8 Banks With No Credit Check To Open an Account [November 2025]

When you have poor credit, you'll probably gravitate toward banks that don't check your credit when you open an account, and that also will help you make the most of your money. We recommend no-credit-check bank accounts, also called second-chance bank accounts, if you have bad credit.

You can find no-credit-check bank accounts with many national institutions, as well as regional banks and credit unions. Online banks and fintechs also provide these account options, including both checking accounts and savings accounts. So no matter how you like to bank, you can avoid checks you don't want.

Featured checking account with no credit impact

SoFi Checking and Savings

Visit SoFi Checking and Savings

Limited-Time Offer: +0.70% Boost on Savings APY for 6 months on new accounts with eligible Direct Deposit. Terms Apply.¹ <p>Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking &amp; Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>

5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

• Limited-Time Offer: Earn up to a $300 bonus and up to 4.30% APY on Savings (3.60% APY² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/" >sofi.com/banking</a>. SoFi Checking and Savings is offered through&nbsp;SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.¹ <p>Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking &amp; Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>
• No account, overdraft, or monthly fees³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early with direct deposit⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
• Access additional FDIC insurance up to $3 million⁵ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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Do banks check your credit when you apply for an account?

Most banks don't perform a hard credit check when you apply for a checking savings account, but many do look at your ChexSystems report. ChexSystems is like a report card for your banking behavior. It tracks deposit-account-related information like bounced checks, overdrafts, and account closures, and banks, credit unions, and other entities can request access to it. Banks use this information to assess the risk of allowing new customers to open bank accounts, but this report doesn't turn up credit details such as your credit score or debt. In other words, banks aren't looking to see whether you have bad credit. They're looking for flawed banking histories.

ChexSystems reports and credit reports are different, so having your ChexSystems history checked is different from having your credit checked (often referred to as a hard credit check or pull). No-credit-check bank accounts are an option to consider if you specifically want to avoid having your credit checked, and many banks that offer these accounts don't use ChexSystems.

Here are the checking accounts with no credit check that we recommend when you're banking with bad credit, along with the best ways to use them.

Best banks with no credit check

As you'll see, there's no shortage of bank accounts with no hard credit checks and no deposit requirements. There are also a few bank accounts we recommend that do have deposit requirements or monthly fees, but are still worth considering if you want to avoid hard credit checks.

We've reviewed dozens of no-credit-check banks and companies to put together this list of second-chance checking and savings accounts. Here are some of the easiest bank accounts to open online with bad credit.

