Second Chance Checking with No Opening Deposit


Managing your finances requires a reliable checking account. But what happens when past financial issues lead to denial?

Not to worry, there’s a solution. Second Chance Checking is an opportunity for individuals facing financial difficulties to regain control and improve their banking history.

With no opening deposit required, numerous banks and credit unions now provide this chance for a fresh start. This article will uncover the top second chance checking accounts, and where to find accounts with no deposit needed.

9 Second Chance Checking Accounts with No Minimum Opening Deposit

1. SoFi

Our Top 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

With the SoFi Checking and Savings account, you get a wealth of advantages, such as no overdraft fees, no balance requirements, or monthly charges.

SoFi is currently offering an attractive sign-up bonus for a limited time. You can get up to $300 with qualifying direct deposits.

Account holders also benefit from complimentary access to 55,000 ATMs via the Allpoint® Network. Another benefit of direct deposits is you become eligible for an annual percentage yield (APY) of 4.60% on savings and 0.50% on checking accounts.

Adding even more value for direct deposit users, you could receive your paychecks up to 2 days early. Furthermore, use your SoFi debit card at local businesses, and you could earn cash back of up to 15%.

2. Current

Our Second Pick
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Features & Benefits

  • No minimum opening deposit
  • Fee-free overdraft up to $200 with Overdrive
  • 40,000 fee-free Allpoint ATMs in the U.S.
  • Get paid up to 2 days faster

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

A Current mobile bank account includes fee-free overdraft protection of up to $200. Account holders also get access to over 40,000 fee-free Allpoint ATMs with your Current debit card, and there are no hidden fees.

You can also 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.

3. Chime®

Our Third Pick
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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®, bad banking history is not an issue. They offer an award-winning financial app, a debit card, and a credit builder Visa® credit card, all with no credit check.

The Chime Checking Account is free and has no monthly fees:

  • no monthly maintenance fees
  • no foreign transaction fees
  • no balance requirements

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 charges.

Chime has over 60,0001 fee-free 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.

You can see why Chime is our #1 choice.

4. GO2bank

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Features & Benefits

  • No ChexSystems or credit check
  • 4.50% APY on savings
  • Over 19,000 fee-free ATMs
  • $5 monthly fee can be waived

GO2bank is a neobank offered by Green Dot, a well-established financial technology company. Customers can open a checking account featuring subaccounts known as vaults without a minimum balance requirement.

GO2bank provides an attractive 4.50% APY on savings accounts for balances of up to $5,000. Access to funds is made easy through cash deposits at 90,000 retail locations and fee-free ATMs at 19,000 locations.

Additionally, customers can receive their pay up to 2 days in advance and government benefits up to 4 days early via direct deposit.

You can also opt for overdraft protection up to $200 with eligible direct deposits.

GO2bank offers the GO2bank Secured Visa Credit Card, which can assist customers in building their credit over time through responsible use.

The $5 monthly fee is waived when you receive payroll or government benefits through direct deposit.

5. 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. The account comes with a Chase debit card that gets you access to over 16,000 ATMs for free.

Some features of this checking 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 Chase Secure Banking 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.

6. Navy Federal Credit Union

Features & Benefits

  • 4 free checking accounts to choose from
  • 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, 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 deposit 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.

7. Capital One 360

Features & Benefits

  • No minimum deposit
  • No monthly maintenance fees
  • Mobile direct deposit
  • 70,000 fee-free ATMs

Opening a Capital One 360 checking account comes with many benefits, one of them is the security it offers. With FDIC insurance and fraud coverage, you can bank with peace of mind.

Another great feature is the flexibility when it comes to overdraft options, you can choose one that works for you without having to worry about any fees.

Additionally, you can access your money up to 2 days sooner than payday with early paycheck. Another convenient option is the ability to add cash to your checking account at any CVS location.

8. Varo

Features & Benefits

  • No monthly fees
  • No minimum opening deposit
  • Online banking with mobile deposits and bill pay
  • 55,000+ fee-free ATMs

A free checking account from Varo comes with a variety of perks, including a free debit card, and early access to your pay with direct deposit. You also have the option to add a high-yield savings account with automatic savings tools.

Varo also has no minimum opening balance and no monthly fee. Plus, you’ll have access to a network of over 55,000 Allpoint ATMs. This makes Varo a great choice for anyone looking for a checking account with no deposit required and no monthly fee.

9. Huntington National Bank

Features & Benefits

  • No monthly fees
  • No minimum opening deposit
  • Online banking with mobile deposits and bill pay
  • 55,000+ fee-free ATMs

Huntington’s Asterisk-Free Checking offers the best of both worlds – no cost to open and no monthly maintenance fee. However, you still get with access to features like a user-friendly mobile app and tools for improving financial well-being.

With direct deposit, you can even get paid up to two days early.

If you ever accidentally overdraw your checking account, the $50 Safety ZoneSM protects you from overdraft fees for amounts $50 or less. For larger overdrafts, 24-Hour Grace® allows you extra time to resolve the issue and avoid a fee.

With Huntington, you get the convenience of no-cost checking and the peace of mind of added financial protections.

Can I open a bank account with bad credit?

Having bad credit can make it seem like getting approved for a checking or savings account is an impossible feat. But, fear not! There are still solutions available for those in need of managing their finances.

Second Chance Checking accounts are designed specifically for individuals who have struggled in the past, and can offer a lifeline. Some of them may lack some perks of traditional accounts. But, most of them have the same essential features, and some of them (like the ones listed above) offer the best benefits and features available today.

Can I open a bank account with no opening deposit?

It’s entirely possible to start managing your finances without having to put down an initial deposit. In fact, many banks and credit unions offer checking and savings accounts that don’t require a minimum deposit. This can be especially beneficial for people who are just starting out, or who may not have a lot of money available to put into an account right away.

However, keep in mind that while some institutions may not require an opening deposit, they may impose other fees or restrictions. For instance, they may charge a monthly maintenance fee unless specific conditions are met, such as maintaining a minimum balance or enrolling in direct deposit. Before opening an account, thoroughly review its terms and conditions to ensure that it aligns with your financial goals.

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Steps for Opening a Second Chance Checking Account with No Deposit

Here are the steps to follow to open a second chance checking account with no deposit:

  1. Start by researching different banks and credit unions that offer second chance checking accounts without an opening deposit.
  2. Gather the necessary documentation, such as proof of identification, proof of income, and proof of residency. Each financial institution may have different requirements, so be sure to check their specific list of necessary items.
  3. Submit your application, either online or in person, and await approval. The application process is generally quick and easy, taking only a few minutes to complete.
  4. After a brief wait, your second chance checking account will be approved and ready to use. With online banks, approval is often immediate, other times you may have to wait a few business days,
  5. Finally, fund your account and start managing your finances. Unlike traditional checking accounts, many second chance checking accounts with no deposit won’t require you to deposit money to activate it. Get a new start today with a second chance checking account.