Millions of Americans have been denied access to a checking account due to a wide variety of banking mistakes they may have made in the past. This can be devastating to anyone who relies on banking services to pay bills and manage their money.
If you’ve been in a similar situation where your checking account has been terminated and you’ve been having a hard time getting approved for a new one, you are not alone. Approximately 85% of banks and credit unions in the United States use databases managed by ChexSystems, Early Warning Services (EWS), or TeleCheck to share data about checking account holders.
Unfortunately, these bank monitoring companies will store your data for up to five years. So if you’ve been flagged for fraudulent activity, owe a bank money, or have had too many overdrafts on your account, odds are you’ve been flagged by at least one of these companies.
Five years is a long time to wait for a new checking account. Luckily there are countless options available for those looking for banking services in the form of second chance bank accounts! This article details the top accounts out there and can brighten your financial future with each new option.
Open an account today!
Most people are familiar with Chase, and the Chase Secure Banking account might be a good fit for a second chance bank account.
Chase Secure Banking at a Glance
- NO credit check
- NO ChexSystems
- NO minimum deposit to open
- NO overdraft fees
- FREE Chase OnlineSM Bill Pay
- FREE money orders and cashier’s checks
- Quickly send and receive money with Zelle®
- Paper checks are not offered with the account
Chase makes it easy for you to access your money from anywhere with the Chase Mobile® app, plus thousands of ATMs and branches.
Earning the $175 Bonus
New Chase checking customers enjoy a $175 checking account bonus when you open a Chase Secure BankingSM account with qualifying transactions. Qualifying transactions include debit card purchases, Zelle®, ACH credits, Chase QuickDepositSM or online bill payments. Your bonus will appear in your account within 15 days after completing the qualifying transactions.
What to Know About the Approval Process
Chase Secure Banking is the only account offered by Chase that doesn’t use ChexSystems but does use Early Warning Services (EWS). Additionally, if you’ve had an account closed by Chase in the past, your application will not be approved. Past account closures can include missteps such as non-payment of fees, excessive overdrafts, or suspected fraud.
Fees
Chase doesn’t offer overdraft services with this account as you can only spend the money you have available. You should also know that using non-Chase ATMs can cost from $3.00 to $5.00 per transaction. Surcharges from the ATM owner/network may apply.
Chase Secure Banking carries a $4.95 monthly service fee, but it can be waived when you have electronic deposits made into the account totaling $250 or more during each monthly statement period or if the account owner is between 17 and 24 years old.
Other Account Features
Chase Secure Banking offers several other features we like. This includes:
- Zero Liability Protection. Unauthorized purchases on your debit card? Let Chase know right away. With Zero Liability Protection with Chase Secure BankingSM they’ll reimburse you for charges you didn’t make.
- Budgeting Tools. Manage your spending and get daily spending insights with Snapshot in the Chase Mobile® app.
- Credit and Identity Monitoring. Track your credit score, get a personalized action plan provided by Experian™ to help improve your score and receive identity monitoring for free through Chase Credit Journey®.
- Early Direct Deposit. Get that “just paid” feeling up to two business days sooner with early direct deposit.
If you’ve wanted to bank with Chase and wondered if you’d qualify, we think you’ll be happy with the Chase Secure Banking account.
One of the biggest challenges for small businesses, entrepreneurs, and gig workers is finding the right bank account for their growing business.
The Found Business Banking Account solves that problem by simplifying your financial journey. The sign-up process takes only a few minutes. There’s no credit check or ChexSystems.
Found Business Banking at a Glance
- No opening deposit required
- No minimum balance
- No required monthly fees2
- Free unlimited ACH payments
- Free unlimited invoicing
- Free mobile check deposits
- Free built-in expense management tools
- Accept bank transfers and card payments
- Easily connect to Quickbooks, Stripe, Venmo, PayPal, Etsy, etc.
- Get paid up to 2 days early with direct deposit1
- Send money to anyone within the U.S. using their phone number or email address
- Deposit cash at over 79,000 locations
- Access your account online or on the free app
- Found’s core features are free. They also offer two paid products: FoundPlus for $35/month or $315/year and Found Pro for $80 /month or $720/year.
Fast Approval Process
Time is money and Found respects both. Sign up for your business account online and the streamlined approval process ensures you’re up and running quickly. No lengthy paperwork needed to get swift access to your financial hub.