Bank account	Best for	Checks credit?	Monthly fees	Overdraft protection
SoFi Checking and Savings	Savers focused on growing their money	No	None3 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>	No overdraft fees and overdraft coverage up to $50 with eligible direct deposit6 <p>Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A.&nbsp; The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking &gt; Savings &gt; Current APY or (ii) Banking &gt; Checking &gt; Current APY.&nbsp; Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.</p>
Truist One Checking	Seniors and young adults who might overdraw	No	$12 (can be waived)7 <p>The Monthly Maintenance Fee (MMF) can be waived for the Truist One Checking account for each statement cycle by:</p> <p><b>Option 1: Making $500 or more in total qualifying Direct Deposits per statement cycle.</b> A qualifying direct deposit is an electronic credit via ACH deposited to your account during the current statement cycle. Pre-authorized transfers made from one account to another or deposits made via a branch, ATM, online transfer, mobile device, debit card/prepaid card number or the mail are not eligible to meet this requirement.</p> <p><b>Option 2: Maintaining a total combined ledger balance of $500 or more in any Truist related accounts across personal deposits and all investments as reflected on the business day before your statement cycle end date.&nbsp;</b>A Ledger Balance is actual balance in your account on a specific day and does not reflect any holds or pending transactions. Your Total Combined Balance is the sum of all balances within the Truist personal deposit accounts (checking, savings, money market or CDs), IRAs or brokerage accounts introduced through Truist Investment Services, Inc. Related Accounts automatically includes all applicable accounts associated with primary and secondary account holders.</p> <p><b>Option 3: Having a personal Truist credit card, mortgage or consumer loan, including LightStream®. </b></p> <p><b>Option 4: Having a linked Small Business Checking Account.</b> Eligible Small Business account types include: Truist Dynamic Checking, Business Interest Checking, Simple Business Checking and Business Value 200.</p> <p><b>Option 5: Primary client is a student.</b>&nbsp;The waiver for a student requires they are listed as the primary account owner and they provide their anticipated graduation date. The waiver expires on the provided graduation date. On this date, the account is subject to the Monthly Maintenance Fee unless at least one waiver criterion is satisfied.</p> <p><b>Option 6: Primary client is under the age of 25 or age 62 and older.</b></p> <p>Truist Bank, Member FDIC. ©2025, Truist Financial Corporation. Truist, Truist Purple and the Truist Logo are service marks of Truist Financial Corporation.</p>	No overdraft fees and overdraft coverage (Balance Buffer) up to $1008 <p>The Balance Buffer is only available with Truist One Checking and allows clients to overdraw their account up to $100. There is no decision required as this feature is automatically available when a client qualifies.</p> <p>To <b><u>INITIALLY QUALIFY</u></b> for the Balance Buffer, the requirements below must be met:</p> <ul> <li>Account must be opened for a minimum of 35 calendar days</li> <li>Account must be funded with a positive balance</li> <li>A single direct deposit of at least $100 made within the last 35 calendar days</li> </ul> <p>To <b><u>REMAIN QUALIFIED</u></b> for the Balance Buffer, the requirement below must be met:</p> <ul> <li>A single direct deposit of at least $100 made within the last 35 calendar days.&nbsp; <b>After qualifying, if 35 calendar days pass without a Direct Deposit of at least $100, you will no longer have access to the Balance Buffer.</b></li> </ul> <p>For accounts that qualify for the Balance Buffer, once the account is overdrawn by $100, additional transactions will typically be declined or returned.</p> <p class="">For accounts that qualify for the Balance Buffer and also have Overdraft Protection, Truist will use the Balance Buffer first.&nbsp; If the account has neither, transactions that exceed the account balance will typically be declined or returned.</p>
Chime® Checking	People with bad credit	No	None9 <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p>	No overdraft fees and overdraft coverage up to $20010 <p>SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime® Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card.</p><br> <p>Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, but may later be eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s or its banking partners’ discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won’t cover non-card transactions. <a href="https://www.chime.com/policies/" style="background-color: rgb(255, 255, 255);">SpotMe on Chime Card Terms and Conditions</a>.</p>
Current11 <p><b>Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC.</b>.</p>	Teens with no credit	No	No membership fees12 <p>Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.</p>	No overdraft fees and overdraft coverage up to $20013 <p>Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive $500 or more in Qualifying Deposits into your Current Account over the preceding 30-day period. For more information, please refer to <a href="https://current.com/overdraft_protection_terms_of_service/" target="_blank" rel="noopener noreferrer">Fee-free Overdraft Terms and Conditions</a>. Individual Current Accounts only.</p>
Bank of America Advantage SafeBalance Banking®	Families and kids	No	$0 or $12	No overdraft fees, prevents overdrafts
Varo Bank Account	People who have had banking trouble	No	None	No overdraft fees, prevents overdrafts
Wells Fargo Clear Access Checking	College students	No	$0 or $5	No overdraft fees, prevents overdrafts
Chase Secure Banking	People who want to visit branches	No	$0 or $4.95	No overdraft fees, prevents overdrafts

