Blog

second-chance-banking
Banking

Second Chance Banking: 2020 List of Banks in 50 States for New Accounts

Second chance banking is available in all 50 states. It's a great option for people denied a bank account due to bad credit, Early Warning Services or ChexSystems.

According to the National Consumer Law Center, more than 80% of banks and credit unions use consumer reports from agencies such as ChexSystems or Early Warning Services to help them decide whether to approve bank account applicants.

Benefits of second chance banking 

If you're conducting financial transactions without a bank account, you can rebuild your banking history with second chance banking. Having a bank account can be taken for granted, until you don’t have one.

The hassle of a check cashing store, loading money onto a prepaid card, the fees; not to mention the lack of access to financial products like personal, mortgage or auto loans can impede you from making major purchases.

Nationwide second chance banking

BBVA

BBVA Online Checking available online in ALL states. This account is designed for customers on the go. Manage your account, make transfers, pay bills and deposit checks, view balances, and more — all directly from your smartphone, computer or tablet. Plus, as a perk, you have access to a team of remote bankers you can contact via text, email, or phone. Customers get FREE access to over 55,000 Allpoint ATMs nationwide where cash and checks can be deposited. Use your Visa debit card for everyday purchases to earn cash back.


BBVA Online Checking Features

  • Apply with only $25 opening deposit
  • No Monthly Service Fee
  • Complimentary Online Banking and Mobile Banking, Bill Pay and Online Statements
  • Mobile check deposits
  • Unlimited check writing
  • Send, request and receive money using email or mobile number with Popmoney
  • No ATM Fees at any BBVA or 55,000 Allpoint® ATMs nationwide
  • Cash back rewards checking
  • BBVA USA, Member FDIC

OneUnited Bank

U2 E-Checking available online in ALL States plus they have branches in CA, FL, MA. Minimum opening deposit is $100. Monthly service fee is $12.00. Customers enjoy second chance checking with free online & mobile banking, get cash surcharge free at over 30,000 ATMs nationwide, deposit checks through the mobile app.


U2-Checking Features

  • Open with a $100 deposit
  • Free Online Banking and Mobile Banking, Bill Pay and Online Statements
  • Mobile check deposits
  • Obtain Cash, Surcharge Free at Over 30,000 ATMs
  • Send, request and receive money using email or mobile number with Popmoney

Radius Bank

Essential Checking available online in all states. Minimum opening deposit is $10.00. Monthly service charge is $9.00. Online and mobile banking with direct deposit, free bill payment and customized alerts.

Wells Fargo

Opportunity Checking available in 39 states and Washington, D.C. Minimum opening deposit is $25. Monthly service fee of $10.00. There are three ways you can avoid the monthly fee: (1) Make 10 or more debit card purchases/payments, (2) Have direct deposits totaling $500 or more, or (3) Maintain a $1,500 minimum daily balance.

Memory Bank

Memory Bank Memory Builder Checking requires a $50 minimum deposit to open account. The $8.95 monthly service fee can be reduced to $6.95 if your account meets select criteria. There is an opportunity to upgrade the account after 12 months of responsible banking.

Bank of America

The Safe Balance Account at Bank of America is a type of Second chance banking account where customers are not allowed to write checks. The account comes with a debit card that can be used to make purchases, withdraw cash, pay bills or pay individuals. $25 is required to open the account and the monthly maintenance fee is $4.95.

Regional second chance banking

American Airlines Credit Union

Ascend Checking available in AZ, CA, FL, IL, MA, NC, NJ, NY, OK, PA, TN, TX, TN and DC. Monthly service fee of $9.75 with direct deposit and $12.75 without direct deposit.

Appalachian Community Federal Credit Union

Fresh Start Checking available in KY, TN, VA. Minimum opening deposit is $20. Monthly service fee of $10.

Bank of the Ozarks

Pathyway Checking available in AL, AR, CA, FL, GA, NC, NY, SC, TX. Minimum opening balance is $50. Monthly service fee of $10. The checking account is a non-interest bearing account.

Centennial Bank

Opportunity 100 Checking available in AL, AR, FL, NY. Minimum opening balance is $100.00. Monthly service fee with direct deposit $9.95 and $12.95 with no direct deposit.

City National Bank

Bounce Back Checking available in KY, OH, VA, WV. No minimum balance. Monthly service fee of $6.99 with direct deposit and $8.99 without direct deposit. First two non-sufficient funds fees waived.

CommonWealth One Federal Credit Union

Second chance banking available in DC, MD, VA. Must be opened in a branch office.

Corporate America Family Credit Union

Fresh Start Checking available in AZ, CA, CT, GA, IL, KS, NC, OH, PA, TX, VA. Keep a minimum balance of $100 in your Regular Share Account. Monthly service fee of $10.

Farmers and Merchants State Bank

Clean Start Checking available in IN, MI, OH. Ideal account for rebuilding or establishing credit. Minimum opening balance is $50.00. Monthly service fee of $7.95 with direct deposit and $9.95 without direct deposit.

Fifth Third Bank

Express Banking available in FL, GA, IL, IN, KY, MI, NC, OH, TN, WV. No credit score requirement. Discounted fees of up to 50% on select services based on account usage. No check writing or check deposits at ATMs.

GenFed Financial

Clean Start Checking available in IL, IN, OH. Must have 3 or fewer records with ChexSystem. Plus no outstanding items less than 1 year old. Outstanding balance total of less than $500.

HomeStreet Bank

Bank on Checking account available in AZ, CA, HI, ID, OR, UT, WA. Minimum opening deposit is $50. This is a free account with no minimum account balance required, no monthly service charges and no per check charges.

Hope Credit Union

Easy checking account available in AR, LA, MS, TN. Minimum opening deposit is $25. The monthly service fee of $9.95 can be waived with $200 minimum balance.

InTouch Credit Union

Fresh Start Checking is available in MI, NV, TN, TX, VA. Membership must be established with a $5 deposit into a savings account. Minimum opening deposit for checking account is $50 deposit.

Landmark Bank

Rebound Banking available in MO, OK, TX. Monthly service fee of $9.99. If you keep your checking account in good standing for a full year after opening, you’re eligible to switch to another checking account.

MainSource Bank

Fresh Start Checking available in IL, IN, KY, OH. Monthly service fee of $10.

Park Community Credit Union

Fresh Start Checking available in IN, KY. No minimum balance. Monthly service fee of $12 and a required direct deposit.

PNC Bank

Foundation Checking is not publically advertised but available in AL, DC, DE, FL, GA, IL, IN, KY, MD, MI, MO, NC, NJ, NY, OH, PA, SC, VA, WI, WV.