Easy Bookkeeping and Tax Management Tools
Managing your business finances shouldn’t be a headache. You get intuitive tools such as automated expense tracking, receipt capture, unlimited custom invoices, and the ability to manage 1099 contractor payments. Plus, you get the ability to auto-save for tax payments and automatically generate tax forms.
No Hidden Fees, No Surprises
Say goodbye to unexpected charges. Found.com believes in transparency. They’ve stripped away any required monthly fees2, leaving you with a straightforward banking experience. No hidden costs2—just clarity and peace of mind.
Found is a financial technology company, not a bank. Business banking services are provided by Lead Bank, Member FDIC.3
Current1 offers an innovative account to consumers who want it all without the costs and hassles.
The Current Build account helps you build credit every time you use the card. Sign-up takes about 2 minutes and Current does not check your credit.
Current at a Glance
- NO opening deposit required
- NO credit check
- NO minimum balance
- NO fees at over 40,000 Allpoint® ATMs in the U.S.
- Fee-free overdraft (and no overdraft fees EVER)
- Paycheck advances up to $750, deposited directly into your Current account if you qualify
- Get your paycheck up to 2 days early with qualifying direct deposit
- Earn up to a 4.00% bonus on your balance up to $6,000 with direct deposit; earn 0.25% without
- Earn points for unlimited cashback at participating retailers
- Send money instantly without any added fees
- Crypto — buy and sell dozens of coins directly from spending balances, with no trading fees
- Custodial accounts — empower your kids with automatic allowances, instant transfers, and real-time spending alerts.
- An elegant but simple smartphone app
- 24/7 member support
Swipe The Card and Build Credit
Using your Current Build account to BUILD your credit is simple. Here’s how it works:
- You add money to your account
- Swipe your card to make purchases, pay bills, or get money from an ATM machine
- The funds in your account pay for these transactions
- Current reports your payment to all three credit bureaus to build your credit history
Earning the $75 Bonus
When you set up direct deposit of $1,500 or more, Current will deposit $75 into your account.
Current Works Hard for You
Current offers a really unique service it calls Gas Hold Removals. What’s a gas hold? Some gas stations may apply a hold from $50 to $100 when you use your card to pump gas. If you only pumped $10 of gas, but the gas station places a $100 hold on your funds, you won’t have access to the $90 difference for up to 3 business days! The Current Build card will immediately remove the hold so you have access to all your funds. We haven’t found that benefit anywhere in the marketplace.
We love the features, we love the smartphone app, and we love Current. That makes us think you’ll love them too.
No matter your banking past, Navy Federal Credit Union offers traditional checking for all members across the US. With no review requirements of your banking history, NFCU is an excellent choice for active duty or retired US military, family members and government contractors. There are two banking choices to choose from: Active Duty Checking and Free eChecking.
Both account options come with a free NFCU debit card. There is no monthly service fee with direct deposit. Your account is protected from overdrafts with free savings transfers, a checking line of credit or an optional overdraft protection service. You also receive:
- Free mobile deposits
- Free bill pay
- Free traditional name-only checks
- Dividends credited monthly
The SoFi Checking & Savings account is offered by SoFi Bank. It’s a checking AND savings account and we love that. Plus, they don’t use ChexSystems or your credit report to approve accounts.
SoFi Checking & Savings at a Glance
- FREE SoFi debit MasterCard
- FREE smartphone app. Manage your account online, too
- No opening deposit required
- No monthly minimum balance requirement
- No monthly maintenance fees
- No fees at 55,000+ ATMs
- Get paid up to two days early with direct deposit
How to Earn the $475 Bonus
As soon as you get your SoFi Checking & Savings account and deposit $50 or more within 21 days, you’ll earn $50. Earn an additional $25 bonus when you enroll in SoFi Plus within 21 days ($10/mo). When you set up direct deposit from an employer, SoFi will credit your account up to an additional $400 (depending on the amount of your direct deposit).
Using the SoFi direct deposit option unlocks additional benefits, too. First, if you overspend a bit, SoFi will cover up to $50 with no overdraft fees. Second, you’ll receive a much higher interest amount of 3.10% APY on savings account balances and .50% APY on checking account balances.
The sign-up process can take less than 60 seconds. With over 14.7 million members, SoFi is a bank you can count on!
Claire M., SoFi CustomerSoFi has been great! The account was easy to open and I got my debit card a few days later. The smartphone app is easy to use and I can check everything from my computer, too. SoFi seems to be the perfect bank.