SoFi® Checking and Savings

SoFi Checking and Savings

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5.0

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

• Earn up to a $300 bonus and up to 4.30% APY² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/" >sofi.com/banking</a>. SoFi Checking and Savings is offered through&nbsp;SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> on your money
• Limited-Time Offer: +0.70% Boost on Savings APY for 6 months on new accounts with eligible Direct Deposit. Terms Apply.¹ <p>Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking &amp; Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>
• No account, overdraft, or monthly fees³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early with direct deposit⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
• Access additional FDIC insurance up to $3 million⁵ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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on SoFi's secure website

SoFi®'s no-hard-credit-check account combines checking and savings under one metaphorical roof, making it one of the best options we've found for keeping your banking simple and your account applications to a minimum. We chose SoFi Checking and Savings for this list because we appreciate that you essentially get two bank accounts, checking and savings, with one application and zero hard credit checks. If you have bad credit, you can avoid unnecessary applications with SoFi while still enjoying a great account.

Avoiding fees and minimums is also important when you're working with a poor or mixed banking history. You won't pay any monthly maintenance, ATM,¹⁴ <p>We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.</p> , or overdraft fees for this account.³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> It also has no minimum opening deposit requirement, so you can open an account now and fund it later.

Other features of this account that make it favorable for no-credit-check banking are early access to your paychecks⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p> and overdraft coverage with eligible direct deposit. Both of these may help you avoid using a credit card or other form of debt when money is tight, which could help you clean up your credit.

Will SoFi check my credit if I apply for this account?

By its own word, SoFi won't perform a hard credit check when you apply for this account, but will use a soft credit check, which doesn't hurt your credit score, to obtain information about you. What it finds with its soft check won't generally impact your eligibility.

SoFi also won't use your ChexSystems report, which details your banking history, to decide whether you qualify for an account.

Visit SoFi | Read our SoFi® review

Truist One Checking

We chose Truist for this list not only because the no-credit-check bank offers access to in-person locations, unlike the online banks we've chosen, but also because Truist One Checking doesn't charge any overdraft fees (which is unusual in a brick-and-mortar bank, and especially nice if you're in a tight spot with money). And its Balance Buffer can give your account an extra cushion of up to $100 for unexpected charges.

We don't love the $12 monthly maintenance fee, but there are six ways to waive it. You can:

• Maintain a combined monthly average balance of $500 or more across eligible Truist accounts.
• Make $500 or more in total qualifying direct deposits per statement cycle.
• Have a Truist credit card, mortgage, or loan (not Lightstream).
• Have a linked Small Business Checking account.
• Be younger than 25.
• Be age 62 or older.

All in all, this is a pretty basic bank account with no credit check, but it's an especially great option if you want to avoid overdraft fees. And if you can qualify to waive the monthly fee, perhaps because you're under 25 or over 62, you're a good fit.

Truist is FDIC insured.

Read our Truist review.

Chime® Checking

Chime®

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4.9

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best for Bad or No Credit

• No minimum balance, no monthly service fees⁹ <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p>
• Get your paycheck up to 2 days earlier with direct deposit¹⁶ <p> Early 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.</p>
• Eligible Members can access fee-free overdraft up to $200¹⁰ <p>SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime® Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card.</p><br> <p>Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, but may later be eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s or its banking partners’ discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won’t cover non-card transactions. <a href="https://www.chime.com/policies/" style="background-color: rgb(255, 255, 255);">SpotMe on Chime Card Terms and Conditions</a>.</p>
• 50K+ fee-free ATMs nationwide¹⁷ <p>Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.</p>
• Automatic savings helps you grow your money faster¹⁸ <p>You can automatically transfer part of your direct deposits of $1 or more from your Checking Account into your selected Chime account(s).</p>

Learn More

on Chime's secure website

There's a lot we like about Chime for people with bad credit, including its credit-building tools and the fact that its checking account doesn't use ChexSystems when you apply for an account. This checking account also has no monthly service fees or overdraft fees⁹ <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p> , and its SpotMe® feature offers a fee-free overdraft of up to $200 for eligible members.

To be eligible, you have to receive a single deposit of $200 or more in qualifying direct deposits to a Chime checking account. Having your paycheck directly deposited to this account will take care of that requirement.

