10 Second-Chance Bank Accounts for Bad Credit

It’s common for banks and credit unions to review your banking history through ChexSystems or TeleCheck to see if you’re eligible for their accounts. Those with unresolved overdrafts, a history of negative balances or involuntary account closures may struggle to qualify for traditional checking or savings accounts.

If you’re struggling to open a bank account, a second-chance bank account might be the answer.

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Capital One 360 Checking

An interest-bearing checking account with flexible overdraft options and international access.

• $0 monthly fees
• Large ATM network (70,000)
• Multiple overdraft protection options
• 0% foreign transaction fees
• Works with Zelle

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Member FDIC

Incentive Details and Disclaimers: Current Promotion

Earn a $250 bonus with 360 Checking. Open a new account on or after August 22nd, 2024 using the promo code CHECKING250 then set up and receive at least 2 qualifying direct deposits of $500 or more within 75 days of account opening. Terms Apply.

How do second-chance bank accounts work?

Second-chance bank accounts are designed to be easy to open if you have a less-than-ideal banking history. Second-chance bank accounts either don’t look at your banking history when you apply, or the account has lenient requirements.

Other than the fact that second-chance accounts are typically easier to qualify for than “regular” accounts, they work pretty much the same way that traditional bank accounts do.

However, it’s typical for a second-chance account to not allow you to overdraft, and you might have to pay a monthly fee as a trade-off for the lax eligibility requirements.

10 second-chance checking accounts

These top second-chance bank accounts have no or low opening deposit requirements, making them some of the best options out there.

Account	Opening deposit	Monthly fee	Learn more
Capital One 360 Checking Account	$0	$0	Go to site
SoFi Checking and Savings	$0	$0	Go to site
Varo bank account	$0	$0	Read Review
Bluevine Business Checking	$0	$0	Go to site
Chime® Checking Account	$0	$0	Read Review
Chase Secure Banking℠	$0	$4.95 (can be waived)	Go to site
Wells Fargo Clear Access Banking	$25	$5	Read Review
GO2bank Debit Card	$20	$5 (can be waived)	Read Review
PNC Simple Checking (previously Foundation Checking Account)	$0	$5	Read Review
U.S. Bank Safe Debit Account	$25	$4.95	Read Review

• SoFi terms and conditions

  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 received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. 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 5/15/2026 and will be available through 12/31/2026. Full terms at sofi.com/banking. 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 0.80% 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 9/23/26. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
  
  Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 9/23/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
  
  We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
  
  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 SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
  
  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.
  
  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.
  
  Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
  
  Earn up to 4.40% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.10% APY Boost (added to the 3.30% APY as of 10/20/26) 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 12/31/27. Rates are variable, subject to change. Terms apply at sofi.com/banking#4. SoFi Bank, N.A. Member FDIC.

How to check your banking history

Most banks use the bureau ChexSystems to review your banking history. ChexSystems is a specialty reporting agency under the Fair Credit Reporting Act. It’s similar to the major credit bureaus, except it keeps track of your banking history instead of your borrowing history. You can request a copy of your own ChexSystems report at no charge once every 12 months.

There’s also TeleCheck, which is another consumer bureau that tracks banking histories. For example, Chase doesn’t use ChexSystems but it does use TeleCheck.

How to choose a second-chance account

When deciding which to choose, look for some or all of the following features:

• Low opening deposits. Find an account that supports your budget out the gate.
• Minimal fees. Look for an account with low or no monthly maintenance fees. Some banks waive fees if you enroll in direct deposit, maintain a certain balance or are of a certain age.
• Accessibility. Strong accounts that offer ATM access, autopay and mobile banking will offer easier everyday banking in the long run.

Prepaid cards vs. second-chance bank accounts

You could use a prepaid debit card instead of getting a second-chance bank account — but it’s likely to cost you more money in the long run. You have to load cash onto them, and prepaid cards tend to come with a bunch of fees you won’t find with traditional debit cards and checking accounts.

Fees you’re likely to find with many prepaid cards include:

If you’re in a tight spot and can’t get a bank account immediately, a prepaid debit card can help. However, in the long-term though, the extra fees can really add up.

Pros and cons of second-chance accounts

Second-chance bank accounts can offer you a bank account until your ChexSystem report clears up, but they come with a few cons to watch out for.

Second-chance checking account alternatives

If you’re not keen on opening a second-chance checking account, here are some alternatives to consider.

• Digital bank accounts. You might have a higher chance of opening a checking account at an online bank or fintech like Chime, SoFi® and Varo, as they don’t use Chexsystems reports when reviewing applications.
• Prepaid cards. Prepaid cards don’t check your credit or your banking history, so they’re ideal for those with no credit or bad credit or if you’ve been denied a traditional account. Most come with monthly fees attached. The best prepaid cards give you ways to reduce or eliminate this fee completely.

Related: Banks With No Credit Check

Bottom Line

If past financial mistakes have made it difficult for you to open a new checking account, there’s still hope. There are several quality banks out there that offer second-chance checking accounts for those who have endured bankruptcy, bad credit or a poor history with ChexSystems. Compare your bank account options to find the right account for your needs.