.95 retail service fee to deposit cash

Read our full GO2bank review here.

Open an Account at GO2bank >>

Chase Secure Banking℠

The Chase Secure Banking℠ is a solid basic checking account option that doesn’t do any type of credit or banking score check. It does have a monthly fee, but if you need a solid banking option, it could be worthwhile.

Chase Secure Banking℠ has a $4.95 per month fee.

Bonus: Right now, you can get up to a $100 bonus when you open an account and complete qualifying activities. That’s awesome!

• Best features: A second-chance checking account at a major bank with lot’s of branches.
• Minimum amount to open: $0
• Number of free ATMs: 15,000
• Monthly Service Charge: $4.95
• Other account requirements: None

Bonus Offer: Right now, you can earn a $100 bonus when you open a Chase Secure Banking℠ account with qualifying transactions.

Read our full Chase Bank review here.

Open an Account at Chase >>

Earn a $100 bonus!

Peoples Cash Solutions Second Chance Checking

The Peoples Cash Solutions Second Chance Checking account is available in all 50 states.

• Best features: Free ATMs, ability to upgrade to the Radius Rewards Checking account after 12 months of excellent banking.
• Minimum amount to open: $30.
• Number of free ATMs: Only those owned by Peoples Cash Solutions (based in Texas).
• Monthly maintenance fee: $4.95.
• Other account requirements: You have to sign up for Mastercard ATM access, and you will be charged $2 per ATM transaction when you use an ATM not owned by Peoples Bank.
• Fees to know about:
  • $27.50 overdraft fee.
  • $27.50 non-sufficient-funds fee per item (not per day).
  • $3.95 printed statement fee (avoid this by going digital).
  • $2.00 ATM withdrawal fee at machines not owned by Peoples Bank (this will apply even at Mastercard ATMs).
  • $20 account closure fee (if you close in 90 days of opening account).

Wells Fargo Opportunity Checking

The Wells Fargo Opportunity Checking account is available in all 50 states.

• Best features: Free ATMs, opportunity to waive fee, overdraft rewind fee (if you overdraft and make a deposit on the same day, the overdraft fee will be avoided).
• Minimum amount to open: $25
• Number of free ATMs: 13,000 Wells Fargo ATMs
• Monthly maintenance fee: $10 (but you can avoid this through one of the following: make 10 debit card purchases per month, maintain a balance of at least $1,500, or get direct deposits of $500 or more per month)
• Other account requirements: Avoid the monthly fee by doing any one of the following:
  • Make 10 debit card purchases per month
  • Maintain a balance of at least $1,500
  • Receive direct deposits of $500 or more per month
• Fees to know about:
  • $35 overdraft and returned item fee
  • $12.50 overdraft transfer fee (when you transfer from a savings account)
  • Returned item fee: $12

Common Questions

Here are some of the most common questions we see about second-chance checking accounts:

What is a second-chance checking account?

Second-chance bank accounts are typically called that because they offer customers the ability to get a bank account after they may have been rejected for an account at a major bank. These accounts typically have lower minimum requirements and lower limits. They also don’t typically have the same requirements for banking scores or credit scores to open.

Why was I rejected for a bank account?

Many major banks utilize banking scores or credit scores to assess whether someone can open an account. If you have a poor credit score or negative banking history, you may be rejected for a bank account. 

What banks don’t use ChexSystems?

There are several banks that advertise they don’t use ChexSystems, including Chime. 

Do credit unions offer second chance banking?

Some credit unions may offer second chance banking products.

Are there any fees for second-chance checking accounts?

Some banks do charge higher fees for second-chance checking accounts. But, there are also banks that offer free checking.

How Were These Accounts Selected?

In creating this guide, we’ve looked at our list of checking account reviews, our knowledge of the banking industry, and looked for products that did not require a banking score or banking history to open the account. Sadly, there are not many options for consumers in this financial situation, so this list includes most of the major account options.

Bottom Line

Second-chance bank accounts aren’t always a great option, but they are typically better than going without an account. Getting one of these second-chance accounts can help you re-establish yourself financially and build your financial life.