If you're open to another account with the fintech, I especially like the Chime^® Credit Builder Secured Visa^® Credit Card, and that definitely would have come in handy for me during the years I spent rebuilding my credit.¹⁹ <p class="">Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC.&nbsp;<br></p> This can help you work on rebuilding your credit, which a checking account alone can't do.

I don't love that Chime's savings account only has a 1.00% APY on savings account balances.²⁰ <p class="">The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of 10/16/25. No minimum balance required. Must have $0.01 in savings to earn interest.&nbsp;</p> Note that you can't open a savings account without opening a Chime checking account.²¹ <p class="">Chime Checking Account is required to be eligible for a Savings Account.<br></p> There are higher savings APYs at online companies like SoFi, but if you want to keep all your funds in one place, it's not the worst savings APY either.

Chime, like many financial institutions, offers FDIC insurance up to $250,000 per depositor through its banking partners, The Bancorp Bank, N.A. and Stride Bank, N.A..

Visit Chime | Read our Chime review.

Current

Current

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4.6

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

• High APYs on up to $6,000 in savings
• Online-only banking service¹¹ <p><b>Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC.</b>.</p> offering individual and teen accounts
• Get paid up to 2 days faster with direct deposit²² <p>Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer's submission of deposits.</p>
• No monthly maintenance fees¹² <p>Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.</p>
• FDIC Insured through Choice Financial Group

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For teens looking to start building credit while banking, Current is a strong choice.²³ <p>You may earn Points in connection with your everyday spending and by completing other actions that Current designates as subject to the Current Points Program. The amount of Points granted for different actions as well as the purchase requirements necessary to earn Points will vary, and is subject to Current’s sole discretion. After qualifying, please allow 3-5 business days for points to post to your Current account. The Current Points program is not available to Teen Account holders. See Current Points Terms and Conditions.</p> The fintech offers one bank account, like SoFi, but a host of benefits for accountholders, especially those looking to avoid hard credit checks. The reason we recommend a Current account for teens is that anyone can build credit with the account's linked secured credit card. Using the Current Build Visa^® Credit Card, you could make regular monthly payments that get reported to the credit bureaus.²⁴ <p><b>Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC</b>. The Current Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.</p> Even ATM swipes count in some instances. Parents do need to open accounts for teens, though.

As you use your Current Visa secured credit card, you can earn 1X on dining and grocery purchases. This is one of the best bank accounts for anyone who wants to build credit without the credit checks required for many traditional credit cards.

You'll qualify for $250,000 in FDIC insurance on your bank accounts through Choice Financial Group and Cross River Bank. FDIC insurance doesn't extend to Current's crypto offerings.

You'll pay no monthly membership or annual account fees with Current, and you could earn up to a 4.00% bonus on your savings, but this requires a monthly $200 direct deposit. This is lower than Varo's direct deposit requirement to earn the highest APY, so it's definitely competitive.

Visit Current | Read our Current review

Bank of America Advantage SafeBalance Banking®

Bank of America Advantage Banking

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4.8

FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

• Up to $500 cash offer. Click 'Learn More' for more details
• Multiple ways to waive the monthly maintenance fee
• Thousands of ATMs and financial centers
• 24/7 security with Total Security Protection® and fraud monitoring
• Bank of America, N.A. Member FDIC

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If you like being able to easily deposit cash or talk to a live human being, Bank of America is a good choice. The product we love most from Bank of America Advantage Banking is its SafeBalance for Family Banking account. This is a family-friendly version of the standard Advantage SafeBalance Banking account, offering mobile banking to children as young as six, with features commonly found in kids' debit cards, such as parental controls and monitoring.

