Banks That Offer a Second Chance Checking Account

After getting through a difficult financial time, many consumers find themselves in need of a new checking account. Maybe their previous account was overdrawn and charged off or it's possible that they had to close the checking account due to bankruptcy. Finding a bank that will work with consumers who have had problems in the past may be difficult, but some banks do offer second chance checking accounts for a fresh financial start.


BBVA Compass

BBVA Compass is the 15th largest commercial bank in the United States and provides services through bank locations throughout the Sunbelt region. The bank offers checking account options for those whose negative history has caused them to be turned down by other banks. The Basic Checking account offered by BBVA Compass is a second chance account that features online banking and unlimited check writing. To open the account, applicants must have an initial deposit of at least $25. The account comes with a Visa check card, no minimum balance requirement and has a monthly service charge of $7.95.


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Liberty Savings Bank

Liberty Savings Bank, established in 1889 in Ohio and now with branch locations in Colorado, South Carolina and Florida, offers a fresh start checking account known as Clean Slate Checking. Consumers who apply for and are denied a regular checking account may have the opportunity to open a Clean Slate account. The account has no minimum balance requirements and comes with tools that will help manage the account while building a history of money management. After 12 consecutive months with no Non-Sufficient Funds fees, account holders can request to have the account converted to a standard Liberty checking account. Exact fees and opening deposits are available upon request.


First American Bank

First American Bank, headquartered in Chicago, offers the Fresh Start checking account program. The bank designed it to help consumers save money and time otherwise spent cashing checks and purchasing money orders. Consumers will receive free access to online banking and bill pay as well as bank-by-phone services. The account also comes with a free MasterCard debit card, unlimited check writing and no minimum balance requirement. The Fresh Start checking account requires a minimum of $50 to open the account and has a monthly fee of $9.95.