Woodforest National Bank offers one of the few true second chance checking accounts at a branch-based bank. The account costs $9.95 to $11.95 per month, requires $25 to open, and is built for people with a ChexSystems record.
What Is Woodforest Second Chance Checking?
This account exists for people who got denied a regular bank account. Woodforest checks ChexSystems when you apply. The difference is that a past record doesn’t automatically disqualify you. The account gives you a real debit card, online and mobile banking, and access to physical branches.
Woodforest is a privately held bank based in The Woodlands, Texas. It runs more than 730 branches across 17 states, and most of them sit inside Walmart stores. That’s the bank’s defining feature. If you shop at Walmart, there’s a good chance your bank is already inside it.
Fees and Requirements
Here’s what the account costs, straight from Woodforest’s current disclosures:
- Minimum to open: $25
- Account setup fee: $9, charged one time
- Monthly maintenance fee: $11.95, or $9.95 with a monthly direct deposit
- Interest: None
- ATM fees: Free at Woodforest ATMs, $2.50 per withdrawal at other ATMs
- Overdraft item fee: $32 each time the bank pays an item into overdraft
The monthly fee is the main drawback. At $9.95 to $11.95, this is one of the more expensive second chance accounts around. You’re paying for branch access and a path back into traditional banking.
Woodforest also lists a newer Woodforest Plus+ Second Chance Checking option. With direct deposit, its monthly minimum balance fee drops to $3.95. Ask about it at the branch if you plan to set up direct deposit.
Who Gets Approved?
Woodforest pulls your ChexSystems report when you apply. The Second Chance account is designed to approve people that report would normally block, including those with past overdrafts and closed accounts.
Approval is not guaranteed. Like most second chance programs, severe records can still get declined. Fraud markers on your report are the most common dealbreaker. If Woodforest turns you down, ask the banker why, then check our guide on how to get out of ChexSystems before your next application.
How to Open an Account
You have to open this account in a branch. Woodforest lets you open its standard checking and savings accounts online, but Second Chance Checking is not on that list. Bring your ID and $25 to any location.
The upside of the Walmart setup is the hours. Many Woodforest branches are open evenings and weekends when regular banks are closed.
Where Woodforest Is Available
Woodforest operates in 17 states: Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia, and West Virginia.
Texas has the largest concentration by far. If you live outside these states, this account isn’t an option, but our second chance checking guide lists accounts you can open from anywhere.
How Woodforest National Bank Compares to Other Second Chance Checking Accounts
Woodforest National Bank’s Second Chance Checking stands out for its extensive branch network and accessibility. However, it’s worth considering how it compares to other second chance checking accounts from well-known banks like Wells Fargo and Chase, as well as online options.
Monthly Fees and Maintenance Costs
Woodforest charges a $9 monthly maintenance fee, which can be reduced to $7.50 with direct deposit. Wells Fargo’s Clear Access Banking has a $5 monthly fee, which is waived for account holders between 13–24 years old. Chase Secure Banking has a flat $4.95 monthly fee, with no option to waive it. While these fees are lower than Woodforest’s, neither Wells Fargo nor Chase offer the option to reduce the fee with direct deposit.
Overdraft Protection and Flexibility
Woodforest offers overdraft protection through a linked savings account or an Overdraft Line of Credit. In contrast, Wells Fargo Clear Access Banking doesn’t allow overdrafts at all, helping you avoid extra fees, while Chase Secure Banking also doesn’t have any overdraft options, making it a simple, fee-free solution for those who want to avoid overdrafts entirely. This is different from online alternatives like Current, which offers fee-free overdraft protection up to $200.
Branch and ATM Access
One of Woodforest’s strongest advantages is its over 700 branches and access to more than 37,000 ATMs through its partnerships. In comparison, Wells Fargo has over 8,000 branches and access to more than 12,000 ATMs nationwide, while Chase offers over 4,700 branches and more than 15,000 ATMs nationwide.
Each of these banks provides extensive networks for those who prioritize in-person banking. However, for customers who don’t need physical branches, online banks like Chime, Current, and SoFi offer fee-free access to large ATM networks, though without branch locations.
Rebuilding Banking History
Woodforest’s Second Chance Checking is designed to help customers rebuild their banking history. Similarly, Wells Fargo’s Clear Access Banking and Chase Secure Banking accounts are also aimed at customers looking to regain control of their finances.
However, for those interested in additional perks, accounts like Chime’s SpotMe offer a chance to build credit through debit transactions, without a credit check or fees, providing more tools for financial recovery.
In summary, Woodforest National Bank is a solid option for those who value branch access and flexible overdraft protection, but if lower fees or the simplicity of no overdraft charges are more important, Wells Fargo, Chase, or online-only accounts like Current and Chime may be worth considering.
What are some alternatives to Woodforest National Bank Second Chance Checking?
SoFi
Features & Benefits
- Sign-up bonus up to $400 with qualifying direct deposits
- No monthly fee
- Earn up to 3.30% APY on savings
- Over 55,000 fee-free ATMs
Current
Features & Benefits
- Build credit just by using your debit card
- No minimum balance or monthly fees
- 40,000 fee-free Allpoint ATMs in the U.S.
- Get paid up to 2 days faster
Bottom Line
Woodforest Second Chance Checking is the branch-access play. You pay more per month than almost any alternative, and in exchange you get a real bank inside Walmart, with human tellers, in 17 states.
For people who deal in cash or just want to rebuild with a traditional bank, that trade can be worth it. For everyone else, the fee-free online options below make more sense.
Frequently Asked Questions
Does Woodforest use ChexSystems?
Yes. Woodforest checks ChexSystems on every application. The Second Chance account is built to approve people despite a negative record, not to skip the check.
Can I open Woodforest Second Chance Checking online?
No. Woodforest requires you to open this account at a branch. Its standard accounts can be opened online, but not this one.
How much does the account cost?
$25 to open, a one-time $9 setup fee, and $11.95 per month. The monthly fee drops to $9.95 with a monthly direct deposit.
Can I upgrade to a regular account later?
Woodforest offers several standard checking accounts. Ask your banker about converting once your account history is in good standing. Requirements vary, so get the specifics at your branch.