Every version of this account a relatively modest monthly maintenance fee of $4.95, with options for a $0 monthly fee instead if you or your child are under 25, you keep a minimum daily balance of $500, or you're a member of Bank of America Preferred Rewards®.²⁶ <p>Bank of America Advantage SafeBalance Banking® Monthly Maintenance Fee: $4.95 or $0 —&nbsp;No monthly maintenance fee when you meet one of the following: • an owner of this account is under the age of 25 or • maintain a minimum daily balance of $500 in your account or • are a member of Bank of America Preferred Rewards®;&nbsp;Bank of America Advantage Plus Banking®&nbsp;Monthly Maintenance Fee: $12 or $0 –&nbsp;No monthly maintenance fee when you meet one of the following: • have at least one qualifying direct deposit of $250 or more or •maintain a minimum daily balance of $1,500 in your account or • are a member of Bank of America Preferred Rewards®;&nbsp;Bank of America Advantage Relationship Banking®&nbsp;Monthly Maintenance Fee: $25 or $0 – No monthly maintenance fee when you meet one of the following: • maintain a minimum daily balance of $20,000 in your account or • are a member of Bank of America Preferred Rewards®.</p>

Like the best second-chance banking accounts, this account doesn't charge overdraft item fees. It requires a minimum deposit of $100 to open.²⁷ <p>Minimum opening deposit: $25 for Bank of America Advantage SafeBalance Banking®, $100 for Bank of America Advantage Plus Banking ® and Bank of America Advantage Relationship Banking®.&nbsp;</p>

Bank of America accounts are insured by the FDIC up to $250,000 per depositor.

Visit Bank of America | Read our Bank of America Advantage Banking review

Varo Bank Account

We recommend all the banks on this list for second-chance banking, but Varo is one of the best options we've found for this because of the many ways it encourages you to improve your finances and offers to help you when you're in a bind. Between its free online checking account, automated savings features, cash advances, and credit-builder card, you can work on whatever you need to tackle to get your credit and overall financial health in a better place.

Like other companies on this list, Varo has no fees on either of its savings or checking accounts. And while its 5.00% (as of 05/27/25) APY promise on its savings account is inviting at first, do be aware that only the first $5,000 in deposits qualify. Still, you'll earn a decent APY of 2.50% (as of 05/19/25) on deposits after that threshold. And you need to receive qualifying direct deposits of $1,000 or more each month to get the highest APY. Those are pretty steep requirements, especially compared to a company like SoFi, which only requires direct deposit, but no specific amount.

More importantly, Varo offers a cash advance of up to $500, which is twice as much as competitor Chime. You start with anywhere from $20 to $250, based on your account history and other factors, and then you could potentially work your way up to $500. You do need to have at least $800 in qualifying direct deposits during the current or previous month to qualify.

As for FDIC insurance, Varo Bank, National Association (Cert. #59190) provides each depositor with $250,000 in coverage.

Visit Varo  | Read our Varo review

Wells Fargo Clear Access Banking

Wells Fargo might not be the first bank you think of for beginner banking, but it should be one you consider if you're a student. Wells Fargo Clear Access Banking is an ideal student account because it's specifically geared toward a younger crowd (and people looking for second-chance checking), and you can even open the account as a minor without a parent. If you're 17, you can visit a branch and open it on your own. If you're between 13 and 16, you'll need an adult as a joint owner.

Account owners under 24 automatically have the $5 monthly maintenance fee waived, plus those with linked Wells Fargo Campus ATM or Debit Cards. Unlike many accounts with waivable monthly fees, you can't actually avoid the fee by maintaining a certain balance.

This account is one of the only ones we're including on our list with a minimum deposit requirement, but there's no minimum to keep the account or avoid extra charges. Right now, this account offers a welcome bonus of up to $125 if you open a new account with at least $25 and make 10 qualifying transactions within 60 days. This offer is valid until October 15, 2025. If you open an account in person, sign up for a bonus offer code first and present it to a banker.

Read our Wells Fargo banking review.

