Bad credit / second chance banking

Editor's choice

Personal

Our pick when you are opening a new personal account.

Editor's choice

SoFi Checking and Savings

SoFi Bank, N.A.

Bank

Monthly fee

$0No account, service, or maintenance fee. Outgoing wires, Instant Transfers, and global remittances are charged separately.as of Oct 30, 2026 source

APY

3.30%Savings APY with eligible direct deposit, as of Oct 20, 2026. No minimum balance. New members can get a 1.10% boost for up to 6 months, up to 4.40%, if they qualify.as of Oct 30, 2026 source

Sign-up bonus

Up to $400Direct deposit bonus through Dec 31, 2027. $50 if eligible deposits total $1,000 to $4,999.99 in 25 days. $400 at $5,000 or more. $0 below $1,000. One bonus per member.as of Oct 30, 2026 source

Min. deposit

$0as of Oct 30, 2026 source

• No monthly fee
• 3.30% savings APY with direct deposit
• Up to $400 direct deposit bonus

Open account for SoFi Checking and Savings, opens in a new tabRead review of SoFi Checking and SavingsCompare SoFi Checking and SavingsCompare

What matters for you

• Banking history
• Fresh start
• Fee check

Accounts to compare

Listed alphabetically. This is not a ranking. The editor's choice above is our recommendation for opening a new account. Fees, rates, and bonuses are copied from each provider's site and dated. How we review

• Best for No-fee checking with a savings rate

  Chime

  Chime

  Fintech

  Monthly fee

  $0No monthly service fee and no minimum balance on checking. Out-of-network ATM withdrawals are $2.50.as of Oct 30, 2026 source

  APY

  1.00%Standard savings APY as of Oct 6, 2026. Chime Plus is 3.00% and Chime Prime is 4.00%. You need $0.01 in savings to earn interest. Checking is required to open savings.as of Oct 30, 2026 source

  Sign-up bonus

  Noneas of Oct 30, 2026 source

  Min. deposit

  $0as of Oct 30, 2026 source

  • No monthly fee
  • No overdraft fee
  • Savings APY from 1.00%

  Open account for Chime, opens in a new tabRead review of ChimeCompare ChimeCompare
• Best for Early pay and a savings boost

  Current

  Current

  Fintech (banking by Choice Financial Group, Member FDIC, and/or Cross River Bank, Member FDIC)

  Monthly fee

  $0The June 22, 2026 deposit agreement does not list a monthly service fee. A $5 inactivity fee can apply after 12 months with no transactions.as of Oct 30, 2026 source

  APY

  4.00%Savings Pod boost on the first $2,000 in each of up to 3 pods, if you receive at least $200 in qualifying direct deposits. Otherwise 0.25%. Balance above that cap earns 0.00%.as of Oct 30, 2026 source

  Sign-up bonus

  Noneas of Oct 30, 2026 source

  Min. deposit

  $0as of Oct 30, 2026 source

  • No monthly service fee listed
  • Savings Pods up to 4.00%
  • Early direct deposit

  Open account for Current, opens in a new tabRead review of CurrentCompare CurrentCompare
• Best for A free account with a savings rate you can raise

  Varo

  Varo

  Bank

  Monthly fee

  $0No monthly, maintenance, or minimum-balance fee on the bank account. Out-of-network ATM withdrawals are $3.50.as of Oct 30, 2026 source

  APY

  1.00%Standard savings APY. Qualify for 3.75% on the first $5,000 the next month with $800 in direct deposits and a positive balance in all Varo accounts. Accurate as of Oct 5, 2026 on Varo's disclosures.as of Oct 30, 2026 source

  Sign-up bonus

  Noneas of Oct 30, 2026 source

  Min. deposit

  $0as of Oct 30, 2026 source

  • No monthly fee
  • Up to 3.75% savings APY
  • No minimum balance

  Open account for Varo, opens in a new tabRead review of VaroCompare VaroCompare

How to choose

• Ask the provider whether it reviews a deposit-account report, and request your own report if you want to see it first.
• Compare monthly fees and the path to a standard account later.
• We do not label an account second chance until that description is on the provider's own page.

Related guides

• Second chance checking, explainedWhat second chance checking is, how a deposit-account report differs from a credit score, and what to ask before you pay a higher fee.