Second Chance Checking Accounts Across the U.S.
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Second Chance Checking Accounts in the U.S.
Second chance checking is an option if you’ve been rejected for an account due to poor banking background. The accounts are available in every state.
Written by Spencer Tierney Senior Writer | Certificates of Deposit and ethical banking, as well as banking deposit accounts Spencer Tierney is a consumer banking writer for NerdWallet. He has written about finances for individuals since the year 2013 with a focus on certificate of deposit, as well as other banking topics. The work he has written for him was covered on The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among other publications. He is located in Berkeley, California.
and Chanelle Bessette, Lead Writer/Spokesperson Banking, checking Accounts, Cash Management Accounts Chanelle Bessette works as a financial writer at NerdWallet covering banking. She previously worked at Fortune, Forbes and the Reno Gazette-Journal. She also serves as a spokesperson for the bank team, and her expertise has been published on The New York Times, Vox and Apartment Therapy.
3 March 2022
Editor: Carolyn Kimball Assigning Editor – Banking | Los Angeles Times, San Jose Mercury News Carolyn has been employed in newsrooms across the across the country as a reporter as well as an editor. Her passions are personal finances, science-fiction fiction novels and absurd Broadway musicals.
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If you’ve had the unfortunate experience of being refused a checking account due to past problems with banking — for instance, a closed account due to overdraft fees not paid Second chance checking might give you a second chance at banking.
Are you ready to compare accounts? Skip ahead to
What is second chance checking?
A serious banking issue could land you on a waiting list by the consumer reporting agency ChexSystems. Banks will review it or similar sources before approval of new accounts and having a flawed bank history due to bounced checks, unpaid fees, or account closures makes the odds less favorable for you to be approved.
Certain credit unions and banks offer “second chance” checking accounts for people in this circumstance. These accounts are able to help to rebuild their bank histories however they do not offer all the services that come with regular checking accounts.
What are the pros and cons of checking twice?
Checking accounts with second chance generally include monthly charges that cannot be waived. They also typically have more requirements than standard checking accounts, such as making direct deposit arrangements or taking a money management class. There is no way to sign up for an overdraft plan, as the reason for having the second chance account is to show that you can avoid excessive withdrawals.
Checking accounts with these types of accounts can help build a better banking record however they aren’t able to help rebuild credit. Consider the possibility of a credit card with a security.
However, despite their shortcomings Second chance checking accounts often outperform alternatives, like cash-cashing or prepaid debit cards. services. These accounts can have high charges for transactions and requirements for balances however, they may not have convenience features such as online banking.
If you can stay clear of negative balances or fees Second chance checking accounts let you switch to a regular check within six months to a year.
>> Want to explore other options? Take a look at our roundup of the
Making a second attempt at a checking your account
The most successful second chance accounts include:
Monthly fees that are low or zero.
No minimum balance requirement.
Services include debit card access Online bill pay, unlimited check writing privileges -absolutely no cost.
Few limits, such as the daily and monthly max transaction amounts.
Not all second chance checking accounts offer these options. Certain accounts charge monthly charges as high as $20 and do not issue checks or debit cards for account owners. Be sure to check the fees and conditions prior to submitting an application.
National second chance banking
A handful of banks and financial companies that are backed by banks provide second chance checks across the country:
(account name: Spending Account, available online)
(account account name is GoBank account name: GoBank. It is available on the internet as well as at Walmart locations).
(account name: Essential Checking, available online).
(account name: Bank Account, available online)
(account name: Clear Access Banking, accessible in 39 states and Washington, D.C.).
Most major banks don’t offer second chance checking, however some community banks and credit unions offer them under different names like Opportunity Checking and Fresh Start Checking.
If you can’t find one on the list below, see if your community is part of a Bank On program. It’s an initiative that many communities have joined that allows local and city government banks work together to assist those trying to get back into banks. Another option is an prepaid debit card offering high-quality services and low fees.
Compare second chance checking accounts
NerdWallet’s ratings are determined by the editorial staff. The scoring formulas are based on multiple data points for each financial service and product.
GoBank
Monthly fee : $8.95 (unless waived).
Overdraft fee No fee for overdrafts.
Special feature : Up to 2 days early direct transfer.
