Best Second-Chance Bank Accounts in 2025

Opening a new bank account can be challenging if you have a negative ChexSystems report. ChexSystems is a credit reporting agency that collects information about bank accounts. Specifically, it tracks negative information, including accounts closed due to unpaid fees and accounts with a history of frequent returned checks.

Second-chance bank accounts can help you get a fresh start financially. A second-chance account is designed for people who have been denied a bank account elsewhere. Read on to learn which banks offer the best second-chance accounts right now.

Table of Contents

1. Chime
2. Varo
3. Wells Fargo
4. What is a second-chance bank account?
5. What is ChexSystems?
6. Why were you denied a bank account?
7. What to do if you’re denied
   1. Alternatives
8. FAQ

Chime

Best for Checkless Checking

Learn More

---

Why we like Chime Fee-free Banking

• No credit check or ChexSystems check
• No monthly fees, overdraft fees, or foreign transaction fees
• No minimum balance required

• Chime doesn’t offer traditional paper checks
• Doesn’t hurt your credit score, but won’t help it either

Account types	Second-chance checking and high-yield savings
Min. opening deposit	None
Monthly fee	None
ATM network	47,000+ fee-free MoneyPass, Allpoint, and Visa Plus Alliance ATMs
Uses ChexSystems?	No

Chime combines second-chance checking and high-yield savings in one convenient package. No credit check is required, and your ChexSystems report doesn’t affect your ability to get an account. You only need to be 18 or older, have a valid Social Security number, and a valid U.S. address to open a Chime second-chance account. 

You don’t need to meet a minimum opening deposit or minimum balance requirement to get started. Chime doesn’t charge monthly fees, overdraft fees, or foreign transaction fees. You can earn a super-competitive 3.75% APY on savings balances, and Chime offers an automatic savings feature to help you get your finances back on track. 

If you need to withdraw cash, you can access more than 47,000 ATMs fee-free. And if you need to deposit cash, you can do that at more than 85,000 retail locations. You can use your Chime debit card to make purchases online or in stores anywhere Visa is accepted.

Varo

Best for Rebuilding Credit

Learn More

---

Why we like Varo Bank Account

• Earn cash back on eligible purchases
• No monthly fees, overdraft fees, or cash deposit fees
• Build credit with a linked Varo Believe card

• Other banking fees may apply
• Savings accounts are offered separately

Account types	Checking, online savings, high-yield savings
Min. opening deposit	None
Monthly fee	None
ATM network	40,000+ fee-free Allpoint ATMs
Uses ChexSystems?	No

Varo offers checking for all, with no ChexSystems report required. You can open an account even if you have bad credit or have been denied a checking account elsewhere. There’s no minimum deposit requirement and no monthly fees or overdraft fees to worry about.

You can’t build credit directly with a Varo second-chance account, but you could with the Varo Believe Card. You can qualify for this card if you have:

• A Varo checking account with money in it
• No outstanding balances due for Varo cash advances
• Incoming deposits of $200 or more over the last 31 days

All the activity in your Varo Believe account is reported to three major credit bureaus, helping you to establish or reestablish a good credit history. You can also build savings with Varo and earn competitive rates. If you need to add cash to your account, deposits are free at CVS locations. 

Wells Fargo

Best for Branch Banking

Learn More

---

Why we like Wells Fargo Clear Access

• Low opening deposit requirement
• Manage your account online or at a branch
• Also suitable for teens or anyone needing a first bank account

• Monthly maintenance fee may apply
• Smaller ATM network

Account types	Checking, savings
Min. opening deposit	$25
Monthly fee	$5
ATM network	10,000+ Wells Fargo ATMs
Uses ChexSystems?	No

Wells Fargo Clear Access Checking is a second-chance option for people who prefer traditional banking. ChexSystems is not required to open an account; if you’re 18 or older, you can get started online. Students can also open this account, but they’ll need to visit a branch with a parent or guardian if they’re under 18. 

There’s a $25 minimum opening deposit, but no daily minimum balance requirement. You’ll pay a $5 monthly maintenance fee unless you:

• Are younger than age 24
• Have a qualifying direct deposit of $250 or more (for accounts opened after October 25, 2025)
• Have a qualifying direct deposit through the Wells Fargo Worldwide Military Banking program

Overdraft services are not offered with this account, so you’ll never pay overdraft fees, but transactions may be declined if you don’t have enough money in your account to cover them. If you need to withdraw or deposit cash, you can visit a Wells Fargo branch or one of 10,000+ Wells Fargo ATMs.

What is a second-chance bank account?

Second-chance bank accounts are designed for people who have been denied an account because of a negative ChexSystems report or for any other reason. These accounts help people who might otherwise be excluded from traditional bank services stay connected to their money. 

