Banking Options for Low-Income Individuals & People in ChexSystems
Many people with low income or negative banking history (e.g., flagged in ChexSystems) struggle to access traditional banks. Fortunately, several banks and credit unions offer second chance, no-fee, or low-barrier accounts.
1. Second Chance Bank Accounts
These accounts are designed for people who’ve had issues with banks in the past (e.g., overdrafts, account closures, or are listed in ChexSystems).
🔹 Features:
- No or low monthly fees
- No minimum balance
- Free debit card and online banking
- No credit check (some still check ChexSystems but are more lenient)
Common Banks Offering Second Chance Accounts:
| Bank/Credit Union | Account Name | Monthly Fee | Key Info |
|---|---|---|---|
| Chime | Spending Account | $0 | No ChexSystems, no overdraft fees |
| Varo Bank | Varo Bank Account | $0 | No ChexSystems, all-digital |
| Bank of America | SafeBalance Banking | $4.95 | Limited check writing, no overdraft |
| Wells Fargo | Clear Access Banking | $5 | May accept ChexSystems with old history |
| Woodforest Bank | Second Chance Checking | $9.95–$11.95 | Specifically for ChexSystems customers |
| Go2Bank (Green Dot) | Online Checking | $5 (waivable) | Accepts most with ChexSystems issues |
| PNC Bank | Foundation Checking (in some states) | $7 | Second chance in select branches |
2. Online & Mobile-Only Banks (No ChexSystems Check)
These are ideal for people who want a basic, no-fee account and may be turned away from traditional banks.
| Bank | Highlights |
|---|---|
| Chime | No ChexSystems, no fees, SpotMe overdraft |
| Varo | No monthly fees, early direct deposit |
| Current | No ChexSystems, budgeting tools included |
| Go2Bank | Accepts prior banking issues, offers mobile deposits |
3. Credit Unions with Second Chance Accounts
Credit unions are nonprofit institutions that often offer more flexibility and personalized service.
| Credit Union | Program Name | Notes |
|---|---|---|
| DC Credit Union | Fresh Start Checking | Based in Washington, D.C., allows recovery accounts |
| Southwest Financial FCU | Fresh Start Checking | Nationwide membership options |
| Hope Credit Union | Easy Checking | Serves the Southeast U.S. |
| Local Credit Unions | Varies | Many offer 2nd chance options – call or visit in person |
Tips for Getting Approved
- Call before applying – Ask if they use ChexSystems and if they have second chance accounts.
- Explain your situation – Some banks will reconsider if your ChexSystems issues are older or have been paid.
- Consider online-only options – Many are more flexible and don’t run traditional background checks.
- Use your local credit union – They are often more community-minded and accommodating.
Documents Usually Needed to Open an Account
- Government-issued photo ID (driver’s license, state ID, passport)
- Social Security number or ITIN
- Proof of address (utility bill, lease, or official mail)
What Is ChexSystems?
ChexSystems is a banking history database used by banks to screen applicants. You may be listed if you:
- Overdrew your account and didn’t pay it back
- Had your account closed by the bank
- Committed fraud or had unresolved debts
You can check your status for free:
- Request your report: https://www.chexsystems.com
Need Help Opening a Bank Account?
- Visit a BankOn-certified institution near you: https://joinbankon.org
- Talk to a local credit counselor or community nonprofit
- Contact a local credit union for second chance options
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