Chase Secure Banking

Another big bank, Chase also offers an option for second-chance banking in the form of its Chase Secure Banking account. This account is designed to help you avoid negative balances. It charges no overdraft fees, unlike all other Chase accounts, and only offers overdraft protection in the form of declining transactions that would cause a negative balance. Don't have it? Can't spend it.

There's only one way to avoid the account's $4.95 monthly fee. You have to receive at least $250 in qualifying electronic deposits each statement period, which can include payroll deposits or government benefits. But if you're someone who occasionally overdrafts with your current account, you already know that overdraft fees each cost several times more than this modest fee, which might be worth paying. You could choose this account if you want to avoid negative balances altogether, rather than be allowed to overdraw up to a certain limit (as many options on this list, including SoFi, Chime, and Current, offer).

What stands out as this account's greatest strength is its in-person access. Whether you like to visit bank branches to make friends with tellers or just make the occasional cash deposit, Chase is a good option no matter where you are in the country. The big bank boasts more branches than any institution, with around 5,000 locations in the U.S.

Read our Chase Bank review.

How to choose a no-credit-check bank account

Some accounts are better than others if you have bad credit or an imperfect banking history and want to avoid checks when opening an account. Consider all of these features when comparing second-chance bank accounts you can open with bad credit.

• Focus on second-chance bank accounts: As a general rule, ensure you're specifically looking for second-chance checking or savings accounts when you want to avoid credit or ChexSystems checks.
• Avoid minimums and monthly fees when you can: If you're working on repairing your credit, you don't want to add unnecessary expenses or stressors to your budget. Look for checking accounts with no fees and minimums (or low fees and minimums).
• Check for overdraft protection: Many of the best no-credit-check bank accounts charge no overdraft fees, but some protect you from overdrafts by simply declining them. In contrast, others offer overdraft coverage to let you spend beyond your balance up to a limit. Consider what's safe for you when comparing banks with overdraft protection.
• Look for banks that offer credit support: Many companies and banks that provide second-chance banking also offer credit-monitoring tools via their mobile apps or credit-building accounts, such as secured credit cards.
• Prioritize features to help you save: If you're reckoning with debt that might be driving your poor credit, make it a priority to save what you can, when you can. That can help you repay your debt and clean up your budget. Look for bank accounts with automated savings tools, the ability to create goals, and high interest rates.
• Consider how you want to access your account. If you don't mind banking online or using a mobile app, online banks and fintechs will be suitable for you. But if you want the option to visit bank branches, you'll need to go with a brick-and-mortar bank.

Can you open a checking account with bad credit?

Yes, it's entirely possible to open a bank account with bad credit. Banks don't typically factor your credit score into decisions about your application for a checking or savings account, and even an imperfect ChexSystems report won't always keep you from qualifying for and opening a new bank account.

If you've had trouble with banking in the past, maybe because you've had accounts with consistently negative balances or unpaid fees, prioritize bank accounts that don't use ChexSystems so you aren't denied for an account. These are often referred to as second-chance bank accounts.

We've researched dozens of institutions and banks without credit checks to find the best no-credit-check bank accounts. Online-only banks and fintechs stood out in our research for offering excellent perks without requiring hard credit checks or deposits. However, some in-person banks also offer accounts that are ideal for second-chance banking. Note that while second-chance checking accounts don't necessarily guarantee approval for everyone, they could make it easier for more people to qualify.

Credit reports vs. ChexSystems reports

How to build or improve your credit

Building credit requires patience and strategy. Whether you're looking to qualify for better loan rates, secure a rental agreement, or simply improve your financial health, taking steps to boost your creditworthiness can open doors. Here are a few ways to improve or repair your credit.

Create a budget

One of the first steps you should take when setting out to improve your credit or establish it for the first time is to create a spending plan. With a budget or spending plan in place, you can better manage your expenses, work to reduce your debt, and be more likely to avoid debt (and the pitfalls that come with it).

