Many financial institutions check your credit history as a part of the account opening process. This can be problematic if you have bad credit. Depending on how severe your credit challenges are, you may be declined for a bank account.
Thankfully, there is a growing number of banks that not only don’t check your credit as a prerequisite for opening an account but some help you build your credit, too.
Whatever the reason, if you’re searching for a bank that won’t check your credit to open an account, you’ve come to the right place. We’ve compiled the following list of no credit check bank accounts.
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Bank Accounts That Don’t Use Chexsystems or Pull Credit
Oftentimes, banks will pull your credit when you open a bank account. Some banks use a banking system inquiry company called Chexsystems.
Chexsystems will tell a bank representative if you’ve had hurdles with bank accounts in the past, such as unpaid returned items or negative bank balances that were not brought to a positive balance.
However, the banks and banking fintech companies listed here have created accounts that bypass one or both of these common tools, helping anyone who needs a banking account to get one.
Read up on what each one offers and decide which of these bank accounts for bad credit or no credit is best for you.
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1. Chime
Chime is a fintech company that was founded in 2013 on the premise that banking should be helpful, easy, and free. It offers a high-yield savings account with no minimum balance requirement, no monthly fees, and no maximum on earned interest.
- $0 opening deposit requirement
- No minimum balance requirement
- $0 monthly fee
- $0 overdraft fees
- 60,000 fee-free in-network ATMs
- No joint accounts offered
Another great feature is the Chime Round-up, which rounds up your purchases to the next dollar and then transfers the extra funds to your Chime savings account.
Interested in building credit? Chime also offers a Credit Builder account. When you deposit money, the account acts similarly to a secured credit card and can be used to improve your credit score.
You can make debit card purchases through your Credit Builder account. Those purchases are reported to major credit bureaus as on-time payments. Continually funding your credit builder account and using it to make purchases can contribute to a positive credit history. Chime deposits are FDIC-insured through Stride Bank and Bancorp Bank.
Read our full Chime Review for more information.
2. GO2bank
GO2bank is a subsidiary of the Green Dot Corporation, which has been helping people manage their cash for over 20 years. Here are some key features of the GO2bank account:
- $0 opening deposit requirement
- No minimum balance requirement
- $5 monthly fee (waived with Direct Deposit)
- $0 overdraft fees if your balance is brought positive within 24 hours
- Thousands of fee-free in-network ATMs
- No joint accounts offered
GO2bank also offers a high-yield savings account. There are no fees if you set up Direct Deposit to your checking account. Otherwise, you’ll pay a $5 monthly fee that covers both savings and checking.
You can hold a maximum combined balance of $50,000 in your GO2bank checking and savings accounts.
GO2bank also offers a secured credit card to help you build credit, with credit limits starting as low as $100.
3. Current
Current Bank is a new kind of neobank. It offers both a debit card and a Build card to help you build credit as you spend. Other features of the Current Spend account include:
- $0 opening deposit requirement
- No minimum balance requirement
- $0 monthly fee
- $0 overdraft fees
- 40,000 fee-free in-network ATMs
- No joint accounts offered
You can fund your Current account by transferring from a linked account or by setting up a Direct Deposit. And you can deposit checks into the free checking account using your mobile device.
Current offers a Save account with no minimum balance requirements. As of the time of this writing, the base APY is 0.25%, but you can earn up to 4.00% APY by setting up a Direct Deposit of $200 or more. If you receive more than $500 in qualifying deposits into your Current account over the preceding 30-day period, you can qualify for a fee-free overdraft.
Current Invest allows you to buy and sell dozens of popular cryptocurrencies with zero trading fees. FDIC insurance is offered through Choice Financial Group and Cross River Bank.
See our full Current Review to learn more.
4. Flare
Flare is the brainchild of the people over at NetSpend, in conjunction with Pathward, a federally registered financial institution.
Account features include:
- $0 opening deposit requirement
- No minimum balance requirement
- $9.95 monthly fee, $5.00 monthly fee if you set up Direct Deposit
- $0 overdraft fees
- $2.50 ATM usage fee per transaction
- No joint accounts offered
When you use the Flare debit card to make a purchase, Flare will donate money to a nonprofit of your choice. The list of Flare partnership nonprofits includes:
- Humane Society of the United States
- Homes for Our Troops
- Adopt-A-Classroom.org
- National Breast Cancer Foundation
These donations don’t cost you anything and are made by ACE Cash Express, the owner of the Flare Account, based on your purchase amounts.
Flare also offers a high-yield savings account with a competitive interest rate when you have Direct Deposit set up. FDIC insurance is provided through Pathward.
5. Oxygen
Oxygen is a banking app that is designed to help you manage all of your finances in one place, and has a community aspect to it as well. Some of the main features of Oxygen include:
- $0 opening deposit requirement
- No minimum balance requirement
- $0-$299 annual fee, depending on which plan you use
- $0 overdraft fees
- 40,000 fee-free in-network ATMs
- No joint accounts offered
Oxygen’s other features include cash back on select purchases, the option to open a high-yield savings account and set savings goals, and both virtual and actual debit cards.
You can also earn discounts off of your annual fee depending on how much you use your card. Early Direct Deposit and travel benefits are also available with all Oxygen plans.
You can chat with other Oxygen users, split expenses, and send payments as well. And while we’re not covering them in this article, Oxygen also offers business accounts. FDIC insurance is provided by The Bancorp Bank.
6. Acorns
Acorns was launched in 2012 with the goal of helping more people have access to saving and investing. Here are the key features of the Acorns spending account:
- $25 opening deposit requirement
- No minimum balance requirement
- $3-$9 monthly fee, depending on which plan you use
- $0 overdraft fees
- 55,000 fee-free in-network ATMs
- No joint accounts offered
When you bank using Acorns, your purchases are automatically rounded up to the next dollar. The round-ups are used to help you automatically save and invest.
By upgrading to the higher subscription tiers, you get additional benefits, such as an Acorns Emergency Fund and a high APY on your online checking and Emergency Fund accounts.
Other Acorns benefits include bonus earnings when you shop at partner companies, free debit cards, and additional investment options when you upgrade to higher-tiered subscriptions. Lincoln Savings Bank and NBKC Bank provide FDIC insurance for Acorns customers.
Read our full Acorns Review to learn more.
7. Wise
Wise, formerly known as Transferwise, was launched in 2011 with the intention to make it easier and more affordable for people to bank internationally. Key Wise features include:
- $0 opening deposit requirement
- No minimum balance requirement
- $0 monthly fee
- $0 overdraft fees
- $9 to get the debit card, some limits on free withdrawals
- No joint accounts offered
Note that transaction fees vary with the Wise card, depending on the currency you’re working in. You can both send and receive money in a variety of currencies.
While Wise may not offer some of the features of a traditional bank or banking fintech, it’s a great option if you do a lot of international traveling or if you send and receive money from people in other countries regularly.
FDIC insurance is available through JP Morgan Chase Bank
8. Revolut
Revolut was launched in 2015 with the goal of simplifying all things money-related. Features of Revolut include:
- No minimum opening deposit requirement
- No minimum balance requirement
- $0-$16.99 monthly fee, depending on the plan
- $0 overdraft fees
- 40,000+ fee-free in-network ATMs
- Joint accounts offered
Other Revolut features include a global chat, splitting of payments, and sending or receiving money with other Revolut members.
You can also spend abroad, with a real exchange rate. Revolut offers savings accounts with high-yield interest, rewards for spending, and the option to buy slices of stocks starting at $1. FDIC insurance is provided for Revolut by Sutton Bank.
9. Capital One
Capital One’s 360 Checking account doesn’t require a hard credit check or use Chexsystems, but they will do a soft credit pull on your account at the time of opening.
Some of the features of Capital One’s 360 Checking include:
- $25 opening deposit requirement
- No minimum balance requirement
- $0 monthly fee
- $0 overdraft fees
- 70,000 fee-free in-network ATMs
- Joint accounts offered
Capital One will typically decline a transaction that causes your balance to fall below zero. However, you may be able to have money automatically transferred from your Capital One savings account to cover overdrafts.
Learn More About Capital One 360
10. Majority
The Majority banking app was created with migrants in mind. Whereas most banks and banking apps require account owners to have a Social Security number, the Majority banking app does not. Some features include:
- $0 opening deposit requirement
- No minimum balance requirement
- $0 monthly fee
- $0 overdraft fees
- Fee-free at in-network ATMs
- No joint accounts offered
Other features of the Majority banking app include early Direct Deposit, a Visa debit card, fee-free money transfers, and branch offices in Houston and Miami. FDIC insurance is provided by Axiom Bank.
11. Varo Bank
Varo Bank aims to provide a wide array of banking services to its clients. Key features include:
- $0 opening deposit requirement
- No minimum balance requirement
- $0 monthly fee
- $0 overdraft fees
- 40,000 fee-free in-network ATMs
- No joint accounts offered
Varo also offers Direct Deposit up to two days early, and they partner with Zelle for instant transfer capabilities. The bank partners with Green Dot to offer cash deposit services for a fee.
You can also make deposits via bank transfer or Direct Deposit. Other Varo features include a high-yield savings account, a credit-builder account, and loan accounts.
12. SoFi Banking
SoFi, well known for its student and personal loans since 2011, now offers checking and savings accounts and is an FDIC member. Key features include:
- $0 opening deposit requirement
- No minimum balance requirement
- $0 monthly fee
- $0 overdraft fees
- 55,000 fee-free in-network ATMs
- Joint accounts offered
You can transfer money into your SoFi checking account via bank transfer, mobile deposit of check, Direct Deposit, or cash deposits through partners such as Green Dot.
When you open a SoFi checking account, you’re automatically given a SoFi savings account as well. Your SoFi savings account will earn a higher yield when you meet certain requirements, such as having a Direct Deposit into the account.
You’ll automatically be enrolled for a SoFi membership when you open your bank accounts here. Benefits of this membership include access to the SoFi Rewards Points program, access to special events at SoFi stadium, and more.
Learn more by reading our full Sofi review.
FAQs
Many people can open a no-credit-check checking account. However, most financial institutions do have some requirements that will help them to verify identity.
You may be able to open a checking account even if you’re on Chexsystems. Search for a bank that doesn’t use Chexsystems, such as SoFi and Varo.
All bank accounts have different features, benefits and pricing. Look through the list above to determine which no-credit-check bank account is best for you.
Some of the banking institutions listed here offer joint accounts, and some don’t. Search the websites of the banks or banking fintech companies you’re considering using to find out if they offer joint accounts.
Final Thoughts
For those looking for a second chance, a no-credit-check bank account can be a great way to get back on track. These accounts have little to no minimum balance requirement, online banking access, low fees, and helpful credit-building features.
Consider opening one of these accounts if you need a leg up as you reestablish or establish your banking history.
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