Premier Bank

Start Fresh Checking is available in DC, MD, VA, WV. Minimum opening balance is $50.00. Monthly service fee of $7.95 with direct deposit and $9.95 without direct deposit. After 18 months, customers in good standing may qualify for a more favorable checking account at Premier Bank.

Republic Bank

Checking Builder is available in FL, IN, KY, OH, TN. Minimum opening balance is $50. Monthly service fee of $12.95 will be reduced to $7.95 with direct deposit or, at least 20 monthly point-of-sale debit card transactions.

Staley Credit Union

Renew Checking is available in IL, IN, TN. Minimum opening balance is $50. Monthly maintenance fee of $7.00.

Union Financial Credit Union

Right Start Checking is available in AL, AR, AZ, CA, CO, IN, KY, MI, MS, NJ, NV, TN, TX, UT, VA, WV. Open with a $25 deposit and no minimum balance requirement. No monthly fees plus overdraft protection up to $250.

Webster Bank

Opportunity Checking is available in CT, NY, RI. Minimum opening balance is $50.00. Monthly service fee of $11.95 with direct deposit and $16.95 without direct deposit.

Woodforest National Bank

Second chance banking is available in AL, FL, GA, KY, IL, IN, LA, MD, MS, NC, NY, OH, PA, SC, TX, VA, WV. Minimum opening balance is $25.00. Monthly service fee of $9.95 with direct deposit and $11.95 without direct deposit. One-time account set up fee of $9.95.

Second chance banking options in 50 States

Alabama

Alabama Credit UnionOn-Track Checking
Avadian Credit Unione-Checking
Azalea City Credit UnionOpportunity Draft
Community Bank & TrustSecond Slice Checking
Family Security Credit UnionGive Me a Break Checking
First National BankCredit Builder
Guardian Credit UnionFresh Start Checking
Gulf Winds Federal Credit UnionMyOpportunity Checking
United BankGateway Checking
West Alabama BankFresh Start Checking

Alaska

True North Federal Credit UnionTrue Options Checking

Arizona

Alhambra Credit UnionBasic Checking
Bank of ArizonaOpportunity Banking
Banner Federal Credit UnionOpportunity Checking
Canyon State Credit UnionTry Again Checking
MariSol Federal Credit UnionBasic Checking
Pima Federal Credit UnionFresh Start Checking
Tucson Federal Credit UnionSecond Chance Checking
Tucson Old Pueblo Credit UnionMission Checking

Arkansas

Bank of ArkansasOpportunity Banking
Diamond BankEncore Checking
Focus BankFresh Start Checking
Red River Credit UnionFresh Start Checking
River Valley Community Federal Credit UnionFresh Start Checking

California

Alliance Federal Credit UnionFresh Start Checking
Alta Vista Credit UnionOpportunity Checking
American United Federal Credit UnionFreshStart Checking
Befit Financial Federal Credit UnionFresh Start Checking
E-Central Credit UnionE-Builder Checking
Foothill Credit UnionRebound Checking
Kern Federal Credit UnionFresh Start Checking
Los Angeles Federal Credit UnionSecond Chance Checking
North County Credit UnionFresh Start Checking
Premier America Credit UnionFresh Start Checking
Priority One Credit UnionNew Leaf Checking
University Credit UnionFresh Start Checking
Ventura County Credit Union: Second Chance Checking
OneUnited Bank: Second Chance Checking

Colorado

Colorado State Bank and TrustOpportunity Banking
Liberty Savings BankClean Slate Checking
NuVista Federal Credit UnionThe Last Chance Checking

Connecticut

Eastern Savings BankRestart Checking
Finex Credit UnionRe-Start Checking
Hartford Federal Credit Union2nd Chance Checking
Tobacco Valley Teachers Federal Credit UnionmyChance Checking

Delaware

WSFS Bank: Fresh Start Checking

District of Columbia

CommonWealth One Federal Credit UnionSecond Chance Checking

Florida

Alabama Credit UnionOn-Track Checking
Axiom BankOpportunity Checking
CenterState BankFresh Start Checking
Central Credit Union of FloridaFresh Start Checking
City County Employees Credit UnionFresh Start Checking
Community First Credit UnionFresh Start Checking
Compass Financial Federal Credit UnionRestart Checking
First American BankFresh Start Checking
First Florida Credit UnionSmart Track Checking
Gold Coast Federal Credit UnionFresh Start Checking
Gulf Winds Federal Credit UnionMyOpportunity Checking
Jax Federal Credit UnionFresh Start Checking
JetStream Federal Credit UnionSecond Chance Checking
Liberty Savings BankClean Slate Checking
McCoy Federal Credit UnionFresh Start Checking
Members First Credit Union of FloridaSecond Chance Checking
Okaloosa County Teachers Federal Credit UnionFresh Start Checking
One South BankOpportunity Checking
OneUnited Bank: Second Chance Checking
Priority Credit UnionRestart Checking
San Antonio Citizens Federal Credit UnionSecond Chance Checking
South Florida Federal Credit UnionAnother Chance Checking
United BankGateway Checking

Georgia

Community Bank & TrustSecond Slice Checking
Doco Credit UnionFresh Start Checking
Excel Federal Credit UnionFresh Start Checking
Georgia United Credit UnionRestart Checking
Georgia’s Own Credit UnionResolution Checking
Health Center Credit UnionFresh Start Checking
Members United Credit UnionAnother Chance Checking
Peach State Federal Credit UnionFresh Start Checking

Hawaii

There were no second chance banking accounts found in Hawaii, however, you can open an online second chance checking account at One United Bank. The U2 E-Checking requires a minimum opening deposit of $100. Another option is an online spending account that can be used as a second chance checking account at Chime.

Idaho

Latah Credit UnionSecond Chance Checking

Illinois

Catholic & Community Credit UnionRebound Checking
First American BankFresh Start Checking
First Eagle BankEagle Fresh Start Checking
First National Bank and Trust CompanyRenew Checking
Marquette BankReStart Checking
Prairieland Federal Credit UnionNot Your Normal Checking2

Indiana

Centra Credit UnionOpportunity Checking
Diamond Valley Federal Credit UnionFresh Start Checking
Evansville Teachers Federal Credit UnionOpportunity Checking
Farmers & Merchants State BankClean Start Checking
Heritage Federal Credit Union2nd Chance Checking
Horizon BankFresh Start Checking
Interra Credit UnionOpportunity Checking
One Vision Federal Credit UnionRising Star Checking
Park Community Credit UnionFresh Start Checking
Regional Federal Credit UnionFirst Step Checking

Iowa

Collins Community Credit UnionTake2 Checking
Federation BankFresh Start Checking
Greater Iowa Credit UnionFresh Start Checking
North Iowa Community Credit UnionFresh Start Debit

