According to a study by the FDIC, nearly 7.1 million households in the U.S. are “unbanked”, meaning that no one in the household has a checking or savings account. Out of all Alabama households, 7.6% are completely unbanked, accounting for over 140,000 households in the state alone!
If you have a bad history with banking, it can be tough to find a bank or credit union that will give you a second chance. Especially if you’ve been reported to ChexSystems, a consumer reporting agency that is used by most banking institutions to determine if an applicant is a good or bad risk for a new account.
Thankfully, there are plenty of second chance banks in Alabama that do not use ChexSystems and are willing to work with you. Second chance bank accounts are designed to help you get back into banking after a financial mishap. They can also help you rebuild your credit score so that you can qualify for better interest rates in the future.
Our purpose here at CheckingExpert.com is to help you find a bank that doesn’t use ChexSystems and share our knowledge of the banks and credit unions in Alabama that are more likely to approve your application, regardless of your past with ChexSystems. Don’t let a bad banking history hold you back from getting the checking account you deserve!
Second Chance Banking in Alabama for November 2023Open an account today! Did we leave your financial institution off this list of The Best Second Chance Banking in Alabama? Has there been a change in any of the listings? Please let us know.
Best Second Chance Banks by State
To find more information and additional options available in your area, select your state from the list below and explore your options.