A second-chance account works like other bank accounts, in that you can use them to:

• Pay bills
• Make purchases with a linked debit card
• Get paid via direct deposit
• Deposit cash or checks

Differences between second-chance accounts and other checking accounts usually lie in the fees and range of features offered. You can find second-chance accounts at traditional banks, online banks, and credit unions.

What are the benefits of a second-chance bank account?

Second-chance accounts offer several advantages, but they aren’t identical. Here’s what makes them attractive:

• Second-chance accounts give you the basic tools you need to manage your money, including a debit card and online/mobile banking access. 
• They make banking accessible to people who need a fresh start financially, with no credit check required.
• Minimal fees and low opening deposit requirements reduce barriers to entry and make it easier to stay on top of your money.
• Some second-chance accounts offer built-in savings or credit-building features.

What are the limitations of a second-chance bank account?

While second-chance banking has plenty of positives, here are the main drawbacks to consider. 

• You could still be denied for a second-chance account if the bank uses ChexSystems for approval. 
• Second-chance accounts may offer fewer features or benefits than traditional checking accounts. 
• Some second-chance accounts charge monthly maintenance fees, with few options for waiving them. 
• You may need to spend time researching second-chance accounts to find a bank that offers them.

What is ChexSystems?

ChexSystems is a nationwide consumer-reporting agency that’s governed by the Fair Credit Reporting Act (FCRA). Banks can use this tool to decide whether to approve you for a new account. ChexSystems collects information about bank accounts, including reports of:

• Forcibly closed checking or savings accounts
• Returned checks reported to Certegy Payment Solutions LLC
• Inquiries that have been made about you by banks
• Check orders you’ve placed

ChexSystems doesn’t collect the type of information that would affect your credit scores, like bill payment history or credit usage. It also doesn’t report any accounts you close voluntarily, with no negative account history. 

Negative information on your ChexSystems file can stay there for five years. If you owe a bank money and pay it off, the bank must report the payment to ChexSystems. However, that won’t remove the account history from your report until the five-year window closes.

Reasons you could be denied a bank account

You could be denied a bank account for several reasons; it all goes back to what’s in your banking history. Keep in mind that ChexSystems is just one company that reports negative banking history information; CrossCheck, Early Warning Services, and TeleCheck perform a similar function. 

Common reasons for denial include:

• Unpaid negative balances resulting from fees, which lead to the bank closing your account 
• Having a history of writing bad checks that your account balance couldn’t cover
• Owning a joint bank account with someone who has a history of unpaid fees or returned checks

Checking your ChexSystems report (or your reports with other bank credit reporting bureaus) before you apply for an account can help you spot potential roadblocks that might lead to a denial. You can request a free copy of your ChexSystems reports every 12 months, online or by mail. 

What to do if you’ve been denied a bank account

If you’re denied a bank account, the first step is getting a copy of the credit report that was used to deny you. You can ask the bank which reporting bureau they used and then reach out to that organization to request a copy of your report. 

Once you have your report:

• Review it to learn why you were denied a bank account
• Check to see how long the negative information will stay on your credit report
• Consider whether it might be worth it to pay off any outstanding fees or overdraft balances

From there, you can explore your banking options. Second-chance accounts might be at the top of your list, but you may also consider credit unions. Plenty of credit unions don’t require ChexSystems, but you’ll need to meet membership requirements in order to join. 

If you still can’t get approved for a second-chance account, weighing your alternatives is the next step.

Second-chance bank account alternatives

It’s possible to manage your money without a checking account. Here’s what you might consider:

• Prepaid debit cards. Prepaid debit cards let you load money onto your card and spend it as you like. You can use a prepaid card to pay bills, buy groceries, or even shop online. The downside is that prepaid cards may charge reload fees or monthly fees that can eat into your balance. 
• Payment apps. Mobile payment apps like Cash App and Venmo let you spend with a debit card, and you can add cash to your account at participating retailers. You don’t need a bank account to use them, and you could set up direct deposit to either app. However, both are frequent targets of scams, which could put your money at risk.
• Check cashing services. Check cashing services can cash checks for you even if you don’t have a bank account. You can walk away with money in hand, but you might pay a substantial fee. And if you need to pay bills, that might be hard to do if your billers don’t accept cash. 

Bottom line? A second-chance checking account can make your life easier when you need to pay bills, buy things, or get paid.

FAQ

What do you need to open a second-chance bank account?

Generally, you need to be 18 or older and have a valid Social Security number to open a second-chance bank account. Banks may ask for a valid, government-issued ID. You’ll also need a minimum deposit if one is required.

Can a second-chance bank account help you qualify for a regular bank account?

A second-chance account could help you eventually get a regular bank account with responsible use. Remember that negative information stays on your ChexSystems report for five years.

What is the easiest bank account to get approved for?

No one bank account is the easiest to get approved for. However, Chime and Varo are two examples of accounts that you can qualify for without ChexSystems required.