Go Further from GTE Financial helps put you on the path to a better checking account. If you don’t qualify for a traditional account, the Go Further account will help you get there in as little as 12 months. We consider this a low-cost second chance checking. As long as you make a total deposit of $500 for the month, opt to receive eStatements and make 15 monthly transactions, the $9.95 maintenance fee is waived.
GTE Financial is one of the largest credit unions in the US. Membership is open to anyone through easy requirements and an online application process. The Go Further account includes:
- Free EMV-equipped debit card with built-in rewards
- Online and mobile banking tools
- Free bill pay service
- Easy money transfers through the Popmoney service
GTE Financial is based in Florida, but anyone in the 50 states can open an account online for free.
Acorns is making a name as a place to invest money for the long term, but what we really like is that they offer both checking and savings accounts. That makes Acorns another of our favorite bank accounts. As a company built to compete with the largest banks, Acorns offers some extraordinary benefits.
We love the heavy metal tungsten Visa debit card and the world-class smartphone app that allows you to manage every aspect of your new checking account such as budgeting, spending, and security.
Another nice option is the ability to round up on every purchase and Acorns will take that money and automatically put it in a savings account. This really helps build a nest egg.
It takes about 2-3 minutes to sign up and not only do you get a checking and savings account, but you also have access to an investment account once you’re ready to consider that. And, it’s free. Here’s more:
- FREE Visa® debit card
- FREE bank-to-bank transfers
- FREE physical check sending online or through the mobile app
- FREE mobile check deposits
- FREE access to 55,000+ fee-free ATMs
- NO minimum balance or overdraft fees
- NO credit check
- $3 monthly fee
- FDIC insured
Acorns was built to give everyone the tools to manage their finances which makes it one of our top picks.
GO2bank™ is an offering of pre-paid card giant GoBank and we think it’s a step in the right direction. Like some of the newer “challenger banks” GO2bank will deposit your direct deposit check up to 2 days early and has cashback rewards on several categories of purchases. This account also makes you eligible for the GO2bank credit card, which has no annual fee or required credit check.
One significant drawback to many online-only bank accounts is that they have no way to accept cash deposits. But GO2bank accepts cash deposits at over 90,000 Green Dot locations nationwide. However, participating retailers may charge you a fee.
If you direct deposit over $500, your monthly maintenance fee of $5.00 is waived. And, they offer a pretty sweet overdraft protection program, but it has a gotcha charge of $15 if you don’t replace the funds within 24 hours.
Account-holders will appreciate the ability to budget their money with the help of a mobile app, budgeting tools, and a savings vault. In fact, they pay 1% on all money in the saving vault up to $5,000. Terms and conditions apply1.
Novo understands small business owners and makes it easy to open and manage an account. As an online-only bank, you’ll find Novo strikes the right balance between technology, human touch, and real-world benefits. Here are some of our favorite features for Novo Business Checking:
- NO monthly fees
- NO minimum balance requirement
- NO NSF fees
- ATM fee reimbursement up to $7/month
- NO credit check or ChexSystems
- FREE Mastercard debit card
- FREE mobile app
- FREE transfers, mailed checks, and incoming wires
- FREE invoicing to create, send, and track invoices
- FREE mobile check deposit
Application Process
It takes about 10 minutes to sign up for a Novo account. You’ll need personal and business information, which may include a social security number, business tax ID, and business formation documents. They do not check your credit or use ChexSystems.
Novo is growing quickly. Their offering is popular with small business owners. The account approval process is currently taking 1-2 business days and once you’re approved, you can get full access to your account with a simple $50 deposit.
United Bank does not use ChexSystems or a credit report when you apply for their Essential Checking account.
Essential Checking has no overdraft fees and no minimum balance requirements. All you’ll need to get started is a $25 opening deposit. You’ll also gain access to their mobile smartphone app where you can deposit checks and monitor your account.
There is no monthly fee for customers 25 and under. For customers 26 years of age or older, there is a $5 monthly fee with eStatements and a $7 monthly fee if you want paper statements.
You can apply for a United Bank checking account if you live in Washington D.C. or one of the following 7 states: Maryland, North Carolina, Ohio, Pennsylvania, South Carolina, Virginia, or West Virginia.
Fast-growing Chime® is one of our favorite checking accounts. The account has some amazing features and Chime accepts almost all customers who apply… even if you have bad or poor credit or have been blacklisted by ChexSystems or the credit bureaus.
