20 Bank Accounts for Bad Credit for March 2023


Would you like to open a checking account, but you’re worried that your bad credit and past banking history might get in the way? With these issues, it can be difficult to open a new bank account.


Best Bank Account for Bad Credit of 2023

The good news is that bad credit bank accounts can help you get back to banking, no matter how damaged your banking history has become. We’ve provided a comprehensive look at twenty of the best bank accounts for bad credit.

Best Bank Accounts for Bad Credit of 2023

Regardless of your banking history, there are numerous banks and credit unions that offer bad credit checking accounts, all with unique features and benefits.

1. Chase

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

Chase is one of the most popular banks in the U.S. And now, they offer an account called Chase Secure Banking with no credit check, no ChexSystems, and no overdraft fees.

Account holders also get access to over 16,000 fee-free ATMs, free online bill pay, and free money orders and cashier’s checks.

With 4,700 locations across the country, this is an excellent option for anyone who prefers having access to physical branches.

Opening a Chase Secure Banking account comes with a $100 cash bonus when you use the card for 10 purchases within 60 days.

Account approval is immediate and you’ll receive your debit card within days. There is a small monthly service fee of $4.95; however, there is no minimum opening deposit to get started.

2. US Bank

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  • $600 sign-up bonus
  • Monthly service fee can be waived
  • Over 40,000 fee-free ATMs
  • $25 minimum opening deposit

US Bank is now offering the Bank Smartly™ Checking account, a popular choice that can be applied for online in 26 states throughout the U.S.

If you’re based in any of the following states – AR, AZ, CA, CO, IA, ID, IL, IN, KS, KY, MN, MO, MT, NC, ND, NE, NM, NV, OH, OR, SD, TN, UT, WA, WI, or WY – you’re eligible to apply.

By opening a Bank Smartly™ Checking account and completing qualifying activities, you have the potential to earn up to $600. Subject to certain terms and limitations. Offer valid through April 11, 2023. Member FDIC.

The account itself provides a variety of benefits, including a complimentary debit card that can be locked or unlocked if ever misplaced or stolen. US Bank ATMs offer fee-free transactions, as do over 40,000 MoneyPass Network ATMs.

Although US Bank uses ChexSystems, it’s typically known to be more accommodating with its regulations than many other banks. Unless there’s a history of fraud or any money owed to US Bank, opening a checking account is a possibility.

The checking account requires just a $25 minimum opening deposit, with a monthly service fee of $6.95. The monthly fee can be waived by maintaining a minimum balance of $1,500, or by having a minimum monthly Direct Deposit of $1,000.

3. Axos Bank

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  • $100 welcome bonus
  • No monthly service fees
  • 100% reimbursement of ATM fees
  • No credit check

The Rewards Checking account from Axos Bank is a great option for those looking for a bank account with no hidden fees.

The account comes with no monthly maintenance fees, unlimited domestic ATM fee reimbursements, cash back rewards, and even a $100 welcome bonus.

It also earns up to 3.30% APY, which is higher than the average interest rate for checking accounts.

Additionally, you can make unlimited free mobile deposits, and your funds are FDIC insured up to $250,000.

With no overdraft or non-sufficient fund fees, this account is great for those who may have had trouble with those fees in the past.

The account also has no minimum balance requirements and only requires a $50 deposit to open.

Axos Bank doesn’t use ChexSystems or credit reports when opening a Rewards Checking account.

4. Chime

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  • No minimum opening deposit or monthly service fee
  • Over 60,000 fee-free1 ATMs
  • Get paid up to 2 days early with direct deposit2
  • No credit check or ChexSystems

With Chime®, a bad credit score is no longer a deal-breaker. They offer an award-winning financial app and debit card with no credit check.

You can open a Chime Checking Account online with no monthly fees. And by that, we mean no overdraft fees, no monthly maintenance fees, no foreign transaction fees, and no minimum balance fees—ever.

Chime also offers a new way to build your credit with the Chime Credit Builder Secured Visa® Credit Card7. It’s a secured credit card with no annual fees, no credit checks, and no interest1 charges.

They offer over 60,000 fee-free1 MoneyPass® and Visa® Plus Alliance ATMs. Plus, you can get your paycheck up to 2 days earlier with direct deposit. You can also deposit cash for free at over 8,500 Walgreens.

Chime is definitely the best option on this list.

