Bank accounts are not optional in today’s dynamic world. Not having a bank account can not only make it harder for you to pay bills or deposit your paycheck but it could also mean your money is less secure. However, banks often refuse bank accounts to customers who have a history of lower credit scores, or if the credit union reports they’re a risk based on their banking history.

Second chance checking accounts can be of vital help if you’re ever in this situation. Read on to learn more about what second chance checking accounts are and how they are useful.

What is Second Chance Checking?

People who have been denied access to checking accounts can apply for a second chance checking account. The approval requirements of these accounts are typically much lower and they give you a second chance at banking.

The biggest benefit is that banks and credit unions do not check your ChexSystems report and are usually willing to ignore past missteps. However, the responsible use of your second chance checking account will be noted in your ChexSystems report. You can get second chance checking accounts from regional banks, online banks and traditional banks.

Advantages of Second Chance Checking

It’s always best to carry out financial transactions through a Federally insured bank or a credit union. The following are some of the benefits of second chance checking accounts.


Customers who have a bad banking history can enjoy access to many banking conveniences through second-chance checking accounts. They allow high-risk banking customers to deposit paychecks or cash and even withdraw money using debit cards. It also helps the customer to avoid exorbitant fees using checking-cashing services.

Repair Damage

A second chance checking account gives customers a chance to redeem themselves by declaring them problem-free and repairing their checking account if the customer handles the account responsibly for six months to a year. This is an excellent way to rebuild your banking credibility.

Disadvantages of Second Chance Checking

A  second chance checking account has a few drawbacks as well.

Limited Functionality

Second chance checking accounts work for very few things. You might not be able to write checks in second chance checking, and the bank may set withdrawal and spending limits. Additionally, not all banks offer second-chance checking accounts. Additionally, you may not have access to features like overdraft protection. You may also have to attend a short course in money management before you are allowed to open a regular banking account or checking account.

Don’t be discouraged if the banks consider you a bad risk. Second chance checking can allow you to rebuild your banking history. Briteside Solutions can help you fight your financial hardship by educating and empowering you on financial restoration concepts. Visit our website to learn more about the services we offer.