A survey by the FDIC shows that nearly 110,000 households in Kentucky are “unbanked”, meaning no person in the household has a checking or savings account. There are a lot of reasons why a person may not have a bank account. A lot of people don’t have enough money to meet the minimum balance requirements, while others have a hard time getting an account due to a bad credit score.
If you’ve had a hard time opening a checking account due to past banking mistakes, you may have been reported to a consumer reporting agency called ChexSystems. ChexSystems is used by the majority of banks in the U.S. and will blacklist anyone that demonstrates questionable behavior. Even though this agency is supposed to protect banks from people who commit fraud and identity theft, a lot of people get caught in the crossfire and are flagged simply for making common banking mistakes.
Whether you’ve had one too many overdraft fees or had your account closed involuntarily, odds are you’re in the ChexSystems database and will have a hard time opening an account at other institutions. Our job here at CheckingExpert.com is to help you find a bank or credit union that will assist you in opening the checking account that you deserve.
Many banks offer second chance checking accounts that specifically intended for those that have experienced past banking mistakes. Other banks we recommend do not use ChexSystems at all during the application process. No matter your situation, there are still plenty of banks and credit unions in Kentucky that want your business!
List of Second Chance Banks and Credit Unions in Kentucky for October 2022
Open an account today!
Chime® is a fast-growing internet-only financial company and our top choice for a second chance bank account.
And, best of all, Chime accepts almost all customers who apply. Even if you have bad or poor credit or have been blacklisted by ChexSystems or the credit bureaus.
Features include mobile deposits, direct deposit, online bill payment, NO monthly or annual fees, NO overdrafts fees1, NO credit check, and NO CheckSystems. Opening an account is super easy. It takes about 2 minutes and you don’t have to make an initial deposit. Here’s what we like:
No Monthly Fees
For the past couple of years, Chime’s huge growth has come at the expense of the big banks and their outrageous fees. And it’s one of the best features of a Chime account. There are no monthly or annual service charges, no minimum balance requirement, no foreign transaction fees, no fees at over 60,000 ATMs2, and no fees for mobile and online bill pay.
Deposit Cash for FREE at Over 8,500 Walgreens
Having access to a physical location for cash deposits is important to Chime members. And now it’s easy. All you have to do is go into a Walgreens store, hand the cashier the cash you want to deposit along with your Chime card, and the deposit will show up in your account immediately. This offers Chime members more walk-in locations than any other bank in the U.S. With over 78% of the country within 5 miles of a Walgreens, this is a significant benefit for millions.3
Smart Technology
Unlike big banks, Chime was created during the smartphone era and, therefore, features an app that is more than just a way for customers to review their bank accounts.
You can transfer funds to friends and family, Chime members or not… and they can claim their money instantly4 without any additional apps. The Chime app also has a series of notifications that you can turn on or turn off so you stay in complete control. Misplaced or lost your card? You can instantaneously turn off your card using the app. No wonder over 300,000 customers have given the app a 5-star review.
Customers First 
Chime was one of the first to offer a “round up” option. If you use your Chime card on a purchase of $10.65, Chime gives you the option of automatically rounding up to $11.00 and putting the remaining $.35 in your free Chime savings account. And that adds up over time! Plus, Chime pays 1.50% Annual Percentage Yield (APY)5 in interest on that savings account.
If you use direct deposit with your Chime account, you can get your paycheck up to 2 days early6. And Chime is just saying no to big bank NSF charges with a fee-free overdraft program up to $200. Finally, Chime just recently launched their Credit Builder credit card with no interest and no annual fee. We don’t think there is another company innovating for their customers like Chime.
Get a Chime Account Today!Chime is a financial technology company, not a bank. Banking services and debit card issued by The Bancorp Bank or Stride Bank, N.A.; Members FDIC. See additional disclaimers below.
Current is another web-only national bank that has some really great features… and has become one of the fastest-growing checking accounts for consumers who want it all without all the costs and hassles.
Why are we featuring Current on our website? It’s simple: they don’t use ChexSystems or your credit report to open a new account. Sign-up takes about 2 minutes and Current has extremely high acceptance rates. But what’s really cool are the incredible features offered with this account:
- NO minimum balance
- NO deposit required to open an account
- NO overdraft fees when you overdraw by up to $100 with Overdrive™
- NO fees at over 40,000 ATMS in the U.S.
- Get your paycheck up to 2 days early with direct deposit
- Earn 4.0% interest on your balance up to $6,000
- Earn points for unlimited cashback at participating retailers
- Send money instantly for free
- An elegant but simple smartphone app
- 24/7 member support
Current offers a really unique service it calls Gas Hold Removals. What’s a gas hold? Some gas stations may apply a hold from $50 to $100 when you use a debit card to pump gas. If you only pumped $10 of gas, but the gas station places a $100 hold on your funds, you won’t have access to the $90 difference for up to 3 business days! The Current debit card will immediately refund the hold so you have access to all your funds. We haven’t found that benefit anywhere in the marketplace.
Here’s what’s really important, though. Deposits are FDIC-insured up to the highest possible amount allowed: $250,000. We love the features, we love the smartphone app, and we love Current. That makes us think you’ll love them too.
Get a Current Account Now!Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Metropolitan Commercial Bank, Members FDIC.
For many people, having access to a local bank branch is paramount when setting up a checking account. With over 16,000 ATMs and 4,700 branches across the country, the Chase Secure Banking account might be the perfect fit.
Here are some of our favorite features with this account:
- NO credit check
- NO ChexSystems
- NO minimum deposit to open
- NO overdraft fees
- FREE access to over 16,000 Chase ATMs
- FREE Chase Online Bill Pay
- FREE money orders and cashier’s checks
Highly Rated Mobile App
Available for iOS and Android, the Chase Mobile app offers 24/7 access to your account. The app is highly rated, earning 4.8 stars out of 5 on the App Store and 4.4 stars out of 5 on Google Play.
You can transfer funds, deposit checks, send money with Zelle, set up account alerts and notifications, and lock your card if it’s been lost or stolen.
The app also has incredibly helpful budgeting tools, personalized insights, and the ability to check your credit score for free.
How The Account Works
Opening the Chase Secure Banking account is easy. They verify your name, address, and social security through Experian, but don’t pull a credit report or credit score. Chase doesn’t use ChexSystems for this account, either. Account approval is immediate, there’s no opening deposit requirement, and you’ll receive your Chase Secure card within a matter of days.
Chase doesn’t offer overdraft services with this account as you can only spend the money you have available and the account does not include paper checks. You should also know that using non-Chase ATMs can cost from $3.00 to $5.00 per transaction.
Chase Secure Banking carries a $4.95 monthly service fee that cannot be waived. But combined with all the free services and the $100 cash bonus when you use the card for 10 purchases within 60 days, the monthly fee doesn’t pose a problem for most customers. And, you’ll have peace of mind with Chase’s Zero Liability Protection if you detect and report unauthorized transactions.
Banking With A Leader
Chase claims to be involved with 40% of Americans in some way or another. There can be comfort in size, reach, and stability. Chase has all of that and the assurance they will be there for a long, long time.
If you’ve wanted to bank with Chase and wondered if you’d qualify, we think you’re going to be really happy with the Chase Secure Banking account.
Get a Chase Secure Banking account today!
Acorns doesn’t use ChexSystems or a credit report to approve accounts and offers some strong benefits.
We love the heavy metal tungsten Visa debit card and the world-class smartphone app that allows you to manage every aspect of your new checking account such as budgeting, spending, and security.
Another nice option is the ability to round up on every purchase and Acorns will take that money and automatically put it in a savings account. This really helps build a nest egg.
It takes about 2-3 minutes to sign up and you get both a checking and savings account. Here’s more:
- FREE Visa® debit card
- FREE bank-to-bank transfers
- FREE physical check sending online or through the mobile app
- FREE mobile check deposits
- FREE or reimbursed ATM withdrawals nationwide
- NO minimum balance or overdraft fees
- NO credit check; ChexSystems OK
- FDIC insured
There is a $3 monthly fee that is easily covered by the ATM fee reimbursement and other goodies included with the account.
If you’ve struggled with poor credit or ChexSystems, Acorns might be the perfect account.
Learn More
Rather than referring to your ChexSystems record, Armed Forces Bank will refer to a credit report and Certegy check services to determine if you’re eligible for an account. If you only have issues with ChexSystems, there’s a good chance you will be approved.We like their Access Checking account because it provides all of the banking necessities while remaining affordable. The account comes with digital banking access, free eStatements, a free Visa debit card, and overdraft protection services. To waive the moderate $10 monthly service charge, you just need to enroll in direct deposit.
To get started, all you will need is $25 for an initial deposit. As the name may suggest, Armed Forces Bank offers accounts to anyone who is actively enrolled or retired from the U.S. Army. You can find their Kentucky branch conveniently located in Fort Knox.
If you are looking for a second chance at banking, Appalachian Community Federal Credit Union offers their Fresh Start Checking account. With only a $20 opening deposit and a $10 monthly service fee, you receive all of the normal checking perks. Your checking account includes:- An instantly issued Visa Check Card
- myACFCU online services
- Free bill pay
- Monthly e-Statements
- Early check deposits with direct deposit
ACFCU does not have minimum balance requirements or check writing charges. You also receive a free financial check-up to help you improve your credit score.
To become a member you must live, work, worship or attend school in Clinton, Jackson, Wayne or McCrery County. You can also join if you have a relative who is already an ACFCU member. Visit one of their branches in McKee or Berea to get started!
Aspiration is a socially and environmentally conscious company that can help you make more sustainable choices — while making the most of your money. Their Spend & Save account combines both checking and savings and opening an account takes just a couple of minutes.
Here’s a few of the account features:
- NO minimum balance
- NO fees for paper checks
- NO overdraft or NSF fees
- NO credit check or ChexSystems
- NO fees at over 55,000 ATMs in the U.S.
- Get your paycheck up to 2 days early with direct deposit
Free or Monthly Fee – You Choose
With an Aspiration account, you decide how much your monthly fee will be — starting at $0. Through its “Pay What Is Fair” model, the company trusts customers to choose a monthly fee that’s fair for your wallet and fairly reflects the service you get from Aspiration. You can change your fee at any time.
For $7.99 per month, you can also choose to become an Aspiration Plus member and earn extra perks: 5% APY interest on savings, 10% cashback on certain purchases, and a debit card made of recycled ocean plastic. That’s a load of benefits!
This is the only banking product we’ve reviewed that offers the opportunity for members to spend and save with an environmentally friendly purpose.
Learn More
Bank of Clarkson will look at your credit report in lieu of ChexSystems, Telecheck, and EWS when you apply for a checking account. As long as there aren’t too many negative entries on your credit report, you should be able to get an account.Out of the several account options, we recommend Free Checking if you want to avoid pesky service fees. All you need to get started is at least $50 for the opening deposit. Once you open the account, you won’t need to worry about monthly service fees, per-check charges, or minimum balance requirements! You also get all the necessities like online banking access and free notary services.
To get an account, contact one of their two branches located in Clarkson and Leitchfield!
Banterra is one of our favorite Kentucky options for second chance banking. The Banterra Restart Basic and the Banterra Restart Checking both offer the opportunity to open a traditional checking after establishing a good checking relationship with Banterra. The only difference between the two accounts is the ability to write unlimited checks with a Restart Checking account.All you need to open a Restart account is an opening balance of $50. There is no minimum balance requirement. If you choose to direct deposit your paycheck, your monthly service charge is reduced from $9.95 to $6.95. Both Restart accounts offer:
- Free digital banking
- Free online statements
- Free Visa debit card with a daily $750 merchandise limit and $300 cash limit
- Paper statements for an additional $1 per month
- Free ATM transactions at Banterra ATMs
Banterra Bank has two locations in Kentucky that are both in Paducah. You can visit their website to fill out an application or apply in-person at a branch.
If your ChexSystems record is keeping you from a checking account, The Cecilian Bank wants to help you rebuild your financial reputation. With Choice Opportunity Checking, you have a second chance at successfully managing a checking account. You only need a $50 minimum deposit to open a Choice Opportunity account.If you sign up for direct deposit, your monthly service fee is reduced to $8, a savings of $2 a month. In addition to unlimited check writing and debit transactions, you receive:
- A free Visa debit card
- Free online banking with statements
- Free mobile banking and bill pay
- No minimum balance requirements
The Cecilian Bank has seventeen locations in Kentucky. You can find branches in Bradenburg, Cecilia, Elizabethtown, Hardinsburg, Irvington, Leitchfield, Radcliff, Rineyville, Sonora and Vine Grove.
The Opportunity Checking Account from Centra Credit Union is a good option for getting your finances in order. Credit unions traditionally offer a lot of perks to members. Opportunity Checking includes:- A Mastercard debit card
- Online banking
- BillPayer
- Electronic statements
- Phone banking
- Unlimited check writing
With limits on debit card usage and check-cashing, CCU helps you stay on track. We like that they offer overdraft protection to Opportunity Checking account holders.
To become a CCU member, you must first open a savings account with a $5 minimum deposit. You must live, work, worship or study in Bullitt, Jefferson, Henry, Shelby, Oldham, Trimble or Spencer County. There are multiple convenient branch locations in Louisville, Kentucky.
It only takes one year to rebuild your banking history with Central Bank. After 12 months of positive checking with a Clean Start Checking account, you can request to move into a traditional account.We consider Clean Start Checking one of the easiest accounts to open. The initial opening deposit is only $10. If you sign up for direct deposit, your monthly service fee is reduced from $10 to $8. As an added perk, if you have a loan through Central Bank, you receive a 0.50% loan discount when you sign up for automatic payments from your checking.
It’s important to note that you will need to apply in person for this account. There are many Central Bank locations in Kentucky, including: Berea, Lexington, Louisville, Crestview Hills, Florence, Nicholasville, Covington, Fort Mitchell, Winchester, Richmond and Georgetown.
Instead of referring to ChexSystems, Citizens Bank & Trust Co. utilizes Telecheck to determine if you are eligible for an account. Out of their several different account options, their Regular Checking is a straightforward option for everyday banking.The account comes with free online banking, free eStatements, and checks available for purchase. There is an opening deposit requirement of $100 and a monthly service charge of $7. If your daily balance is greater than $700 for the entire statement cycle, the monthly fee will be waived.
Citizens Bank & Trust Co. is a Kentucky-based bank. They have branches located in Jackson and Beattyville. Contact a branch nearest you to get started with an account!
Citizens Guaranty Bank believes that everyone deserves another chance. Their Clean Slate Checking offers you a fresh start, no matter your financial track record. The account comes with a free Visa debit card and unlimited check writing.To open the account, you need a $25 minimum deposit. Although there is no minimum balance requirement, you do have a $10 monthly service fee. Signing up for direct deposit lowers your monthly fee to $8.
Clean Slate Checking allows you to keep track of your spending through free online banking, free mobile banking and convenient eStatements. You are required to have the account open for at least 180 days.
Apply online or at one of the Irvine, London or Richmond locations.
City National Bank helps you get back on track with Bounce Back Checking. City National Bank understands that mistakes happen, and Bounce Back account holders have their first two non-sufficient funds fees waived.Low fees help you keep your money where it belongs–in your account. There are no minimum balance requirements. If you sign up for direct deposit, your monthly fee is only $6.99.
All City National Bank accounts feature:
- Free eStatements
- Free mobile banking
- Free online banking and bill pay
- Free text banking
- Access to more than 90 branches and ATMs
City National Bank has many convenient locations in Northern Kentucky. You can find branches in Carlisle, Mt. Sterling, Lexington, Grayson, and many other cities across the state.
Rather than using ChexSystems, Community Trust Bank refers to EWS to determine if you’re eligible for an account. If you have only had issues with ChexSystems banks in the past and haven’t been reported to EWS, you should be able to get an account.We like their Flexible Checking account because it has the least amount of fees and still offers notable benefits. In addition to a debit card and monthly statements, you will get your first 20 checks for free. The opening deposit is a steep $100, but after the account is open there are no monthly service fees or balance requirements.
Community Trust Bank has dozens of locations across the state in most major cities. You can find them in Lexington, Virgie, Ashland, and many others. Stop by a branch nearest you to get started!
If you have past checking account problems, Evansville Teachers Federal Credit Union’s Opportunity Checking offers you a second chance. This simple checking account has a low monthly fee of $7.50. After 12 months of good banking habits, you are eligible to move into a free Debit Rewards Checking account.With Opportunity Checking, you have the choice of either an ATM or a debit card. You receive:
- Free online banking and bill pay
- Direct deposit
- No minimum balance requirements
- Standard checking fees for non-sufficient funds
- Access to overdraft protection upon application
- Up to 10 free ATM withdrawals each month
Evansville Teachers Federal Credit Union has locations in Bowling Green, Henderson, Louisville and Owensboro. You can apply for membership online or in person. You don’t have to be a teacher to join, ETFCU has thousands of ways to be eligible.
Fifth Third Bank offers easy checking accounts to anyone without a history of fraud or a debt owed to Fifth Third. You have a choice of multiple checking options with Fifth Third. Their Momentum Checking account is one of their best accounts for those looking to rebuild their banking relationship. With no minimum deposit and no minimum balance required, banking is simple with Fifth Third.The contactless debit MasterCard offered by Fifth Third makes transactions fast and safe. You can also safely track your purchase online or through the mobile app. You also receive:
- Mobile alerts for transactions
- Easy Deposits program
- Access to more than 50,000 fee-free ATMs nationwide
- Online and mobile statements
Fifth Third has more than 75 branch locations in Kentucky. You can find them in Covington, Lexington, Louisville, Hebron, and dozens of other cities throughout the state. Visit a branch nearest you to apply for an account!
First & Peoples Bank does not use ChexSystems, Telecheck, or EWS when screening new applicants. Instead, they opt to utilize a credit report to determine if you’re eligible for a checking account. Out of their three checking options, we recommend Hometown Living Checking.Hometown Living Checking provides all the necessities without charging any monthly service fees. You will get free eStatements, a debit card upon approval, and three free checks per month. They don’t have a huge online presence, but they do offer an online banking tool called NetBanker.
First & Peoples Bank is Kentucky-based and has branches located in Russell, Flatwoods, Greenup, and South Shore.
First Financial Bank’s NoWorry Checking account offers a fresh start regardless of your checking history. There is a $25 minimum opening deposit, as well as a $10 monthly service charge. If you complete one of their approved financial education courses, the monthly service fee is discounted to only $5.You’ll receive a debit card along with free ATM access and you even get a free gift when you open at a banking center. There are also plenty of digital features, including mobile deposits and online and mobile banking.
First Financial Bank has a few locations in northern Kentucky in Hebron, Burlington, and Edgewood. Visit their website or a branch nearest you to get started!
We like First Southern National Bank because they only require two forms of ID (one of which must be government-issued) when you apply for a checking account. If you’ve had problems in the past with ChexSystems, Telecheck, or EWS, this could be a great option for you.They offer a few different checking account options suited to fit your needs. If you prefer a bare-bones account with just the necessities, we recommend Online Checking. With this account you will receive a free Visa debit card, access to online and mobile banking, and overdraft protection services. If you want an account with a few added benefits, we recommend Traditional Checking that is interest-bearing and includes unlimited check writing.
You can find First Southern National Bank branches located across the state in Nicholasville, Lancaster, Lexington, Princeton, and many other cities. Visit their website to find a convenient location near you!
Rather than going through ChexSystems, First State Bank utilizes a credit report to determine your eligibility for a checking account. They won’t necessarily look for a particular score, but they will look at the overall health of your report. You should have no problem getting an account as long as there aren’t too many negative entries.Out of their five different checking options, we recommend the Free n’ Easy Checking account. After an initial deposit of at least $25 you won’t need to worry about pesky service charges or minimum balance requirements. The account comes with a debit card, free eStatements, and access to online and telephone banking.
To get started, visit one of their convenient locations in Hardinsburg, Irvington, or McDaniels. Everyday banking can be simple with a Free n’ Easy Checking account!
First United Bank & Trust Company wants to help you leave the past behind and move forward with Fresh Start Checking. This is a check-only account, but you can request the addition of an ATM/Debit card. After a year of positive account balance, you have the option of moving into a traditional checking account.Fresh Start Checking makes it easy to always know where you stand. You have free access to online banking, mobile banking and bill pay. Your E-Statements include check images. Telephone banking allows you to check your balance 24 hours a day.
You can open a Fresh Start Checking account online with a $10 setup fee and a $50 minimum opening deposit. There is a $14 a month service fee and no minimum balance requirements. First United Bank has locations in Earlington, Beaver Dam, Marion and Madisonville. The Madisonville, Marion and Beaver Dam locations can instantly issue a debit card when you open an account.
Start Again Checking from FNB Bank is an excellent choice for a fresh start. If you’ve been turned down for checking accounts in the past, Start Again Checking is a simple way to rebuild a banking relationship.Although there is a steep $100 minimum deposit, we like how easy FNB Bank makes managing your money through their in-branch Digital Guides. This service walks you through the process of using all of the online and mobile banking features offered with Start Again Checking. Don’t worry about getting it all under control in just one visit, you can always reach out to a Digital Guide for additional help at any time.
Start Again Checking has a $10 monthly service fee and no minimum balance requirements. You have unlimited check writing abilities. After twelve months of positive balance, you are eligible for a standard checking account.
Kentucky has FNB Bank locations in Mayfield, Paducah, Murray, Cadiz and Wingo.
When you apply for an account at Forcht Bank, they won’t use ChexSystems, Telecheck, EWS, or a credit report during the screening process. Instead, they only require two forms of ID. As long as you don’t owe them any money, your chances are good for getting an account.We recommend their Easy Checking account if you want an easy, low-cost account for day-to-day spending. This account includes all the necessities such as online banking access, free eStatements, and a MasterCard debit card. You can also purchase checks and enable overdraft protection services. It’s important to note that there is a $50 minimum opening deposit and a $6 monthly service charge if your balance falls below $100.
To get started, contact one of their branches. You can find them all over the state of Kentucky including Barbourville, Burlington, Lexington, Louisville, Greensburg, and several other cities.
GO2bank is an offering of pre-paid card giant GoBank and we think it’s a step in the right direction. Like some of the newer “challenger banks” GO2bank will deposit your direct deposit check up to 2 days early and has cashback rewards on several categories of purchases. This account also makes you eligible for the GO2bank credit card, which has no annual fee or required credit check.One significant drawback to many online-only bank accounts is that they have no way to accept cash deposits. But GO2bank accepts cash deposits at over 90,000 Green Dot locations nationwide. However, participating retailers may charge you a fee.
If you direct deposit over $500, your monthly maintenance fee of $5.00 is waived. And, they offer a pretty sweet overdraft protection program, but it has a gotcha charge of $15 if you don’t replace the funds within 24 hours.
Account-holders will appreciate the ability to budget their money with the help of a mobile app, budgeting tools, and a savings vault. In fact, they pay 1% on all money in the saving vault up to $5,000.
Go Further from GTE Financial helps put you on the path to a better checking account. If you don’t qualify for a traditional account, the Go Further account will help you get there in as little as 12 months. We consider this a low-cost second chance checking. As long as you make a total deposit of $500 for the month, opt to receive eStatements and make 15 monthly transactions, the $9.95 maintenance fee is waived.GTE Financial is one of the largest credit unions in the US. Membership is open to anyone through easy requirements and an online application process. The Go Further account includes:
- Free EMV-equipped debit card with built-in rewards
- Online and mobile banking tools
- Free bill pay service
- Easy money transfers through the Popmoney service
Home Federal Bank offers a second chance account for anyone who has had problems in the past with money management and checking accounts. The account is called Square One Checking and it provides all of the basic necessities of a traditional checking account while helping you rebuild a positive banking history.You can set up a Square One Checking account with or without direct deposit. If you enroll in direct deposit, your monthly service fee will be discounted from a hefty $19.99 down to $12.99. It’s also important to note that there is a $50 minimum opening deposit as well as a one-time $10 setup fee. This account includes an ATM/debit card, overdraft privilege, and online banking with bill pay.
If this sounds like an option that will suit your needs, visit their website and fill out an Account Request form or stop by one of their branches in Middlesboro or Harlan if you prefer applying in person.
Lili was custom made for freelancers and independent contractors who are operating as sole proprietors and single member LLCs and we really like their offering. Lili aims to approve most accounts within 2-3 days, but some accounts are approved in 2-3 hours.Lili offers a checking account and Visa debit card with no initial deposit or minimum balance requirement, no hidden fees, no credit check, and no ChexSystems. Lili makes getting your account easy! Here’s more of what we like:
- FREE business VISA debit card
- FREE (and very user-friendly) mobile app
- NO minimum balance
- NO NSF charges or fees
- NO credit check or ChexSystems
- Receive direct deposit funds 2 days earlier than many banks
- Mobile check deposit
- Unlimited fee-free transactions
- Takes 3 minutes to apply
Application Process
You can set up an account online. If you’re a freelancer, you should receive approval and account access almost instantly. If you’re a sole proprietor or single-member LLC, approval can take a couple of days. You can fund your account using a mobile check deposit, direct deposit, ACH transfer, or by linking your Venmo, PayPal, or Cash App account.
If you’ve had difficulties in the past with banks that use ChexSystems, MidWest America Federal Credit Union may be a viable option for you. Instead of ChexSystems, they use Telecheck when screening new applicants. If this sounds suitable to your situation, we recommend their Freedom Checking account.With Freedom Checking you won’t need to worry about minimum balance requirements or per-check charges. If your average balance is more than $500 or you use your debit card five or more times each statement cycle, the monthly service fee will be waived. This account also offers overdraft protection and monthly eStatements.
MidWest America FCU extends membership to Select Employee Groups as well as those who live, work, worship, or attend school in Allen, Barren, Christian, Monroe, and Trigg Counties. You can also join if you have a relative that is already a member. Contact one of their branches in Hopkinsville or Scottsville to see if you’re eligible!
No matter your banking past, Navy Federal Credit Union offers traditional checking for all members in Alabama and across the US. With no review requirements of your banking history, NFCU is an excellent choice for active duty or retired US military, family members and government contractors. There are two banking choices to choose from: Active Duty Checking and Free eChecking.Both account options come with a free NFCU debit card. There is no monthly service fee with direct deposit. Your account is protected from overdrafts with free savings transfers, a checking line of credit or an optional overdraft protection service. You also receive:
- Free mobile deposits
- Free bill pay
- Free traditional name-only checks
- Dividends credited monthly
NorthOne is a fast-growing company built specifically around business banking solutions for freelancers, entrepreneurs, and small business owners. In addition to dramatically streamlining the application process, NorthOne doesn’t check your credit and doesn’t use ChexSystems. Here’s a recap:
- FREE business Mastercard debit card
- FREE access at over 1,000,000 ATMs nationwide
- FREE online and mobile app
- FREE live chat (not a chatbot), telephone, or email support
- FREE in-app invoice creator
- NO minimum monthly balance requirement
- NO NSF fees
- NO ACH transfer fees
- NO credit check or ChexSystems
Banking Services
NorthOne doesn’t require a minimum account balance and charges a $10 monthly fee that includes unlimited transactions in your account. These include ACH payments, bill pay, debit card usage, mobile deposits, and transfers. The only other fee is $15 for wire transfers.
You can also grant read-only access to employees or your accountant or bookkeeper. This keeps your account safe while also giving access to those who need it.
Integrations
With NorthOne business banking, you can connect your account to an almost unlimited number of third-party apps. NorthOne integrates with business tools including Paypal, Stripe, Square, Etsy, Shopify, Airbnb, Amazon, Venmo, Toast, Uber, Lyft, Quickbooks, FreshBooks, Wave, Expensify, and many more. Through these integrations, you can sync transaction details, collect payments, see and pay invoices, send payroll, pay contractors, and more.
If creating and sending invoices, quotes, and estimates is critical to your business, NorthOne offers a free stand-alone invoice creator that integrates seamlessly with the banking app. We’ve tried it and think it’s an elegant solution.
Application Process
NorthOne targets account approvals within one to two business days. Information required to open an account includes name, address, and social security number or tax identification number. If applicable, NorthOne may ask for a copy of your business license and business formation documents. After you’re approved, you’ll need to make a $50 minimum opening deposit.
One of the most important steps to taking your business to the next level is the need to set up a business bank account. And if you get the right business account, it can give your growing business all the tools much larger businesses enjoy… without all the big business costs.
Novo understands small business owners and makes it easy to open and manage an account. As an online-only bank, you’ll find Novo strikes the right balance between technology, human touch, and real-world benefits. Here are some of our favorite features for Novo Business Checking:
- NO monthly fees
- NO minimum balance requirement
- NO ATM fees
- NO credit check or ChexSystems
- FREE Mastercard debit card
- FREE mobile app
- FREE transfers, mailed checks, and incoming wires
- FREE invoicing to create, send, and track invoices
- FREE mobile check deposit
Application Process
It takes about 10 minutes to sign up for a Novo account. You’ll need personal and business information, which may include a social security number, business tax ID, and business formation documents. They do not check your credit or use ChexSystems.
Novo is growing quickly. Their offering is popular with small business owners. The account approval process is currently taking 1-2 business days and once you’re approved, you can get full access to your account with a simple $50 deposit.
We like Novo. We think you’ll like it, too.
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The SoFi Checking & Savings account is offered by SoFi Bank. It’s a checking and savings account on steroids and we love that. Plus, they don’t use ChexSystems to approve accounts.
You get a debit MasterCard and a very slick smartphone app. You can make deposits, write checks, utilize electronic bill pay, and transfer money. There are no monthly fees or overdraft fees. Plus, you earn interest on all the money in the account! The sign-up process can take less than 60 seconds. With over 2.5 million members, SoFi is a bank you can count on!
The $325 bonus comes in two parts. When you deposit at least $10, SoFi will credit your account $25. When you set up direct deposit from an employer, SoFi will credit your account up to $300 (depending on the amount of your direct deposit) and bump the interest rate you earn to 1.25% APY. The bonus and interest rate are some of the highest we’ve seen.
- No account fees
- No minimum balance
- No overdraft fees
- No fees at over 55,000 ATMs
- Access to SoFi member benefits like career coaching and financial advising
- Automated bill pay
- Freeze debit card on-the-go
SoFi Money has been great! The account was easy to open and I got my debit card a few days later. The smartphone app is easy to use and I can check everything from my computer, too. I’ve had some issues with ChexSystems in the past and SoFi Money seems to be the perfect account.
Kevin M., SoFi Money Customer
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South Central Bank offers Green Tree Renew Checking to those who don’t qualify for a traditional checking account. If you’ve had issues in the past with ChexSystems or have a damaged credit report, this account can help you rebuild a positive checking history.Green Tree Renew Checking comes with a free Visa debit card and check writing abilities. There is a $50 required opening deposit as well as a $12.95 monthly service fee that can be reduced to $8.95 if you use direct deposit. After 12 months of good standing, you can request to upgrade to a Free Checking or Green Tree Checking account.
To open an account, you can apply via their website or visit one of their branches to apply in person. You can find South Central Bank branches in Glasgow, Cave City, Edmonton, Elizabethtown, Bowling Green, and several other cities across Kentucky.
Right Start Checking, provided by UNIFY Financial Credit Union, is a go-to option for people who have been denied membership of a traditional account due to a negative history with ChexSystems. Opening a Right Start Checking account, with an initial deposit of $25, will allow you to write as many checks as you need and overdraft protection up to $250.This account has no monthly fees associated and allows for eBanking from any device, meaning you’ll have access to your funds anywhere in the world that you have service. Building a positive checking history has never been easier with this second chance bank account.
While UNIFY FCU only has one branch in Georgetown, they are in-network with several co-op shared branches where you’re able to make payments, transfers, check deposits, ect. Some of these branches can be found in Stanton, Florence, and Louisville.
US Bank offers you a new start with a Safe Debit Account. Not having check writing abilities is seen as a plus by US Bank. By only offering a debit card, the Safe Debit Account keeps you from accidentally overdrawing your account. If an overdraft does happen, US Bank will not charge you a fee. Your only fee is a $4.95 Safe Debit Account monthly maintenance fee.The Safe Debit Account features:
- A US Bank Visa debit card
- Online banking and bill pay
- Mobile banking with mobile check deposit
- Discounts on money orders
US Bank also helps you build a better credit future with free access to the TransUnion Creditview Dashboard through your online banking. You can use this financial tool to see your VantageScore 3.0 credit score and see what minor changes in your behaviors can do for your future.
Application is easy through the fast and secure online application. US Bank also has many branches where you can apply in person. You can find them in Berea, Cold Spring, Glasgow, Mount Washington, and many other cities all over Kentucky!
Varo Bank is another internet-only bank with services based on their mobile apps for Apple and Android devices. Varo doesn’t charge fees at 55,000+ Allpoint ATMs and offers strong budgeting tools and automatic savings programs.Opening an account is easy and Varo doesn’t check your credit or use ChexSystems. Varo doesn’t even require an initial deposit to open an account, either. There are never any monthly maintenance fees, account balance minimums, overdraft fees, foreign transaction fees, transfer fees, or debit card replacement fees.
Varo’s recent bank charter has them innovating more than ever. They have a very strong cashback program, a payroll advance option, and have started to offer their customers a secured credit card called Varo Believe.
Finally, if Varo receives a payroll notification before your payday, it can deposit your money more quickly than many banks.
Wells Fargo recently changed the Opportunity Checking account to Clear Access Banking. And we like one change, in particular. Wells Fargo has done away with overdraft and non-sufficient funds (NSF) fees. Clear Access Banking is a debit card-only account (no paper checks available) and if you attempt to purchase something without sufficient funds, the transaction will be denied. That’s a lot better than having the transaction approved and then discovering you’ve been hit with a $35 overdraft fee.There is a $5 monthly fee, but that is be waived for account holders 24 years old and younger. This account is available to residents in all 50 states.
- The largest number of branches in the U.S.
- Minimum deposit of $25 to open an account
- Online bill pay and smartphone app
- Mobile check deposit
- Includes a Visa debit card
- Send and receive money through Zelle
- Additional features include account alerts, 24/7 fraud monitoring, and zero liability protection for your debit card
Instead of resorting to ChexSystems, Wilson & Muir Bank will pull a credit report when you apply for a checking account. As long your credit report is somewhat healthy and doesn’t reflect too many negative entries, you should be able to get an account.If you’ve had issues in the past with checking accounts and want something affordable and hassle-free, check out their Free & Easy Checking account. There is a requirement opening deposit of at least $100, but after that the account is free of monthly service charges and balancer requirements. The account also includes unlimited check writing, access to online banking, and overdraft protection services.
Wilson & Muir Bank is entirely Kentucky-based and provides convenient branches located in Bardstown, Bloomfield, Vine Grove, Elizabethtown, Leitchfield, Big Clifty, and Louisville. Visit a branch nearest you to get started!
Woodforest National Bank’s Second Chance checking is designed for those with previous banking account challenges. With a minimum initial deposit of only $25 and a $9 one-time account fee, you can begin to build a positive banking relationship.You can lower your Second Chance monthly maintenance fee from $11.95 to $9.95 by setting up monthly direct deposit. Woodforest offers:
- Online banking
- A mobile banking app
- Woodforest Debit Card
- Overdraft solutions
- Free platinum debit card
All services are easily managed online or in person at branches in Walmart Supercenters across the US. There are multiple Kentucky locations, especially in the Louisville and Lexington areas.
Did we leave your financial institution off this list of The Best Second Chance Banks and Credit Unions in Kentucky? Has there been a change in any of the listings? Please let us know.
Chime is a financial technology company, not a bank. Banking services and debit card issued by The Bancorp Bank or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.
1Eligibility requirements apply. Overdraft only applies to debit card purchases and cash withdrawals. Limits start at $20 and may be increased up to $200 by Chime. See chime.com/spotme.
2Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. Cash deposit or other third-party fees may apply.
3Customers are limited to three $1,000 cash deposits at Walgreens each day and $10,000 each month.
4Sometimes instant transfers can be delayed. The recipient must use a valid debit card to claim funds. See your issuing bank’s Deposit Account Agreement for full Pay Friends Transfers details.
5The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of August 25, 2022. No minimum balance required. Must have $0.01 in savings to earn interest.
6Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.