5. Revolut

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  • No monthly service fee
  • Earn up to 3.25% APY on savings
  • Free withdrawals at more than 55,000 ATMs
  • Commission-free stock trading

Revolut is a financial app that comes with a prepaid debit card from Visa or Mastercard. However, you don’t need to wait for the physical card to get started. You can use the digital card right away on Apple Pay or Google Pay.

The Revolut debit card gets you fee-free access to over 55,000 ATMs, and no cost out-of-network ATM withdrawals up to $1,200 per month. You’ll also get 10 zero-fee international transfers per month.

The account comes with cashback, discounts from top brands, a savings account, and more. Plus, your funds are insured by the FDIC for up to $250,000.

* Please note that Revolut is frequently updating its products and features, see the Revolut Terms and Conditions for the latest offerings.

* Revolut is a financial technology company. Banking services provided by Metropolitan Commercial Bank, (Member FDIC).

6. Current

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  • No credit check or ChexSystems
  • No minimum opening deposit or maintenance fees
  • Get paid up to 2 days faster
  • Overdraft up to $200 without any overdraft fees

Current is one of the fastest-growing mobile banking solutions in the U.S., with over one million members. However, Current is a financial technology company, not a bank. Most importantly, Current does not use ChexSystems or pull your credit report.

Some features of the Current mobile banking account include fee-free overdraft protection of up to $100, 40,000 fee-free Allpoint ATMs, and no minimum balance or hidden fees.

You can also get paid up to two days sooner with direct deposit and earn up to 15x points, and get cashback.

7. GO2bank

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  • 4.50% APY on savings up to $5,000
  • No minimum opening deposit
  • Build credit with no annual fees
  • Overdraft protection up to $200

GO2bank is a neobank developed by Green Dot, a financial technology company. The bank offers a checking account with savings subaccounts known as vaults, and the best part is that there is no minimum balance required to open an account online.

The savings account offers an attractive 4.50% APY on savings up to $5,000. Additionally, you can deposit cash at any of the 90,000 retail locations or withdraw funds from any of the 19,000 fee-free ATMs. You can also use the mobile app’s check deposit feature to deposit checks directly into your checking account.

With direct deposit, you can even receive your pay up to 2 days early or your government benefits up to 4 days early. Opt-in for overdraft protection and be eligible for up to $200 in coverage with eligible direct deposits.

Responsible use of the GO2bank Secured Visa Credit Card can also help you build your credit over time.

If you receive a payroll or government benefits direct deposit in the previous monthly statement period, your monthly fee is waived. Otherwise, it is only $5 per month.

8. Albert

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  • No minimum balance requirement
  • Cash advances up to $250
  • No maintenance fees
  • Free ATMs at over 55,000 locations

Albert is an online fintech banking platform that allows users to open an account without any minimum deposit requirement. When you open a new cash account and set up direct deposit with Albert, you can earn a $150 welcome bonus.

Additionally, users receive a free Mastercard debit card with cashback rewards and have access to the “Ask a Genius” feature on the Albert app, which is available 24/7 for any personal finance related questions.

With Albert, you can also get your paycheck up to 2 days earlier by setting up direct deposit and have access to 55,000+ ATMs for fee-free cash withdrawals as a Genius subscriber.

Furthermore, there are no minimum balance requirements and no monthly maintenance fees. All funds are insured up to $250,000 through federally backed FDIC protection.

9. TD Ameritrade

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  • No monthly fee
  • Unlimited fee refunds for U.S. ATMs
  • Free TD Bank debit card
  • Free checks and unlimited check-writing capabilities

TD Ameritrade offers a brokerage account with a comprehensive cash management checking account. As a client, you get unlimited check writing. Once you open the brokerage account, you can complete the checking account application online.

A Cash Management account also gives you access to free online bill pay, as well as a free debit card with nationwide rebates on all ATM fees.

In addition, there are no monthly fees if you maintain a $100 minimum daily balance. However, it’s important to note that a TD Ameritrade checking account is not FDIC-insured or bank guaranteed.

10. SoFi

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  • Up to 4.00% APY on savings
  • Sign up bonus up to $250
  • No monthly fees
  • No overdraft fees

With the SoFi Checking and Savings account, you won’t have to worry about being charged any overdraft fees, minimum balance fees, or monthly fees.

Plus, it offers 55,000+ fee-free ATMs within the Allpoint® Network. Similar to Chime and Current, you can get your paycheck up to 2 days sooner when you set up direct deposit.