NerdWallet’s ratings are determined by the editorial staff. The scoring formulas take into account several data points associated with each financial service and product.
at Varo Bank, Member FDIC
Varo
Monthly cost : None.
Overdraft fees No fee for overdrafts.
Extra bonus : 55,000 free ATMs.
The ratings of NerdWallet are formulated by our editorial team. The scoring formulas consider many data points for every financial product or service.
LendingClub Essential Checking
Monthly fee : $9.
Overdraft fee $5.
Special feature : Possibility to change to rewards checking once the course of a year.
Second chance accounts for state and regional entities checking accounts
A few regional credit unions and banks have second-chance account options. However, the customers are required to reside in specific states or fulfill certain other requirements for membership. Here’s a list with a few these institutions.
Regional credit union and bank accounts
American Airlines Credit Union : Appalachian Community Federal Credit Union : Bank of the Ozarks : BOK Financial : Centennial Bank : City National Bank : Corporate America Family Credit Union : Fifth Third Bank : First Financial Bank : Hope Credit Union : OneUnited Bank : Republic Bank : Simmons Bank : Staley Credit Union : Unify Financial Credit Union : Webster Bank : Woodforest National Bank :
Want (or require) an account with an institution of state? You can find options by clicking here.
Alabama
Avadian Credit Union : Azalea City Credit Union : Community Bank & Trust : Family Security Credit Union : First National Bank : Gulf Winds Federal Credit Union : United Bank :
Alaska
True North Federal Credit Union :
Arizona
Alhambra Credit Union : Banner Federal Credit Union : Copper State Credit Union : MariSol Federal Credit Union : Tucson Old Pueblo Credit Union :
Arkansas
Diamond Bank : Red River Credit Union : River Valley Community Federal Credit Union :
California
Befit Financial Federal Credit Union : Excite Credit Union : Foothill Credit Union : Los Angeles Federal Credit Union : North County Credit Union : Premier America Credit Union : Priority One Credit Union : Self-Help Federal Credit Union : Strata Credit Union :
Colorado
Liberty Savings Bank : NuVista Federal Credit Union :
Connecticut
Eastern Savings Bank : Finex Credit Union : Hartford Federal Credit Union : Tobacco Valley Teachers Federal Credit Union :
Delaware
There are no accounts at state-owned financial institutions. Check for regional and national options.
District of Columbia
No accounts found at banks and financial institutions located in the United States. Look for national and regional options.
Florida
Axiom Bank : Central Credit Union of Florida : Community First Credit Union : Compass Financial Federal Credit Union : First American Bank : First Florida Credit Union : Gold Coast Federal Credit Union : Gulf Winds Federal Credit Union : JetStream Federal Credit Union : Liberty Savings Bank : McCoy Federal Credit Union Membership First Credit Union of Florida : Okaloosa County Teachers Federal Credit Union : Priority Credit Union : San Antonio Citizens Federal Credit Union : South Florida Federal Credit Union : United Bank :
Georgia
Community Bank & Trust : Excel Federal Credit Union : Georgia’s Own Credit Union : Health Center Credit Union : Members United Credit Union : Peach State Federal Credit Union :
Hawaii
No accounts found at state-based financial institutions. Check for regional and national alternatives.
Idaho
Latah Credit Union :
Illinois
Catholic & Community Credit Union : First American Bank : First National Bank and Trust Company : Marquette Bank : Prairieland Federal Credit Union :
Indiana
Centra Credit Union : Diamond Valley Federal Credit Union : Evansville Teachers Federal Credit Union : Heritage Federal Credit Union : Horizon Bank : Park Community Credit Union : Regional Federal Credit Union :
Iowa
Collins Community Credit Union : Federation Bank : Greater Iowa Credit Union : North Iowa Community Credit Union :
Kansas
Central National Bank : United Consumers Credit Union :
Kentucky
The Cecilian Bank : Central Bank : Evansville Teachers Federal Credit Union : First United Bank and Trust Company : FNB Bank : Heritage Federal Credit Union : Home Federal Bank : Park Community Credit Union :
Louisiana
Pelican State Credit Union : Southwest Louisiana Credit Union :
Maine
Five County Credit Union :
Maryland
Central Credit Union of Maryland : Clear Mountain Bank : Market USA Federal Credit Union : Security Plus Federal Credit Union :
Massachusetts
Alden Credit Union : Athol Credit Union :
Michigan
Credit Union One : Horizon Bank : Marshall Community Credit Union : members First Credit Union : Michigan State University Federal Credit Union :
Minnesota
Minnesota Valley Federal Credit Union :
Mississippi
Citizens National Bank : Gulf Coast Community Credit Union : Magnolia Federal Credit Union : MUNA Federal Credit Union :
Missouri
Columbia Credit Union : Electro Savings Credit Union : First State Community Bank : Health Care Family Credit Union : Montgomery Bank : St. Louis Community Credit Union : Town & Country Bank : United Consumers Credit Union : United Credit Union : Wood & Huston Bank :
Montana
Clearwater Credit Union : Valley Credit Union :
Nebraska
Central National Bank :
Nevada
Clark County Credit Union : WestStar Credit Union :
New Hampshire
No accounts found at state-based financial institutions. Look for options that are national.
