If you’re one of the over 1 million households in California without a bank account, access to a growing economy can seem out of reach.
Banks and credit unions use a company called ChexSystems to monitor almost all checking account holders in the state. Most people get flagged for bouncing too many checks or not being in a position to pay excessive returned check fees (“NSF”). Your bank then either closes your checking account or denies you the opportunity to open a new account because of the information contained in the ChexSystems database.
And with the vast majority of banks and credit unions in California using ChexSystems, it’s very hard to march across the street to another bank in hopes of getting a new account.
Fortunately, there are banks and credit unions in California who do not use ChexSystems. There are are also banks and credit unions who offer so-called Second Chance Bank Accounts. They are hard to find, but when you do it is a great relief to know there are financial institutions who want your business. And they won’t charge you an arm and leg for it.
CheckingExpert has helped thousands of people just like you open second chance banking accounts. We’ve selected the best accounts in California for 2020 based on acceptance rates, checking account features and benefits, and the accounts with the lowest fees. Best of all, you can open an account today!
List of the Best Second Chance Banks and Credit Unions in California
BBVA Online Checking is our hands-down winner for the best second chance bank account for residents of California. They have the strongest offering of any of our recommendations. No hidden fees, no monthly minimums, and no monthly charges. BBVA uses EWS to screen applicants instead of ChexSystems. It’s easy to get approved and takes about 3 minutes. Plus, their smartphone app and online tools are the best we’ve reviewed.Why do we recommend BBVA Online Checking so highly? If you’ve got poor credit or find yourself on ChexSystems, BBVA will approve you for an account. And, there are over 45 BBVA branch locations in the state.
- NO monthly fees or service charges
- NO monthly account balance minimums
- NO fees at over 64,000 Allpoint® and BBVA ATMs worldwide
- FREE online banking, bill pay, and mobile deposits
- FREE unlimited check writing
- FREE Visa® debit card
- Open with as little as $25
It’s simple to apply. The BBVA website is simple and easy to interact with. There is a $25 minimum deposit required to open an account. You’re online approval is immediate. BBVA is one of the most friendly banks for those who need a second chance at a checking account. The entire process from start to finish takes about 3 minutes.
Your BBVA Visa Debit Card allows you access to all BBVA ATMs and Allpoint ATMs. Allpoint ATMs can be found at these retailers and many more:
Our runner up is Chime Bank and is another great checking account option. Chime doesn’t perform ChexSystems background checks and the account comes with lots of perks, including a debit card and transaction alerts, which allow you to track how much you’re spending and what your balance is throughout the day. It’s free to open an account and there’s no monthly maintenance fee or other hidden fees.Another perk that makes this account stand out is that if you use direct deposit for paychecks from your employer, you can access that money two days sooner than you could with many other banks.
Though Chime doesn’t offer paper checks, users can still send checks to anywhere in the U.S. using the bank’s mobile app — which can also be used for making check deposits on the go.
Open a Chime Bank account today!