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If you’ve had outstanding debts, overdrafts or other banking problems in the past that lead to you losing your checking account, it may be difficult to open a new one. However, gaining an understanding of your situation and realizing that there are checking accounts designed for people in your situation can help put you back in control. If you find yourself in this position, you may want to see whether you can get a second chance checking account.



  1. 1
    Determine the reason banks are denying you a checking account. You can check with the denying institution to find out whether it based its decision on information from ChexSystems, which reports mishandled accounts and outstanding debts to its member institutions, or TeleChecks, which reports fraud and bad checks. If it used ChexSystems, you can order a copy of your report from that company to better understand -- and in some cases appeal -- the institution’s decision. You can talk to a TeleChecks representative to better understand a denial based on that company’s information.
  2. 2
    Realize that you are permanently denied a regular checking account if you have bad credit information stored in either ChexSystems’ or TeleChecks’ database. Many banks forgive former bad credit if you pay the debt and don’t have problems for 2 years. If the information in ChexSystems or TeleChecks is fraud-related, you generally have to wait a minimum of 5 years to receive a regular checking account.
  3. 3
    Explore the websites of banks and credit unions that you are already familiar with to find out if they offer second chance checking accounts that you can obtain. Many major financial institutions offer these accounts to potential customers with bad credit or with other banking problems, often with minimal fees, if any. Read the institution’s checking FAQ’s and use the search term “second chance” to locate personal checking accounts that may be right for you. Call customer service if you’re unable to find the information on the website.
  4. 4
    Examine other options if you are unable to find a financial institution that you already trust offering second chance checking accounts. When you find institutions that you’re unfamiliar with offering this type of account, review all the information carefully. Before opening the account, make sure you know the name and reputation of the bank. Also, review the application for any hidden fees, as unscrupulous companies make money from taking advantage of individuals having a difficult time getting checking accounts.
  5. 5
    Apply to get a second chance checking account, completing the application with absolute accuracy, since misrepresenting yourself on the application will likely lead to a denial.

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  • Financial institutions that do not use ChexSystems or TeleChecks may not have a record of your former banking problems, and so are easier to obtain checking accounts from. Online, you can find directories of financial institutions that do not use these systems.
  • If banks continue to reject you for a regular checking account and you aren’t sure why, always ask the financial institution for details. Sometimes, banks mistakenly deny individuals.
  • Make sure you have the minimum opening deposit when you apply for the checking account.


  • Some websites that appear to offer a second chance checking account are actually just selling you the name of a bank at which you can apply to get a second chance checking account. Know exactly what you’re paying for before you submit a payment.

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Categories: Banking

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