You’ll also get a 1% APY on your checking and savings accounts and up to 15% cash back at local establishments with your SoFi debit card.

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What is a bank account for bad credit?

A bank account for bad credit is a type of account designed for people with negative banking records. These people are usually turned away from traditional banks and credit unions because of past instances of bounced checks, overdrawn accounts, or unpaid non-sufficient fund fees.

Fortunately, some financial institutions provide bad credit bank accounts that offer basic banking services such as a debit card, online banking access, and check writing privileges. Direct deposit is also available with some of these accounts, which makes it easy to access your income sources.

Bad credit checking accounts are typically easy to open, with minimal fees and most importantly, no credit checks or ChexSystems reports.

What criteria do banks use to evaluate new account applications?

Opening a bank account can be a straightforward process, but it’s not uncommon for applicants to be turned down or offered limited options. That’s because banks and credit unions have criteria they use to determine who qualifies for a bank account and what type of account they can offer.

One of the most important factors that banks consider when you apply for a new account is your banking history. To assess this, most banks will check your ChexSystems report, which is a database of your past banking transactions. This report includes information such as any unpaid fees or overdrafts, closed accounts due to fraudulent activity, and other negative marks.

If you have a negative history in ChexSystems, such as unpaid fees or a history of overdrafts, it can be more challenging to open a new bank account. In some cases, the bank may decline your application altogether or offer you a limited account that doesn’t allow you to write checks or use a debit card.

Another factor that banks make consider is your credit history. Some banks may pull your credit report from the three major credit bureaus Equifax, Experian, and TransUnion, but most don’t.

Your credit report is typically accessed by credit card issuers and lenders to assess your creditworthiness when you apply for loans or credit cards. But for bank accounts, your ChexSystems record is generally more important.

What is ChexSystems?

ChexSystems is a consumer reporting agency that collects user data from banks and credit unions. One of the things this data is used for is to create consumer reports that financial institutions can use to screen customers.

When attempting to open a new bank account, most financial institutions will pull your ChexSystems report. This report will show your past banking history including overdrafts, bad checks, check fraud, negative balances, or excessive withdrawals.

If you’ve had any of these issues in the past five years, it will likely be on your ChexSystems record. Fortunately, there are several reputable banks that don’t use ChexSystems or run a credit check to qualify customers. There are also numerous banks that offer second chance checking accounts for people with bad credit.

Can you open a bank account with no credit check?

Opening a no-credit-check bank account is easier than ever, with plenty of reliable banking services to choose from. There are two types of checking accounts for people with bad credit: banks that don’t use ChexSystems and second chance checking accounts.

Banks that Don’t Use ChexSystems

Some banks simply do not use ChexSystems to evaluate new accounts. These banks offer no-credit-check bank accounts for people with bad credit or a negative banking history.

The good news is that these accounts come with the same features as regular bank accounts offered to everyone else. You can expect to have access to online banking, direct deposit, and a debit card.

Second Chance Checking Accounts

With a second chance bank account, the bank may conduct a credit check or refer to ChexSystems, but they’re willing to give you a second chance regardless of your banking history. Second chance bank accounts usually come with a monthly maintenance fee.

The best second chance checking accounts still have some of the same features as ChexSystems banks and credit unions, such as overdraft protection, online banking, and bill pay. Additionally, it should be possible to upgrade to a standard checking account after demonstrating responsible banking habits.

What to Look for in a Checking Account for Bad Credit

When searching for the best checking accounts for bad credit, you’ll find many options to choose from. For that reason, it can be helpful to know what features are generally available, and which ones are most important to you.

Here’s a list of some of the most significant details you might want to keep in mind when looking at bank accounts for bad credit.

  • No ChexSystems or Second Chance accounts
  • Minimum opening deposit requirements
  • Minimum balance requirement
  • Monthly maintenance fees & miscellaneous account fees
  • Card options such as debit card, secured cards, prepaid debit cards, etc.
  • Spending limits on debit card purchases
  • Cashback rewards
  • Fees for cash withdrawals
  • Mobile banking options
  • An easy way to transfer money between accounts

Bottom Line

Having poor credit doesn’t mean you can’t get a bank account. But, it does mean that your selection will be somewhat limited. We also show you how to clear your name and remove yourself from ChexSystems so that you can get a bank account anywhere.

It may take some time to get your name removed. Meanwhile, some of the banks we’ve listed above are just as good, if not better, than any account on the market right now. So, it’s a good idea to start with one of those.

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. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.

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