Kansas

Central National BankNew Opportunity Checking
United Consumers Credit UnionSecond Chance Checking

Kentucky

C-Plant Federal Credit Union: Second Chance Checking
The Cecilian BankChoice Opportunity Checking
Central BankClean Start Checking
Evansville Teachers Federal Credit UnionOpportunity Checking
First United Bank and Trust CompanyFresh Start Checking
FNB BankStart Again Checking
Heritage Federal Credit Union2nd Chance Checking
Home Federal BankSquare One Checking
Park Community Credit UnionFresh Start Checking

Louisiana

Neighbors Federal Credit UnionBasic Checking
Pelican State Credit UnionHorizon Checking
Southwest Louisiana Credit UnionFresh Start Checking

Maine

Five County Credit Union2nd Chance Checking

Maryland

Central Credit Union of MarylandRenew Checking
Clear Mountain BankStartFresh Checking
Market USA Federal Credit UnionFresh Start Checking
Security Plus Federal Credit UnionRevive Checking

Massachusetts

Alden Credit UnionNo Boundaries Checking
Athol Credit UnionFresh Start Checking
OneUnited Bank: Second Chance Checking
Washington Savings BankOnline Rewards Checking

Michigan

Credit Union OneBasic Checking
Horizon BankFresh Start Checking
Marshall Community Credit UnionFresh Start Checking
Members First Credit UnionFresh Start Checking
Michigan State University Federal Credit UnionRebuild Checking

Minnesota

Minnesota Valley Federal Credit UnionSecond Chance Checking
WESTconsin Credit UnionFoundations Checking

Mississippi

Citizens National BankClean Slate Checking
Gulf Coast Community Credit UnionNew Chance Checking
Magnolia Federal Credit UnionOpportunity Checking
MUNA Federal Credit UnionFresh Start Checking

Missouri

Alliance Credit UnionFreshStart Checking
The Bank of MissouriSelect 2 Checking
Columbia Credit UnionFresh Start Checking
Electro Savings Credit UnionFresh Start Checking
First State Community BankNew Opportunity Checking
Focus BankFresh Start Checking
Health Care Family Credit UnionFresh Start Checking
MobankOpportunity Banking
Montgomery BankMontgomery New Start Checking
St. Louis Community Credit UnionSecond Chance Checking
Town & Country BankOpportunity Checking
United Consumers Credit UnionSecond Chance Checking
United Credit UnionRestore Checking
Wood & Huston BankStartFresh Checking

Montana

Valley Federal Credit UnionOpportunity Checking

Nebraska

Central National BankNew Opportunity Checking
Western Heritage Credit UnionSimple & Free Checking

Nevada

Clark County Credit UnionCheckAgain Checking
WestStar Credit UnionFresh Start Checking

New Hampshire

There were no second chance banking accounts found in New Hampshire, however, you can open an online checking at BBVA or Chime.

New Jersey

Credit Union of New JerseyRight Turn Checking
Jersey Shore Federal Credit UnionFresh Start Checking
United Teletech Financial Federal Credit UnionFresh Start Checking

New Mexico

Bank of AlbuquerqueOpportunity Banking
Lea County State BankOpportunity Checking

New York

Alternatives Federal Credit UnionFresh Start Checking
Centra Credit UnionOpportunity Checking
Financial Trust Federal Credit Union2nd Chance Checking
Fulton Savings BankNew Opportunity Checking
Genesee Valley Federal Credit UnionFresh Start Checking

North Carolina

Alliance Federal Credit UnionFresh Start Checking
American Partners Federal Credit UnionEZ 4U Checking
Charlotte Metro Credit UnionFresh Start Checking

North Dakota

There were no second chance banking accounts found in North Dakota, however, you can open an online checking at BBVA and Chime.

Ohio

Buckeye State Credit UnionSecond Chance Checking
Eaton Family Credit Union, Inc.2nd Chance Checking
Farmers & Merchants State BankClean Start Checking
Hopewell Federal Credit UnionRebound Checking
Kemba Federal Credit UnionFresh Start Checking
Members Trust Federal Credit UnionTrust and Alternative Checking
Sun Federal Credit Union: Fresh Start Checking
Superior Credit UnionFresh Start Checking

Oklahoma

Allegiance Credit UnionFresh Start Checking
Bank of OklahomaOpportunity Banking
Citizens Bank of EdmondFresh Start Checking
Oklahoma Educators Credit UnionFresh Start Checking
TTCU Federal Credit UnionFresh Start Checking
Weokie (Credit Union)Fresh Start Checking
Western Sun Federal Credit UnionFresh Start Checking

Oregon

Point West Credit UnionFresh Start Checking

Pennsylvania

Allegent Community Federal Credit UnionFresh Start Checking
Sun Federal Credit Union: Fresh Start Checking
Utilities Employees Credit UnionSecond Chance Checking
West Branch Valley Federal Credit UnionBack on Track Checking
WSFS Bank: Fresh Start Checking

Rhode Island

There were no second chance banking accounts found in Rhode Island, however, you can open an online checking at BBVA or Chime.

South Carolina

Caro Smart Financial SolutionsRebound Checking
Carolina Trust Federal Credit UnionEncore Checking
HopeSouth Credit UnionFresh Start Checking
Market USA Federal Credit UnionFresh Start Checking
Peach State Federal Credit UnionFresh Start Checking
Vital Federal Credit UnionFresh Start Checking

South Dakota

There were no second chance banking accounts found in South Dakota, however, you can open an online checking at BBVA or Chime.

Tennessee

First National BankCredit Builder
Greater Eastern Credit UnionFresh Start Checking
Holston Methodist Federal Credit UnionSecond Chance Checking
Home Federal BankSquare One Checking
Select Seven Credit UnionSecond Chance Shardraft

Texas

Abilene Teachers Federal Credit UnionRestart Checking
Air Force Federal Credit UnionFresh Start Checking
Allied Federal Credit UnionFresh Start Checking
Associated Credit Union of Texas180 Checking
Bank of TexasOpportunity Banking
Baptist Credit UnionDraft Builder Checking
Chocolate Bayou Credit UnionClean Slate Checking
Diamond BankEncore Checking
First Service Credit UnionFresh Start Checking
Houston Metropolitan Federal Credit UnionFreedom-2nd Chance Checking
Kelly Community Federal Credit UnionSmart Choice Checking
Las Colinas Federal Credit Union2nd Chance Checking
MemberSource Credit UnionSelect Checking
Members Trust Federal Credit UnionSecond Chance Checking
Memorial Credit UnionNew Path Checking
Nascoga Federal Credit UnionFresh Start Checking
Neigborhood Credit UnionFresh Start Checking
North East Texas Credit UnionFresh Start Checking
Peoples BankSecond Chance Checking
Premier America Credit UnionFresh Start Checking
Prestige Community Credit UnionFresh Start Checking
Red River Credit UnionFresh Start Checking
Rio BankFresh Start Checking
Select Federal Credit UnionFresh Start Checking
Southside BankNext Checking
Tarrant County’s Credit UnionFresh Start Checking
United Heritage Credit UnionChoice Checking
Unity One Credit UnionClean Start Checking
Velocity Credit UnionAccess Checking

Utah

American United Federal Credit UnionFreshStart Checking
Cyprus Credit UnionFresh Start Checking

Vermont

There were no second chance banking accounts found in Vermont, however, you can open an online checking at BBVA or Chime.