Chime at a Glance
- NO credit check or ChexSystems
- NO initial deposit required
- NO minimum balance required
- NO monthly or annual fees
- NO NSF/overdraft fees1
- NO foreign transaction fees
- NO fees at over 47,000 ATMs2
- NO fees for mobile and online bill pay
- FREE cash deposits at 8,500+ Walgreens3
- Get your paycheck up to 2 days early with direct deposit4
- Over 1,000,000+ 5-star reviews for the Chime smartphone app
- Instantly transfer funds to friends and family without additional apps5
- FDIC insured account up to $250,000
Savings Made Easy
Chime was one of the first to offer a “round up” option. If you use your Chime card on a purchase of $10.65, Chime gives you the option of automatically rounding up to $11.00 and putting the remaining $.35 in your free Chime savings account. And that adds up over time! Plus, Chime pays 1.25% Annual Percentage Yield (APY)6 in interest on that savings account.
We don’t think there is another company innovating for their customers like Chime.
How ChexSystems, TeleCheck, and Early Warning Services Operate
If you’ve been banned from your bank and your account has been terminated, you might think that you can get around this by switching to a different bank. However, this is not always easy because of companies like ChexSystems, TeleCheck, and Early Warning Services (EWS).
What Do These Companies Do?
These companies record and store your banking history for up to five years, making it difficult and frustrating to open a new bank account. They track your data and can categorize you as “high risk” if you’ve made certain banking mistakes.
Being considered a high-risk consumer will usually happen if you have bounced checks (which is usually accidental), written bad checks (a deliberate act), have a low credit score, or break a bank’s rules somehow.
You can also be put in the high-risk category if you exceed the daily ATM withdrawal limit or you’re frequently transferring money between accounts. You could show up in their databases just by making a seemingly common mistake!
Companies like ChexSystems will essentially create a credit report for banks that outlines any past transgressions you might have made. These companies work similarly to credit reporting agencies in that they gather all available consumer data to create a banking report.
How Will This Affect You?
Much like how a bad credit score can prevent you from being approved for a loan or a new credit card, having a bad banking report will make it difficult to be approved for something as essential as a checking account. This can turn into a major issue for customers who have good intentions but just happen to make some poor financial decisions.
Thankfully there are many second chance banking options to consider if you find yourself in a situation where your current account has been terminated and you’re looking for a second chance.
These second chance bank accounts include the latest banking features like mobile and online tools, great customer service, and little to no monthly fees. Some of these second chance bank accounts also have very high approval rates making it possible for those who have made financial mistakes in the past to regain access to the banking system.
5 Things to Look For in Second Chance Bank Accounts
When choosing a second chance banking account, it is important to compare options to find the best fit for you. You shouldn’t settle for accounts with tight restrictions and high fees. Many desperate customers will make this mistake because they think it is the best option they have after being banned from their previous financial institution.
Here are five considerations you should review when choosing a second chance banking account:
- No minimum balance requirements
- Low or zero monthly fees
- Check-writing abilities
- Online and mobile banking
- Debit card access
What Is ChexSystems?
Many consumers will go their whole lives without ever even hearing about ChexSystems until they get denied a checking account or a merchant denies their check. For those who are not familiar, ChexSystems is a consumer reporting agency that tracks your checking and savings account activity.
They work similarly to credit reporting agencies like Equifax, Experian, and TransUnion. These agencies collect data on consumers’ loan and credit card history and take that information to calculate a credit score.
ChexSystems is slightly different in that they collect banking data. Negative marks on your banking history will not show up on your credit score. However, they can seriously hurt your ability to open a new bank account if you have too many negative events reported.
This can be devastating to most people who rely on checking account services to pay their bills and make everyday purchases.
ChexSystems is ultimately not responsible for a bank denying you a checking account. However, the information they track and provide to the major banks does contribute to their decision to deny an account.
Here is the information that ChexSystems collects:
- Paid and unpaid insufficient fund items (NSF)
- Any type of fraud
- Overdrafts, ATM transactions, or automatic payments the bank paid
- Abuse of debit card, savings account, or ATM card
- Violations of any banking rules and regulations
- Opening an account with false information
What Is Early Warning Services (EWS)?
Early Warning Services (EWS) was created by a group of major banks, including Wells Fargo, Capital One, BB&T, JP Morgan Chase, and Bank of America. They created this system to prevent fraud and reduce risk. Unlike ChexSystems, which is primarily focused on tracking individuals who mismanage bank accounts, EWS focuses entirely on fraudulent activity.
The EWS database essentially tracks consumers’ negative interactions with banks. These negative interactions can include activities like fraud, forgery, check alteration, and counterfeiting.
