22 Bank Accounts for Bad Credit of May 2024

Banking

Having a bank account is essential for managing everyday financial transactions, such as receiving salaries, paying bills, and saving for the future. So, when a bank denies your application, it can be frustrating.

A history of unpaid overdrafts or bounced checks can get you blacklisted at most major banks if you’re listed in ChexSystems. However, even with bad credit, you still have options.

Top 10 Bank Accounts for Bad Credit

Here are ten of the best checking accounts for people with bad credit. With just a few clicks, you can open a bank account online in less than 5 minutes with these banks.

U.S. Bank

Our Top Pick

Features & Benefits

  • Up to $700 bonus
  • Minimum opening deposit of $25
  • Monthly service fee: $0 or $6.95
  • Over 40,000 surcharge-free MoneyPass ATMs

U.S. Bank is now inviting new customers to take advantage of a special online promotion:

  • Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account, and complete qualifying activities.
  • Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.
  • Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

The checking account comes with a free debit card and the option to lock or unlock the card if it’s ever lost or stolen.

Plus, you’ll never have to worry about ATM transaction fees at U.S. Bank ATMs or surcharge fees at over 40,000 MoneyPass Network ATMs.

U.S. Bank uses ChexSystems, but it has a history of being more lenient with records than most banks.

As long as you don’t have a history of fraud, or you don’t owe any money to U.S. Bank, you may be able to open a checking account with them.

The minimum opening deposit for this account is just $25, and the monthly service fee is $6.95. However, you can avoid the monthly fee by maintaining a minimum balance of $1,500 or by having a minimum monthly direct deposit of $1,000.

2. SoFi

Our Second Pick
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Features & Benefits

  • Sign-up bonus up to $300 with qualifying direct deposits
  • No monthly fee
  • Earn up to 4.60% APY on savings
  • Over 55,000 fee-free ATMs

The SoFi Checking and Savings account offers a range of advantages, such no overdraft fees, balance requirements, or no monthly fees.

Currently, there’s an attractive limited-time offer – a sign-up bonus that could reach as high as $300 provided you make qualifying direct deposits.

In addition, account holders have access to 55,000 ATMs at no cost via the Allpoint® Network. If you set up direct deposit, you’ll be eligible to earn 4.60% APY on savings and 0.50% on checking accounts.

Those who opt for direct deposit can further benefit from advanced access to their paychecks – up to two days earlier.

3. First Tech Federal Credit Union

Our Third Pick
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Features & Benefits

  • Up to $300 sign-up bonus with direct deposit
  • No minimum balance requirements
  • Earn up to 5.00% APY
  • Over 30,000 fee-free ATMs


First Tech Federal Credit Union offers an attractive banking solution that goes beyond traditional constraints, providing members with a combination of high-yield interest and multiple financial incentives across its platforms.

With the First Tech Rewards Checking & Savings accounts, there are no minimum balance requirements and no monthly maintenance fees. Members can take advantage of a $300 bonus simply by establishing a qualifying payroll direct deposit of $1,000 or more per month for three consecutive months.

These accounts offer competitive interest rates, with the potential to earn up to 5.00% APY on both checking and savings accounts, depending on the balance—significantly higher than many conventional banks.

Additionally, First Tech offers extensive accessibility with over 30,000 CO-OP network ATMs nationwide for fee-free withdrawals.

The credit union also ensures enhanced financial security and flexibility with features like real-time fraud monitoring and free overdraft transfers, contributing to a comprehensive and secure banking experience.

4. Current

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Features & Benefits

  • No minimum balance
  • Overdraft up to $200 with Overdrive
  • 40,000 fee-free Allpoint ATMs in the U.S.
  • Get paid up to two days faster
  • No credit check or ChexSystems

Current is a fintech company, not a bank. The company does not use ChexSystems or pull your credit report, and they have a lot to offer.

With Current, your everyday purchases can now shape your financial future. Simply by swiping your debit card, you can build credit. No loans or credit checks needed. There are also no monthly or annual fees for this service.

A Current mobile bank account includes fee-free overdraft protection of up to $200. You also get free cash withdrawals at over 40,000 Allpoint ATMs with your Current debit card, and there is no minimum balance or hidden fees.

Additionally, you can get paid up to two days early with direct deposit with a Current Premium account. Plus, Current offers up to 4.00% APY with Current Savings Pods.

5. Chime®

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Features & Benefits

  • Over 14.5 million downloads
  • No credit check or ChexSystems
  • No minimum opening deposit
  • Over 60,000 fee-free1 ATMs

With Chime, a negative banking history is not an issue. They offer an award-winning financial app, a checking account with a debit card, and a savings account, all with no credit check.

When you open a Chime Checking Account, you won’t have to worry about monthly maintenance fees, foreign transaction fees, or minimum balance fees.

You can also start building your credit with the Secured Chime Credit Builder Visa® Credit Card7. It’s a secured credit card with no annual fees, no credit checks, and no interest charges1.

With Chime, you get free access to over 60,0001 MoneyPass® and Visa® Plus Alliance ATMs. Plus, you can get your paycheck up to 2 days earlier with direct deposit2. You can also deposit cash for free at over 8,500 Walgreens.

6. GO2bank

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Features & Benefits

  • 4.50% APY on savings
  • Free access to over 19,000 ATMs
  • $5 monthly fee can be waived
  • Poor credit accepted

GO2bank is a neobank provided by Green Dot. You can open an online checking account with subaccounts called vaults, all without requiring a minimum balance.

Furthermore, GO2bank offers a competitive 4.50% APY on savings accounts for up to $5,000 in savings. You can easily access your funds at 90,000 retail locations for cash deposits and 19,000 ATMs for free cash withdrawals.

In addition, you can receive their pay up to 2 sooner and government benefits up to 4 days early with direct deposit.

You can opt for overdraft protection of up to $200 with eligible direct deposits, providing them with peace of mind.

GO2bank also provides the GO2bank Secured Visa Credit Card, which can assist you in building your credit over time through responsible use.

The monthly fee of $5 is waived when you receive payroll or government benefits via direct deposit in the previous monthly statement period.

7. Chase

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Features & Benefits

  • $100 bonus after 10 purchases in 60 days
  • Over 16,000+ fee-free ATMs
  • Over 4,700 branches nationwide
  • $4.95 monthly service fee
  • No credit check or ChexSystems

Chase offers a checking account called Chase Secure Banking that you can apply for without a credit check. The account comes with a Chase debit card that gets you access to over 16,000 ATMs for free.

Some features of this account include free online bill pay, free money orders and cashier’s checks, no overdraft fees, and no minimum opening deposit. However, there is also a monthly service fee of $4.95.

When you open a new account and make 10 qualifying purchases within 60 days, you’ll get a $100 cash bonus.

Account approval is immediate, and the debit card typically arrives within days.

8. Walmart MoneyCard

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Features & Benefits

  • No monthly fee with $500 direct deposit
  • Up to 3% cash back rewards
  • Up to $200 in overdraft protection

The Walmart MoneyCard is a prepaid debit card that acts much like a checking account.

This card has a cash back rewards program, that offers 3% cash back when shopping at Walmart.com, 2% at Walmart fuel stations, and 1% at Walmart stores, up to $75 each year.

Additionally, users can benefit from the overdraft protection feature, which offers peace of mind with three coverage levels, up to $200, for purchase transactions with opt-in and eligible direct deposits.

Another great benefit of the Walmart MoneyCard is the ASAP Direct Deposit feature, which enables users to get their pay up to two days before payday and their benefits up to four days before benefits day with Early Direct Deposit.

You can also earn 2% APY on savings, with chances to win cash prizes each month. The monthly fee of 5.94 can be waived with direct deposit of $500 or more in the previous monthly period.

9. Navy Federal Credit Union

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Features & Benefits

  • No monthly service fees
  • No minimum balance
  • Up to $20 in ATM fee rebates per statement period

If you qualify for membership to Navy Federal Credit Union, you won’t have to worry about them using ChexSystems. To become a member, you need to be either on active duty or retired from the U.S. military.

There are two free checking accounts from Navy FCU, one of which is Active Duty Checking. There’s no monthly fee, but you’ll need to receive direct deposits from the military.

If you do, you’ll get access to those deposited funds one business day earlier than usual. You also get $20 a month in ATM free rebates.

The other free account from Navy FCU is called EveryDay Checking. It’s a basic account that doesn’t come with any direct deposit requirements.

10. Wells Fargo

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Features & Benefits

  • Minimum opening deposit: $25
  • No overdraft fees
  • Liability protection and fraud monitoring

If Wells Fargo declines you for a standard checking account, you may still qualify for their Clear Access Banking account.

This second chance checking account has a monthly fee of $5. The only way to avoid it is if the primary account owner is 13 – 24 years old.

There’s a minimum deposit of $25 to get started. You get access to online bill pay, mobile banking, and over 13,000 ATMs free of charge.