Virginia

Central Virginia Federal Credit UnionFresh Start Checking
CommonWealth One Federal Credit UnionSecond Chance Checking
Healthcare Systems Federal Credit UnionRenew Checking
Member One Federal Credit UnionSmart Choice Checking
PortAlliance Federal Credit UnionSmart Choice Checking

Washington

MountainCrest Credit UnionFresh Start Checking

West Virginia

Clear Mountain BankStartFresh Checking
West Virginia Federal Credit UnionFresh Start Checking

Wisconsin

Brewery Credit UnionFresh Start Checking
Dane County Credit UnionRelationship Builder Checking
Educators Credit UnionFresh Start Checking
First National Bank and Trust CompanyRenew Checking
Schneider Community Credit UnionFresh Start Checking
Tomahawk Community BankFresh Start Checking
WESTconsin Credit UnionFoundations Checking

Wyoming

Greater Wyoming Federal Credit UnionFreshstart Checking
WyHy Federal Credit UnionSecond Chance Checking
WYO Central Federal Credit Union2nd Chance Checking
Valley Federal Credit UnionOpportunity Checking

Save time and money with second chance banking

The Center for Financial Services Innovation (CFSI) conducted a one-day simulation as to what unbanked people may encounter when trying to conduct basic financial transactions like cash a check, pay rent and utilities. The group included entrepreneurs, nonprofit employees, and banking executives.

They found that a huge chunk of time was utilized waiting in lines at check cashing stores to cash checks, load prepaid cards, purchase money orders and complete money transfers.

In one encounter, the group “ended up waiting for nearly half an hour while the check cashing store decided it couldn’t cash one of the checks.” In addition to the time consumed the group found that conducting financial transactions at check cashing stores and Western Union is costly. A $30 money transfer at Western Union cost $5.

Rebuild your banking history with second chance banking

ChexSystems maintains negative banking history for 5 years while EWS, Telecheck and credit bureaus keep negative information for 7 years. Mistakes happen.

You deserve a second chance banking to get a fresh start.

The banking industry varies when it comes to second chance banking accounts. Second chance banking accounts may come with more limitations than standard checking accounts. Second chance banking accounts are specifically designed for people who have struggled with a checking account in the past but want to get back into banking.

Some banks and credit unions offer second chance banking with limited or no check writing privileges while other financial institutions allow most features of a regular checking account but tack on a monthly fee.

Another option for people who have been denied a checking account is to find non ChexSystems banks that don't use ChexSystems to open checking accounts. Second chance banking might include pulling a ChexSystems report but the bank doesn't hold past mistakes against you.

Avoid negative banking habits

Once your new account is open, avoid habits that contribute to a negative banking history. With online banking tools, you can always pay attention to checking account balances, keep track of all transactions to avoid overdrafts, and monitor your bank accounts.

Participation in a financial management workshop, often online for 60-90 minutes, may be required by some banks and credit unions prior to opening a second chance banking account. These workshops offer good tips on managing a checking account and avoiding actions that can get you in trouble.

Run from second and third-party checks

NEVER, EVER deposit a third-party personal check via ATM or mobile deposit. A 3rd-party check is when a friend or family member endorses a check over to you to cash or deposit. Banks typically don't like 3rd party checks because of the risk associated. If a bank accepts 3rd party checks, they may require both you and the original payee to sign the check in the presence of a teller.

You may even want to be wary of a 2nd-party check from a friend or family member. A 2nd-party check is one written directly to you. Many consumers have innocently deposited a personal check from a friend or family member that ended up as a bounced check. Banks often see these type of transactions as fraud. And for a bank, fraud is similar to bank robbery. Being reported by a bank for fraud is one of the WORST notations on ChexSystems and Early Warning Services, even if it was unintended.

best-bank-for-savings-accounts
Savings Accounts

Best Bank for Savings Accounts: CIT Bank Review

When looking for the best bank for savings accounts you might run into a road block considering the national savings rate average currently hovers around 0.09 percent APY.

At that rate, if you deposit $1,000, after 12 months you’ll have collected 90 cents in interest.

Finding the best bank for savings accounts should include a bank that pays high interest and not charge you fees. But that may be easier said than done.

Here is what 5 of America's biggest banks offer:

  • Chase savings account – 0.01 percent APY
  • Bank of America savings account – 0.03 percent APY
  • Wells Fargo savings account – 0.01 percent APY
  • Citibank – 0.04 percent APY
  • US Bank – 0.01 percent APY

Compare that with CIT Bank's stellar savings product, the Savings Builder Account that pays 1.80 percent APY.

Whether you’re saving for a new car, a vacation or building up your emergency fund, a savings account is an excellent place to keep money safe and can help you meet financial goals – if you find the best bank for savings accounts.

CIT Bank – Best Bank for Savings Accounts – Earn 1.80% APY

CIT Bank is an FDIC-insured, online-only bank founded in 2009 and currently headquartered in Pasadena, CA. CIT stands for Commercial Investment Trust because it started as a bank that served only businesses but has since expanded to serve retail customers as well.

CIT is 42nd among the largest banks in the United States. June 2017 regulatory filings state the bank has equity of $5.36 billion on $41.18 billion in assets. According to Bankrate, CIT Bank exhibits a superior condition, earning a full 5 stars for safety and soundness.

CIT Bank stands out from the crowd, thanks to a high-interest savings account of 1.80% APY and no monthly fees.

  • Interest rate: 1.80 percent
  • Minimum balance: $100 to open
  • Monthly fee: None
  • Requirement to earn 1.80 percent: Make at least one single deposit of $100 or more every month.
  • FDIC-insured

The CIT Bank Savings Builder Account is available online to U.S. citizens and is one of the top banks for high rates in the nation. This account was designed to help you build up your savings by encouraging you to consistently deposit at least $100 into the account.

When you open this account with $100, you’ll automatically receive the high rate as an introductory offer. In order to continue earning the 1.80% APY you must deposit at least $100 every month. The requirement both encourages you to save more money and rewards you for doing so.

The CIT Bank Savings Builder Account helps build momentum. Once you see the account growing, you have positive reinforcement to continue your saving behavior. Watching your savings grow is enjoyable and you’re more likely to keep it up. Learn more about the Savings Builder Account.

CIT Bank – No-Penalty CD

If you’re worried about locking your money down with a long-term CD, check out CIT's 11-month No-Penalty CD. You can withdraw your funds at any time with no penalty including any interest earned. With an interest rate of 1.75%, it’s a great way to lock in a high rate account without the requirement of a monthly $100 deposit.

With the CIT Bank No-Penalty CD, lock in a guaranteed rate and get access to your funds when you need them.

  • Interest rate: 1.75 percent
  • Minimum balance: $1000 to open
  • Monthly fee: None
  • No penalty to access funds if needed before maturity
  • Daily compounding interest to maximize your earning potential
  • FDIC-insured

Whatever your financial goals, CIT Bank's No-Penalty CD offers a no-strings attached savings vehicle. Protect against job loss, medical issues or home repairs, and be prepared for the unexpected. No-Penalty CD accounts are also good to save for big purchases or a house downpayment.

Earn high interest, grow your money and keep it liquid with CIT's 11-Month No-Penalty CD. Learn more about the No-Penalty CD Account.

CIT Bank – Money Market Account

CIT Bank has a money market account that earns 1.85% APY. Typically, money market accounts are a hybrid between a savings and checking account where you can write checks. However, CIT Bank's money market account is a little different because you don’t have the ability to write paper checks.

CIT Bank uses People Pay to send money. Like Venmo and Zelle, you can use People Pay to send money for free to anyone with a U.S. bank account and either a cell phone number or an email address. You can transfer money directly from the money market account to another account. Funds can also be sent through PayPal. The most you can transfer per transaction with People Pay is $2,000, with a $4,000 daily limit.

CIT Money Market Account earns a 1.85% APY on all balances plus a few more features.

  • Minimum deposit of $100 to open
  • No monthly service fees
  • Daily compounding interest
  • Mobile banking with Bill Pay
  • Deposit checks remotely and make transfers with the CIT Bank mobile app
  • FDIC-insured

Currently, CIT's Money Market's rate is one of the highest money market rates you can find in all 50 states. Learn more about the 11-Month No Penalty CD.

All savings accounts are subject to Reg D

Whether it's CIT Bank or any other United States-based bank, savings accounts have a 6 withdrawal limit per month. Regulation D applies to all depository institutions, big banks or small credit unions. It also applies to all consumers.

The purpose of this regulation is to ensure the financial institution has the appropriate level of reserves and to keep savings accounts from being used in the same manner as checking accounts.

To get around Reg D and access cash from your savings account beyond the 6 withdrawal limitation, use one of the methods not limited by Reg D. That includes using ATMs, withdrawing money in person at a branch or having a check mailed to you.

Drawbacks of CIT Bank

With FDIC insurance and consistently great savings rates, CIT Bank savings products continue to grow in popularity. However, there are a few drawbacks to take into consideration:

No branches. As an online bank, there are no branches to visit, so there’s no way to do your banking in person. Consumers can fund and withdraw money from accounts by electronic transfer with another bank account, wire transfer or mail.

No checking accounts. If you need a bank account to use for daily spending CIT Bank may not work for you. CIT Bank does not currently offer checking accounts.

Customer support could be better. It's no secret customers enjoy CIT Bank's high-interest rates but there have been a few complaints about hold times when contacting customer service. However, slow customer service is no reason to miss out on the stellar high-interest rates afforded to customers.

Despite any small drawback, CIT Bank offers the highest savings rates among American banks. Savers have several options at CIT Bank to make their money grow faster. CIT Bank accounts are FDIC insured, meaning that customers don’t have to worry about losing their funds if the bank were to go out of business.

See how much interest you can earn with our savings calculator.

More ways to save money

best-banks-in-texas
Free Checking

Best Banks in Texas that offer free checking

Finding the Best Banks in Texas is no easy task. Texas is a huge state, so needless to say, they have many banking options.

For most people, your checking and savings account is your financial focus where money comes in, goes out and gives you a safe place to stash extra cash.

Choosing a bank is different for everyone. What's best for you may be different than what's best for someone else. We started by looking at the Texas Department of Banking's Top 100 Banks by Asset Size and narrowed it down to the 15 Best Banks in Texas based on several factors.

Bankiful evaluated the best banks in Texas by looking at four main factors:

  • Free checking with no strings attached. Many banks charge monthly maintenance fees unless you meet specific minimum balance or activity requirements.
  • Digital banking tools like bill pay, remote check deposits, instant transfer services, account management, free way to send and receive money, and basic self-service from your computer or a mobile app.
  • Savings products like high-yield savings accounts and certificate of deposits.
  • Financial products like credit cards, mortgage, personal and auto loans.

The following list represents the best banks in Texas in these categories. Use the list to help you choose the right bank for your needs.

15 Best Banks in Texas

1. BBVAOur No. 1 Choice for Best Banks in Texas

BBVA Online Checking Account BBVA offers free checking with no strings attached. That means you don't have to sign-up for direct deposit or  maintain a particular balance to enjoy free checking — it's just free. The BBVA Online Checking account is available in ALL States (except Alaska and Hawaii). There are 330 branch offices located throughout Texas.

BBVA Online Checking Features:

  • Open with $25
  • No Monthly Service Fees
  • Free ATMs at 55,000 Allpoint® and BBVA ATMs
  • Deposit cash and checks at Allpoint® Network ATMs
  • Complimentary Online Banking and Mobile Banking, plus Mobile Deposit® and Bill Pay
  • Popmoney® lets you send money to virtually anyone, within minutes, using an email address or mobile number
  • Easily keep track of your purchases and get instant transaction alerts on the go with BBVA Mobile Banking App
  • Earn cash back for everyday debit card purchases

Digital Banking: BBVA Mobile Banking App was named a leader in both the ease of use and the customer service categories in Javelin Strategy & Research's 2018 Mobile Banking Scorecard, marking the fifth consecutive year the app has been recognized as a leader in mobile banking by the independent research firm.

Savings Products:

  • Savings account – Earns 0.05% APY
  • Money Market account – Earns 1.90% APY
  • 12- Month Certificate of Deposit – Earns 1.80 % APY

Financial Products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


2. Amarillo National Bank

Amarillo National Bank offers a Free Checking Account option that does not require a minimum balance or monthly service fee.

Free Checking Account Features:

  • Minimum Opening Deposit: $50
  • Average Daily Minimum Balance: None
  • Monthly Service Fee*: None
  • Statement Choices: E-mail or paper statements**
  • Unlimited Check Writing

Digital Banking: Online and mobile banking, online bill pay and mobile pay.

Savings Products:

  • Savings – Earns 0.80% APY
  • Money Market – Earns 0.90% APY
  • Certificate of Deposit – Earns 2.30% APY

Financial Products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


3. American National Bank of Texas

American National Bank of Texas offers a Free eChecking account. This account allows you to make deposits, get environmentally-friendly eStatements and use online and mobile Banking.

Free eChecking features:

  • $50 minimum opening deposit
  • No monthly service fee with eStatements
  • Safe and convenient eStatements
  • Free ANBTX Visa® debit card
  • Free Online Banking with Bill Pay
  • Free Mobile Banking
  • Free MoneyHD™ Financial Management

Digital banking: The mobile banking app lets you deposit checks quickly and easily. With online banking you'll be able to schedule recurring payments, make a one-time payment, track your bill payment history, make bank-to-bank transfers and use pay-a-person to send electronic payments to anyone with an email address.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


4. Austin Bank

Austin Bank offers the Austin Star Checking Account is perfect for everyday banking, for students, or as a convenient second account.

Free Austin Star checking features:

  • $50 minimum required to open
  • No minimum balance required or monthly service charge
  • Free eStatements (paper statements without images are available for a $2 monthly fee)
  • Charges from Fee Schedule for Miscellaneous Services still apply

Digital banking: Enjoy free mobile banking with Austin Mobile™. You can access account information and activity, transfer funds and more – all from your mobile device.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


5. Broadway National Bank

Broadway National Bank offers the convenience of a big national bank but with a touch of personal service as a local bank.

Free checking features:

  • Unlimited Check Writing
  • Mobile Banking
  • Free Automatic Alerts
  • Free Online Bill Pay
  • Free Email Alerts
  • Free UrDesign Photo Debit Card*
  • Mobile Check Deposit
  • 24-hour Automated Access
  • Free Overdraft Protection Transfers from Linked Account
  • No fee to use Out of Network ATMs (ATM owner may charge a fee)

Digital banking: Enjoy free mobile banking. Access Mobile Banking with Bill Pay instantly after opening your account.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


6. City Bank

City Bank offers the Simple Checking Account with no strings attached. It takes only a minimum deposit of $50 to open the account. After your account is open, there is no required minimum balance and there is no monthly fee.

Free Simple checking account features:

  • E-Statements
  • No monthly service charge
  • No minimum balance
  • Free debit card
  • Unlimited check writing
  • Overdraft protection

Digital banking:Enjoy free online and mobile banking.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


7. Community Bank of Texas

Community Bank of Texas offers the Thrifty free checking account that requires $25 to open. After your account is open, there is no required minimum balance and there is no monthly fee.

Free Simple checking account features:

  • No monthly service charge
  • No minimum balance
  • Free debit card
  • Mobile and Online Banking
  • Overdraft protection

Digital banking: With online banking you get the freedom and peace of mind that comes from knowing you have 24/7 access to your money. Manage your transaction history, transfer funds, view alerts, pay bills and view check images and deposits.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


8. First United Bank & Trust

First United Bank & Trust offers the Freedom Checking Account that can be opened with $1. This checking solution is built to provide a basic, no minimum balance, no-frills checking account that’s economical and thoughtfully featured.

Freedom checking account features:

  • No minimum balance requirements
  • $1 minimum to open account
  • Free eStatements* with Personal Internet Banking
  • Earn basic My Bank Rewards with most debit card purchases
  • Access surcharge free ATMs at all First United, MoneyPass and Sheetz ATMs
  • Simple access to Internet Banking or Mobile Banking
  • Unlimited check writing privileges
  • Your own personal Visa® debit card
  • Check Safekeeping*

Digital banking: First United lets you securely transfer money, deposit checks, check balances and more–all on the go with their Mobile app.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


9. LegacyTexas Bank

LegacyTexas Bank offers a free checking account that you can open with a minimum deposit of $100. No minimum balance required. No monthly service charge.

Free checking account features:

  • No monthly service charge
  • No minimum balance required
  • Free Debit Card
  • Free Online & Mobile Banking
  • Free Online Bill Pay
  • Free Mobile Deposit

Digital banking: Manage your money on your terms with free online bill pay, free mobile app and free mobile deposits.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


10. Pioneer Bank

Pioneer Bank offers a free checking account with no minimum balance, free debit card, 50,000+ free ATMs, easy mobile app with check deposits at the snap of a pic. You can pay bills online, pay people from phone to phone, set alerts to keep tabs on your cash. Oh, and did we mention all this is free?

Free checking account features:

  • No monthly service charge
  • No minimum balance required
  • Free debit card, 50,000+ free ATMs
  • Free Online & Mobile Banking
  • Free Online Bill Pay
  • Free Mobile Deposit

Digital banking: Online banking gives you full control to monitor your accounts and move money securely. You can pay bills online, pay people from phone to phone, set alerts to keep tabs on your cash.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


11. Pinnacle Bank

Pinnacle Bank offers a free checking account that requires $100 to open. The free account is truly free with no monthly fee and no minimum balance.

Free checking account features:

  • Visa® Debit Card with UChoose Rewards
  • Online Banking
  • Online Bill Pay
  • Mobile Banking with mobile deposits
  • Account Alerts

Digital banking: Use your smartphone to pay bills or to manage your account and set alerts.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


12. Southside Bank

Southside Bank offers the Classic Free Checking Account that requires a $50 minimum opening deposit.

Free checking account features:

  • No monthly service fee
  • Online Banking
  • Online Bill Pay
  • Overdraft privilege
  • Check Writing

Digital banking: Enroll in online banking eStatements, mobile banking, bill pay, mobile deposit, online banking, pay-a-friend and text banking.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


13. TBK Bank

TBK Bank offers a totally free checking account that requires $50 to open.

Totally free checking account features:

  • No monthly maintenance service charge
  • No minimum balance
  • Unlimited check writing; no per-check charges
  • Free online banking with bill pay
  • Free mobile banking* and mobile deposit
  • Free eStatements with paper statements available
  • Free debit card†
  • Popmoney service available
  • $50 minimum deposit to open

Digital banking: Free online and mobile banking to manage your account, deposit checks, pay your bills, make transfers, view your transaction history, send money to people you know, set up real time push notifications and balance alerts.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


14. Texas Bank and Trust

Texas Bank and Trust offers a free digital checking account that requires $50 to open.

Free checking account features:

  • No monthly service charge
  • No minimum balance
  • Send money directly to friends, family or anyone
  • Online banking with bill pay
  • $50 minimum deposit to open

Digital banking: Enroll in online banking eStatements, mobile banking, bill pay, mobile deposit, online banking, pay-a-friend and text banking.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC and Investments.

Learn More →


15. USAA Federal Savings Bank

USAA Federal Savings Bank is one of the largest on this list offering free checking that only requires a $25 deposit to open.

Free USAA Classic Checking features:

  • No Monthly Service Fees
  • 60,000 USAA-preferred ATMs
  • No Minimum Balance
  • Industry-leading security measures
  • Overdraft Protection
  • Special features for military recruits

Digital banking: Enroll in online banking, send and receive money with Zelle, track spending, mobile deposits.

Savings products: 

  • Savings
  • Money Market
  • Certificate of Deposit

Financial products: Checking, Saving, Credit Cards, Personal, Auto and Mortgage Loans, HELOC, Insurance and Investments.

Learn More →


Ranking Disclosure: Data for this ranking was compiled from and verified against the individual institutions’ websites on Mar. 5, 2019. Rates, terms and conditions are subject to change at the discretion of the individual financial institutions. APY was based on the minimum deposit required to open the account. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met in order to obtain the interest rates listed. Rates and availability might vary by region. Please verify terms and conditions before opening an account. Rankings are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement.

early-direct-deposit-banks
Banking

5 Early Direct Deposit Banks: Get paid up to 2 days faster

Get paid up to 2 days faster with early direct deposit banks. Plus, paydays make people happier than Christmas according to a 2018 Quickbooks PayrollSurvey.

Direct deposit is the easy way to have paychecks deposited electronically into your checking account. Other income such as social security, retirement and employment benefits also qualify for early direct deposit.

Early direct deposit banks are now offering a benefit many prepaid debit cards offered for many years.

Most banks wait until payday to give you access to your money even though employers typically process payroll a few days before payday.

Early direct deposit can be offered because every pay period your employer sends payroll files to the Federal Reserve. The Federal Reserve then notifies your financial institution the amount of your direct deposit along with the date you should receive payroll funds.

Early direct deposit banks immediately make your funds available as soon as the bank receives the notification from the Feds instead of holding on to your money until your pay date.

5 Online Banks With Early Direct Deposit

Online banks that offer early direct deposit give you access to your funds up to two days early so you don’t have to wait to pay off expenses or struggle at the end of a pay period.

1. Axos Bank – Essential Checking

banks-that-offer-early-deposit The Essential Checking Account at Axos Bank offers Direct Deposit Express that enables customers to get their direct deposit paychecks up to 2 days early. Axos Bank is a federally chartered, FDIC-insured, full-service online bank founded in 2000. The Essential Checking Account makes it simple for customers to manage their account from all of your electronic devices. It's a hassle-free, no-fee checking account where customers can make mobile deposits and also deposit cash at any ATM location, nationwide with the Axos Bank debit card. You can open this bank account online with a $25 opening deposit.

Essential Checking Account Features

  • Get paid up to 2 days early with Direct Express.
  • Unlimited domestic ATM reimbursements.
  • No monthly maintenance fees.
  • No annual fee.
  • No overdraft or non-sufficient funds fee.
  • Plus, with your Axos Bank debit card, you can deposit cash at any location, nationwide.


2. Chime Spending Account

The Chime Spending Account allows customers to get their direct deposit up to 2 days early. There is no check writing with this account, but it does not charge monthly fees or overdraft fees. Another place where Chime shines is they have a large free ATM network but unlike Axos Bank, you cannot deposit cash at ATM locations.

Chime Spending Account Features

  • Get paid up to 2 days early with direct deposit.
  • No hidden bank fees.
  • No monthly maintenance fees.
  • Grow your savings automatically.
  • No overdraft or non-sufficient funds fee.


3. Varo Mobile Checking

Varo is a mobile-only banking app with a free checking and high-yield savings. There are no overdraft or monthly fees or minimum balance requirements. Varo also includes a fee-free ATM network, budgeting tools and automatic savings programs. You can deposit cash at 90,000+ retail locations using Green Dot Reload @ the Register but retail service fees apply.

Varo Mobile Checking Features

  • Get paid up to 2 days early with direct deposit.
  • No overdraft fees. (See requirements).
  • No ATM fees at 64,000+ Allpoint® ATMs.
  • No monthly maintenance fees.
  • No foreign transaction fees.
  • No minimum balance fees. And no other fees.

Learn More


4. Radius Bank

Radius Bank is a full-service online bank, with one branch in Boston. Radius Banks features ATM fee reimbursements, high interest rates and a rewards checking where you can earn 1% cash back on signature-based purchases in stores and online (at store checkouts, you select “credit” instead of “debit”). If your balance hits $2,500, a 1.00% annual percentage yield kicks in. If you have $100,000 or more, the rate becomes 1.20% APY.

Radius Checking Account Features

  • You can receive your paycheck up to two days early, depending on your employer.
  • Receive 1.00% cash back on online and signature-based “credit” transactions made with a Radius debit card.
  • Unlimited 1% Cash Back Free ATMs worldwide and unlimited rebates.
  • Earn 1.00% on balances of $2,500-$99,999.99 or 1.20% APY on balances of $100,000 & up.

Learn More


5. GTE Financial

GTE Financial has been serving the Tampa Bay area since 1935, with 23 locations and over 30,000 FREE ATMs. Credit unions are not-for-profit financial institutions focused on member ownership. GTE Financial offers the same products and services as banks except profits are then returned to members in benefits like higher dividend yields, lower rates and fees, new products and services. As one of the nation's largest credit unions membership is available online in all states.

GTE Financial Checking Account Features

  • Get paid up to 2 days early with direct deposit for $3.00
  • $4.95 monthly service fee.
  • Online & Mobile Banking Tools.
  • Free Bill Pay Service.
  • Popmoney to transfer money to friend and family using their email address

Learn More


Stay on top of your bills with early direct deposit

With early direct deposit, you can get your paycheck before the month is up to pay necessities like rent, utilities and cell phone bill – all these essential expenses tend to accumulate at the end of the month. Early direct deposit can prevent you from paying late fees or worse, paying overdrafts that add up.

Boost your savings with early direct deposit

With early paychecks, if you normally get paid on Fridays, you could see your paycheck by Wednesday. Getting your money earlier means more money to set aside for saving, whether it’s for a large purchase or for an emergency fund. To reach your goals faster, open a high-interest savings account.

Banking

Citizens Trust Bank – Everything You Need To Know

citizens-trust-bank

Citizens Trust Bank is a black-owned bank headquartered in Atlanta, Georgia with assets totaling $429 million. Citizens Trust Bank has been around since 1921 and is considered a medium-sized bank.