What Is TeleCheck?
Much like the credit bureaus, ChexSystems, and EWS, TeleCheck is another consumer reporting agency whose primary focus is consumer information related to checks and bank accounts.
TeleCheck is most commonly used by retailers as a way to determine how risky any given check is. TeleCheck’s system will flag any potentially fraudulent checks at the time of the transaction. Checks approved by the system guarantee full payment to the retailer. This system is essential for retailers who need a way of verifying the validity of a check.
What’s the Difference Between a Second Chance Bank Account and a No ChexSystems Bank Account?
Consumers that have been flagged by ChexSystems are going to want to look for second chance banks or banks that don’t use ChexSystems during the application process. Picking either of these options will ensure that you have a lot better chance of successfully opening an account.
Banks that offer second chance checking accounts will use ChexSystems, EWS, and/or TeleCheck to screen their account applicants. However, they are still likely to approve your account as long as you don’t owe that institution any money. This is great for anyone who has a more minor infraction on their ChexSystems record and not for people who owe a lot of money or have been flagged for fraudulent activity.
If you seek out banks that don’t use ChexSystems at all during the application process, you do not have to worry about how minor or major your ChexSystems record looks.
Is Second Chance Banking a Better Option Than a Prepaid Card or Payday Loan?
Finding a solid second chance banking account is a much more convenient and affordable option compared to check-cashing businesses like payday loans and prepaid debit cards.
Payday lenders will usually trick their customers with hidden fees even for payments made on time. With high interest rates and terrible repayment terms, these types of financial products have been identified as some of the worst options out there for consumers.
Frequently Asked Questions About Second Chance Banking
Here are a few commonly asked questions about second chance bank accounts:
What information will I need for the application process?
If you’re considering applying for a second chance banking account, all you will need is your Social Security number or individual tax ID number. In some cases, you will be asked additional questions for verification.
What is the likelihood that my application will be accepted?
The best second chance bank accounts have an acceptance rate of approximately 95%. There’s a very good chance you will be able to open an account.
Will I receive a pre-paid card or a checking debit card?
Out of all the reputable second chance bank accounts we’ve researched, none will send you a pre-paid card. Instead, you will get either a Visa or Mastercard debit card, which will be linked directly to your bank account. These cards will come with a PIN and will have the same functionality as any other card on the Visa or Mastercard network.
Will my second chance banking account be FDIC insured?
Most second chance bank accounts are insured for up to $250,000 by the federal government.
Best Second Chance Banks by State
To find more information and additional options available in your area, select your state from the list below and explore your options.
Conclusion
Getting your bank account terminated can make it challenging to get approved for another traditional checking account. The good news is that you have plenty of options!
You can open a second chance banking account that will offer many of the same benefits as a traditional checking account and get your finances back in order in no time!
1Eligibility requirements apply. Overdraft only applies to debit card purchases and cash withdrawals. Limits start at $20 and may be increased up to $200 by Chime. See chime.com/spotme.
2Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. Cash deposit or other third-party fees may apply.
3Customers are limited to three $1,000 cash deposits at Walgreens each day and $10,000 each month.
4Early 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.
5Sometimes instant transfers can be delayed. The recipient must use a valid debit card to claim funds. Once you are approved for a Chime Checking Account, see your issuing bank’s Deposit Account Agreement for full Pay Anyone Transfers details. Please see the back of your Chime debit card for your issuing bank. See Terms and Conditions.
6The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of January 29, 2026. No minimum balance required. Must have $0.01 in savings to earn interest.
1Current 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.
The Current Visa® Debit Card issued by Choice Financial Group, and the Current Visa® secured charge card issued by Cross River Bank, are both pursuant to licenses from Visa U.S.A. Inc. and may be used everywhere Visa debit or credit cards are accepted. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required. Additional product disclosures can be found here.
1Direct deposit funds may be available for use for up to two days before the scheduled payment date. Early availability is not guaranteed.
2Found’s core features are free. Found also offers optional paid products, Found Plus for $35/month or $315/year or Found Pro for $80/month or $720/year. Discount rates may apply. There are no monthly account maintenance fees, but other fees such as transactional fees for wires, instant transfers, and ATM apply. Read the Found Fee Schedule.
3Found is a financial technology company, not a bank. Business banking services are provided by Lead Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. FDIC insurance only covers the failure of an FDIC-insured depository institution. The Found Mastercard Business debit card is issued by Lead Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted.