The 4 best second-chance checking accounts of 2024
Best for no fees

Chime Second Chance Banking Learn More Monthly maintenance fee None

Minimum balance None

Free ATM network 60,000+ fee-free ATMs

Overdraft fee None

Minimum deposit to open None

Annual Percentage Yield (APY) N/A Terms apply. Pros No minimum balance

No monthly fees

No overdraft fee

FDIC-insured

Access to over 60,000 fee-free ATMs Cons No APY

No physical branches Learn More View More

Best for rewards

Varo Bank Account Learn More Bank Account Services are provided by Varo Bank, N.A., Member FDIC. Monthly maintenance fee None

Minimum balance $0

Free ATM network More than 40,000+ fee-free in-network Allpoint ATMs in the U.S.

Overdraft fee $0

Minimum deposit to open None

Annual Percentage Yield (APY) $0

Mobile check deposit Yes Terms apply. Pros Huge ATM network

No monthly fee and no overdraft fee

No minimum balance Cons No APY

No physical locations Learn More View More

Who's this for? Varo is great for those who want the convenience of mobile banking and an opportunity to earn cash back on select debit card purchases. Standout benefits: With a Varo debit card, you can earn up to 6% cash back (up to $50 back per month) on eligible purchases with specific retailers. These offers vary, but in the past have included brands such as McDonald's, Popeyes, Macy's, PetSmart and Forever 21. [ Jump to more details ]

Best for welcome bonus

Chase Secure Banking℠ Learn More On Chase's secure site Monthly maintenance fee $4.95

Minimum deposit to open $0

Minimum balance None

Annual Percentage Yield (APY) N/A

Free ATM network More than 15,000 Chase ATMs

ATM fee reimbursement None

Overdraft fee N/A

Mobile check deposit Yes Terms apply. Pros Top-rated mobile app

No minimum deposit to open an account

New account holders can earn a $100 bonus with qualifying activities (Offer expires 7/24/2024) Cons No APY

No reimbursement for out-of-network ATM fees Learn More View More

Best for military members

Wells Fargo Clear Access Banking Learn More Wells Fargo Bank is a Member FDIC. Monthly maintenance fee $10, with options to waive

Minimum deposit to open $25

Minimum balance None

Annual Percentage Yield (APY) N/A

Free ATM network 11,000+ Wells Fargo ATMs

Overdraft fee N/A Terms apply Pros Four ways to waive the monthly maintenance fee

Send and receive money with Zelle

Easy-to-use mobile app Cons $25 minimum deposit to open an account

No APY

No reimbursement for out-of-network ATM fees How to avoid the monthly fee: Maintain $500 in combined minimum deposit balances,

or make qualifying direct deposits totaling $500 or more,

or be between 17 - 24 years old

or have a linked Wells Fargo Campus ATM Card or Campus Debit Card (for college students) Learn More View More

Who's this for? Wells Fargo Clear Access Banking is a second-chance account to consider if you qualify for Wells Fargo's Worldwide Military Banking program. Standout benefits: This checking account's $5 monthly fee is waived if you are part of Wells Fargo's Worldwide Military Banking program. To be eligible for the program, you need to receive a "qualifying monthly non-civilian military direct deposit" to your Wells Fargo account. The fee is also waived if the primary account holder is between the ages of 13 and 24 years old or a Wells Fargo Campus ATM Card or Campus Debit Card is linked to the account. [ Jump to more details ]

More about the best second-chance checking accounts

Chime Second Chance Banking

Chime is an online-only fintech company that offers banking services through The Bancorp Bank, N.A. or Stride Bank, N.A. Its Second Chance Banking option boasts no monthly fees and no credit or ChexSystems check. Although it has no physical branches, you can deposit cash for free at Walgreens locations. Minimum balance requirement None Minimum opening deposit None Annual percentage yield (APY) N/A Important fees Overdraft fee : None

: None Monthly maintenance fee : None

: None Foreign transaction fee : None

: None ATM fees: No transaction fees at MoneyPass ATMs at 7-Eleven locations and Allpoint or Visa Plus Alliance ATMs [ Return to summary ]