New Jersey
Credit Union of New Jersey : Jersey Shore Federal Credit Union : United Teletech Financial Federal Credit Union :
New Mexico
Bank of Albuquerque : Lea County State Bank :
New York
Adirondack Regional Federal Credit Union : Alternatives Federal Credit Union : Centra Credit Union : Financial Trust Federal Credit Union : Fulton Savings Bank : Genesee Valley Federal Credit Union :
North Carolina
Charlotte Metro Credit Union : Excite Credit Union :
North Dakota
There are no accounts at state-owned financial institutions. Check for national options.
Ohio
Buckeye State Credit Union : Eaton Family Credit Union, Inc. : Hopewell Federal Credit Union : Kemba Federal Credit Union : Members Trust Federal Credit Union : Superior Credit Union :
Oklahoma
Allegiance Credit Union : Bank of Oklahoma : Citizens Bank of Edmond : Oklahoma Educators Credit Union : TTCU Federal Credit Union Weokie (Credit Union) : Western Sun Federal Credit Union :
Oregon
Point West Credit Union :
Pennsylvania
Utilities Employees Credit Union : West Branch Valley Federal Credit Union :
Rhode Island
No accounts found at state-based financial institutions. Check for regional and national options.
South Carolina
Caro Smart Financial Solutions : Carolina Trust Federal Credit Union : HopeSouth Credit Union : Market USA Federal Credit Union : Peach State Federal Credit Union: Vital Federal Credit Union :
South Dakota
There are no accounts at state-owned financial institutions. Look for options that are national.
Tennessee
First National Bank : Greater Eastern Credit Union : Holston Methodist Federal Credit Union : Home Federal Bank : Select Seven Credit Union :
Texas
4U Credit Union : Abilene Teachers Federal Credit Union : AFFCU : Allied Federal Credit Union : Associated Credit Union of Texas : Bank of Texas : Baptist Credit Union : Chocolate Bayou Credit Union : Diamond Bank : First Service Credit Union : Houston Metropolitan Federal Credit Union : Kelly Community Federal Credit Union : MemberSource Credit Union : Members Trust Federal Credit Union : Memorial Credit Union : Neighborhood Credit Union : North East Texas Credit Union : Peoples Bank : Premier America Credit Union : Prestige Community Credit Union : Red River Credit Union : Rio Bank : Select Federal Credit Union : Southside Bank : Tarrant County’s Credit Union : United Heritage Credit Union : Unity One Credit Union :
Utah
American United Federal Credit Union : Cyprus Credit Union :
Vermont
There are no accounts at state-owned financial institutions. Look for options that are national.
Virginia
Central Virginia Federal Credit Union : Healthcare Systems Federal Credit Union : Member One Federal Credit Union :
Washington
MountainCrest Credit Union :
West Virginia
Clear Mountain Bank : West Virginia Federal Credit Union :
Wisconsin
Brewery Credit Union : Dane County Credit Union : First National Bank and Trust Company : Tomahawk Community Bank :
Wyoming
WyHy Federal Credit Union : WYO Central Federal Credit Union : Valley Credit Union :
Did we miss an institution that you have a financial relationship with on this list? Please .
About the authors: Spencer Tierney is an expert on deposits in certificates at NerdWallet. He has had his work highlighted in USA Today and the Los Angeles Times.
Chanelle Bessette writes as a finance personal writer for NerdWallet that covers banking. She is a specialist in checking and cash management accounts.
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