An array of financial products are offered, like checking accounts, savings accounts, money market accounts, mortgage products, and credit cards that provide you with many options to manage your money.

free-online-checking-account-no-deposit
Free Checking

Best Free Online Checking Account With No Opening Deposit

You can definitely open a free online checking account – no opening deposit but be prepared to make a deposit within 30 days or the account may be closed.

It’s fairly simple to open a checking account online nowadays. Not having the initial deposit does not have to prevent you from opening a checking account.

While most banks require a minimum opening deposit that can range up to $100, we have found an online bank that does not require an opening deposit.

But first, to open a free online checking account with no deposit you'll need a few things:

  • Name
  • Home address
  • Date of birth
  • Citizenship status
  • Social security number
  • Phone number
  • Email address

You should also set aside 10-15 minutes of uninterrupted time because most bank sites will automatically log you off after a few minutes of inactivity.

5 Free Online Checking Accounts – No Opening Deposit

1. SoFi Cash Management Account

The SoFi Money Cash Management Account offered by SoFi Securities LLC, a FINRA registered broker dealer. With SoFi Money Cash Management account you can make deposits, write checks, utilize electronic bill pay and transfer money, there are no monthly fees or overdraft fees. Plus, you earn a competitive 1.80% APY on all deposits. The funds in your SoFi Money account are subject to FDIC coverage once they are deposited at one of our partner banks.

SoFi Cash Management Account Features

  • No account fees
  • Unlimited reimbursed ATM fees
  • High-yield interest rate
  • Access to SoFi member benefits like career coaching and financial advising
  • Automated bill pay
  • Easy P2P payments at no cost
  • Freeze debit card on-the-go
  • FDIC-insured deposits up to $1.5MM through the SoFi Money sweep program with partner banks.

Click here to get started with SoFi Money.

2. Chime Spending Account

Chime is an online-only with no monthly fees, no overdraft fees, and no foreign transaction fees. Chime will round up purchases to the next dollar and save the remainder – although the interest rate is low. The absence of physical branches allows Chime to offer banking that is almost entirely fee-free. Chime offers mobile check deposits but cash can be difficult to deposit. You can deposit at Green Dot locations, which may charge a fee. Because Chime has experienced several outages this year alone, you might want to use it as a secondary account.

Chime Spending Account Features

  • Get paid up to 2 days early with Early Direct Deposit.
  • No monthly fees, no foreign transaction fees, no minimum balances, or overdraft fees.
  • Save money on auto-pilot with Automatic Savings.
  • Access over 30,000 fee-free MoneyPass ATM's and 30,000 cashback locations.
  • Mobile app for iOS and Android
  • Get real-time transaction alerts.
  • Pay bills with Chime Checkbook.

Click here to get started with Chime.

3. Capital One 360 Checking Account

Capital One is an online bank offering monthly free checking, check writing, free ATMs, free online banking, mobile deposits and an overdraft line of credit. And their accounts pay a small interest on your balance as well. Higher balances can tap into bigger rates.

Capital One 360 Spending Account Features

  • Ability to write checks (checks must be ordered from Capital One)
  • Free ATM/debit card provided
  • Free online bill pay
  • Remote check deposit using a mobile device or scanner
  • An overdraft line of credit
  • Free Person2Person Payments so you can pay friends and other individuals

Click here to get started with Capital One 360 Checking.

4. Ally Bank Interest Checking Account

If you want an easy-to-use, no-fee checking account, Ally Bank’s Interest Checking Account is a top choice. This online banking account is simple to use and does not charge any fees for regular checking account activity.

This account pays a modest interest rate and offers free Allpoint ATM uses and up to $10 in monthly reimbursements for other bank ATM fees. It also offers quick online transfers with Zelle and has great customer service where it is easy to reach a human on the phone (which is pretty rare nowadays).

There are no monthly fees, plus no fees for ACH transfers to or from other banks, no fees for cashier’s checks and no fees for incoming wires. This account also offers free checks, which come in handy for your landlord or anyo
Capital One 360 Spending Account Features

  • Earn 0.10 percent on balances of less than $15,000
  • Earn 0.60 percent on balances greater than $15,000
  • No monthly maintenance fees
  • Free ATMs Nationwide
  • Receive up to $10 per statement cycle in ATM fee rebate charges at other U.S. ATMs
  • Send payments to friends and family with Zelle
  • Deposit checks to your account with the mobile app

Click here to get started with Capital One 360 Checking.

Final thoughts

The availability of funds from checks deposited may
be delayed for a longer period of time to ensure that
the funds have cleared the institution on which they
were drawn and under circumstances including, but not
limited to, the following:

New Customers
The following chart describes the longer holds that may apply
to the Accounts of new customers during the frst 30 days after
your Account is opened:

There is no minimum opening deposit required and there is no minimum balance requirement.

Why banks hold deposits: When you deposit funds into your account, the bank often puts a hold on those deposits, requiring you to wait for at least one business day before you can use the money. Especially with checks and money orders, banks cannot be sure that a payment is legitimate. Plus, the money doesn’t actually arrive at your bank for several business days (or more) after your deposit. The hold is intended to protect the bank from losing money.

Holds protect you, as well: Holds can also help you avoid problems, but you are ultimately responsible for any deposit you make to your account. If your bank allows you to cash a check that later bounces (which can happen several weeks after you make the deposit), you may have to pay fees, and you’ll have to repay the bank for the money they gave you. Even though a bad check isn’t your fault, it’s still your problem, unfortunately. That’s why it’s critical to verify funds on suspect checks, and avoid taking payments from anybody you don’t trust.

Checking Accounts

5 Best Checking Accounts For Bad Credit You Can Open Online

Traditional banks offer the best option for building a lasting banking relationship.

When choosing the best checking accounts for bad credit, it’s important to know your options.

Don't let bad credit stop you from opening a bank account but be sure to watch out for a few costly features. For instance:

  • High monthly service fees
  • Limited ATM Network
  • Costly overdraft fees

Monthly fees for bank accounts for bad credit are common. However, you want to avoid extreme monthly fees. There's a popular bank (I won't mention the name), that has a checking account for bad credit that charges an outrageous $25 a monthly service fee! 

While most checking accounts for bad credit have a monthly service fee, that fee is generally reasonable and can be  waived after 12 months of good account management.

1 2 3 4
About Exponent

Exponent is a modern business theme, that lets you build stunning high performance websites using a fully visual interface. Start with any of the demos below or build one on your own.

Get Started
Subscribe Now
Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
Youtube
Consent to display content from Youtube
Vimeo
Consent to display content from Vimeo
Google Maps
Consent to display content from Google
Spotify
Consent to display content from Spotify
Sound Cloud
Consent to display content from Sound