Varo Bank Account

Varo is an online-only national bank. It has no monthly fees, no overdraft fees and no minimum balance requirement. Customers have access to more than 40,000 fee-free ATMs, and those with direct deposits set up can get access to their funds up to two days early. Minimum balance requirement None Minimum opening deposit None Annual percentage yield (APY) N/A Important fees Overdraft fee : None

: None Monthly maintenance fee : None

: None ATM fees: No fees at U.S.-based All-Point ATMs; $3.50 fee for cash withdrawals at non-All-Point ATMs and international ATMs [ Return to summary ]

Chase Secure Banking℠

Chase Secure Banking℠ has a small monthly maintenance fee with no way to waive it, but the account's welcome bonus can ease the sting of that fee significantly. As one of the biggest banks in the U.S., customers have access to a large ATM network and more than 4,700 physical branches. Other perks include Chase Credit Journey, allowing you access to your free credit score and identity fraud alerts. Minimum balance requirement None Minimum opening deposit None Annual percentage yield (APY) N/A Important fees Overdraft fee : None

: None Monthly maintenance fee : $4.95

: $4.95 Foreign transaction fee : 3%

: 3% ATM fees: None for Chase ATMs; $3 fee per withdrawal at a non-Chase ATM in the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply. $5 fee per withdrawal at a non-Chase ATM outside of the U.S., Puerto Rico and the U.S. Virgin Islands. Surcharge Fees from the ATM owner/network still apply. [ Return to summary ]

Wells Fargo Clear Access Banking

Wells Fargo Clear Access Banking offers a clear path to eventually to a standard bank account. After 365 days, customers can convert into any Wells Fargo consumer checking account available. Although the account has a low monthly fee, there are several ways to avoid it. Minimum balance requirement None Minimum opening deposit $25 Annual percentage yield (APY) N/A Important fees Overdraft fee : N/A

: N/A Monthly maintenance fee : $5, can be waived by meeting certain requirements

: $5, can be waived by meeting certain requirements Foreign transaction fee : 3%

: 3% ATM fees: $0 at Wells Fargo ATMs; $2.50 at non-Wells Fargo U.S. ATMs (including U.S. territories); Up to $5 at non-Wells Fargo ATMs outside the U.S. [ Return to summary ]

FAQs What is a second-chance bank account? A second-chance bank account is a type of bank account that's available for consumers who have had issues with overdrafts or other negative banking activity. This type of account typically doesn't require a ChexSystems report review. What is ChexSystems? ChexSystems is a reporting agency that collects information about consumer banking activity. Banks and credit unions will often review your ChexSystems report when you apply for accounts such as checking or savings accounts. Can you open a bank account if you have a negative balance at another bank? If you have an unpaid negative account balance with one bank, it can hurt your chances of being approved for an account with a different bank. This is because this information will appear on your consumer report with agencies such as ChexSystems. In this situation, you may want to consider a second chance bank account that doesn't require a ChexSystems review as part of the application.

Bottom line

If you struggled with overdraft charges, bounced checks or negative bank account balances, you're likely to have a hard time getting approved for a new bank account. However, second-chance accounts provide an opportunity for a fresh start. There are even second-chance checking accounts available with no overdraft fees, no monthly fees and no minimum balance requirements.

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Why trust CNBC Select?

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every bank account review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best second-chance checking accounts.

Our methodology

To determine the best second-chance checking accounts CNBC Select analyzed U.S. checking accounts offered by online and brick-and-mortar banks. We narrowed down our rankings by only considering checking accounts that don't require a ChexSystems review as part of the application process. We also compared each checking account on other features, including: Minimum balance requirement

Initial deposit requirement

Fees

Nationwide availability

Physical branch locations and/or online accessibility

ATM network

Ease of use and account accessibility All of the accounts included on this list are covered by the Federal Deposit Insurance Corporation (FDIC) and insured up to $250,000. This insurance protects and reimburses you up to your balance and the legal limit in the event your financial institution fails. Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date. *Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.