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Second Chance Checking: Real Information and Resources

You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Here's how we make money .

It’s not a given that anyone can open a regular checking account. About 7.7% of American households, or almost 10 million people, are unbanked, and part of the reason involves having bad credit or poor banking histories.

Making mistakes with a bank account, such as not paying overdraft fees. can put you on a list to let other banks know you’re a risky customer, and you might be denied an account because of it.

Fortunately, some banks and credit unions offer so-called second chance checking accounts to help people rebuild their credit and financial histories. These accounts usually carry monthly fees and come with a few other requirements, such as participating in a financial literacy or money management class. An account holder might also not be eligible for overdraft protection, since second chance banking serves as a way to prevent overdrawing an account altogether.

Here’s an overview of these accounts and where you can find them at branches in your area.