Why You Need a Bank Account

Along with keeping you from accessing basic financial products like checking accounts, a bad credit score can also wreak havoc on your day-to-day life. Here are some reasons why having a bank account is essential:

  • Effortlessly pay bills online, avoiding late fees and streamlining the process.
  • Cash and deposit checks without incurring additional fees.
  • Conveniently withdraw cash from ATMs using a debit card.
  • Gain access to essential banking services, such as checking and savings accounts, money market accounts, CDs, debit and credit cards, loans, and more.
  • Transfer money easily between bank accounts or to other individuals, simplifying transactions and payments.
  • Bypass the inconvenience and high costs associated with check-cashing stores.
  • Eliminate the need for prepaid debit cards, which often come with hefty fees.

Not having a bank account can be costly and negatively impact your credit score. Not only is it inconvenient, but can also be unsafe. Being able to store your money where it’s insured is much better than hiding it elsewhere.

What is a checking account for bad credit?

Checking accounts for bad credit, also known as second chance checking accounts, are specialized financial products designed by banks and credit unions to cater to individuals with poor credit history, prior banking issues, or negative records in ChexSystems. These financial institutions understand that everyone deserves access to essential banking services and a second chance to rebuild their financial footing.

Bad credit checking accounts often come with certain features, such as low or no minimum balance requirements and account monitoring tools, to help customers manage their finances more effectively. Additionally, some banks and credit unions provide financial education resources and personalized support to guide account holders in making informed decisions and improving their financial health.

By offering bank accounts to people with bad credit, financial institutions help customers achieve financial recovery, stability, and eventually, access to more traditional banking products.

How to Get a Bank Account with Bad Credit

To open a bank account with bad credit, you have three options:

  1. Clear up your ChexSystems report.
  2. Apply for a second chance bank account.
  3. Apply at a financial institution that doesn’t use ChexSystems.

Disputing ChexSystems

It’s possible to get out of ChexSystems if you file a dispute with ChexSystems. If you win the dispute, your record will be clean, and you can open a checking or savings account online or at any bank or credit union you choose.

Second Chance Banking

Some banks and credit unions offer their customers a second chance. They’re aware of your bad banking history, but they’re still willing to give you a second chance checking account.

Second chance checking accounts typically come with a monthly maintenance fee and other account fees. However, they usually give you an opportunity to upgrade to a traditional checking account with no monthly fees after 12 months of good account management.

Banks That Don’t Use ChexSystems

While most financial institutions pull your ChexSystems record, there are some banks that don’t use ChexSystems. These banks aren’t necessarily targeting people looking for a bank account with bad credit, they just don’t look at their customers’ banking history. The banks that offer these checking accounts are typically the best for people having trouble getting a bank account.

No matter which option you choose, the convenience of having a checking and savings account will be worth it as it will make your life much simpler.

See also: Credit Unions That Don’t Use ChexSystems

Tips for Choosing the Right Bad Credit Checking Account

When considering a bad credit checking account, it’s important to know what services and features you should expect. These bank accounts are designed to help individuals with bad credit or past banking mistakes, so they often come with specific features to support customers in rebuilding their financial standing. Here are some essential services to look for in a bad credit checking account:

  • Low or no minimum balance required: Many bad credit checking accounts have low or no balance requirements, making it easier to maintain their accounts without the stress of meeting high balance thresholds.
  • Reasonable monthly fees: While some checking accounts for bad credit may have monthly fees, they should be reasonable and transparent. Many online banks don’t have fees, offer to waive these fees, such as through direct deposit or maintaining a specific account balance.
  • Online and mobile banking: Access to online and mobile banking is essential for managing your finances conveniently. These services allow you to monitor your account balance, transfer money, pay bills, and deposit checks remotely, enabling you to stay on top of your finances with ease.
  • Debit card access: Most backs will provide you with a debit card for ATM withdrawals and everyday purchases. Using a debit card can help you avoid expensive check-cashing services or prepaid debit cards with high fees.
  • Overdraft protection: Overdraft protection can help you avoid costly overdraft fees and declined transactions. Some checking accounts offer optional overdraft protection services, such as linking a savings account or a line of credit to cover any overdrafts.

Non-ChexSystems Banks by State

Looking for more information and additional options available in your area? Select your state from the list below to explore your options.

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. Credit Builder card issued by Stride Bank, N.A.

1. Out-of-network ATM withdrawal fees may apply with Chime except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

2. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. Chime 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.

7. The secured Chime Credit Builder Visa® Credit Card is issued 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 credit cards are accepted. Please see the back of your card for its issuing bank.