Consider signing up for a budgeting app such as Quicken Simplifi, Monarch Money, or Rocket Money to help you track your spending and set budgeting goals.

Pay your bills on time

Paying your bills, credit card payments, and loan payments on time can go a long way in improving your credit score. Payment history is a major factor in determining your creditworthiness.

Reduce your credit card balances where possible

Your credit utilization ratio, which is the amount of potential credit you have versus how much of that credit line you are actually using, also affects your score. Try to keep your credit card balances low relative to your credit limit, ideally no more than 30% of your available credit.

Avoid opening too many accounts

Opening multiple new credit accounts within a short period can lower your average account age and potentially cause a dip in your credit score. Be cautious about applying for new credit unless necessary.

Don't close your old accounts

Older accounts can help improve credit scores because they extend your overall borrowing history, and the age of accounts is another factor affecting your score. Closing old credit cards can also cause your credit utilization rate to increase, as you have less available credit. Even if you never use a line of credit, keeping it open can help mature your credit age over time.

Monitor your credit report

Regularly checking your credit report can help you identify any errors or fraudulent activity that may be affecting your credit score. You can request a free copy of your credit report from each of the three major credit bureaus once a year. You could also sign up for a credit monitoring service such as Credit Karma or Credit Sesame, where you'll get free access to your credit score, reports, and monitoring. 

Alternatively or additionally, many banks offer free credit score monitoring.

FAQs

Featured Checking Accounts

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FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

SoFi Checking & Savings - Earn Up to $300 When You Set Up Direct Deposit

Limited-Time Offer: Earn up to a $300 bonus and up to 4.30% APY on Savings (3.60% APY² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/" >sofi.com/banking</a>. SoFi Checking and Savings is offered through&nbsp;SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.¹ <p>Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking &amp; Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> FDIC Insured.⁵ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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Ask the experts

No-credit-check bank accounts create new pathways toward financial inclusion. We recently asked a panel of experts what this trend means for consumers and how it could shape the future of finance. Here's what they had to say.

Why are banks that don't require credit checks important? Who are they good for?

Roxanne Alexander, CFP®, AIF®, CAIA, ADPA®

Wealth Manager & Principal | Evensky & Katz | Foldes Wealth Management

They are important for financial inclusion, as many people have no credit history or a limited credit history. Traditional banks may deny applicants with poor credit or those recovering from financial hardship, such as medical debt or past bankruptcy. These types of banks can also be an option for students, younger people with limited credit history, or people who are paid irregularly.

Gregory Germain

Professor of Law | Syracuse University

"No check" accounts are really for people who have serious red flags on their credit report or on Chex-Systems and cannot qualify for a regular account. "No check" or "second chance" banks and credit unions may allow you to open an account when other banks would not because of your bad prior conduct. They usually want some showing that you've changed your ways, and often the accounts have inferior terms and high fees. So "no check" accounts are a way for people who got in real trouble to re-enter the banking system.

Elaine Luther, D.Sc.

Professor, Business Management | Point Park University

Four to six percent of US households are considered to be unbanked or underbanked, which means they do not have full or even any access to bank accounts or credit cards, for a variety of reasons. Often because of too many overdrafts, unpaid fees, or other financial missteps.

No-credit-check banks can allow people to rebuild their financial history, as well as enable them to take advantage of lower fees for banking services and more favorable pricing.

Guan Jun Wang, Ph.D.

Professor of Finance in the McAfee School of Business | Union University

Most banks don't require a credit check to open checking or savings accounts, but they often do when it comes to opening credit accounts, such as credit cards or lines of credit. Banks that don't require credit checks are especially important for individuals with no credit history or poor credit scores. Without these banks, such individuals might be denied access to essential financial products. By offering services without credit checks, these banks give people the opportunity to access credit, build a positive payment history, and improve their credit over time.

How can a no-credit-check bank account help someone rebuild their financial health or improve their credit over time?

Roxanne Alexander, CFP®, AIF®, CAIA, ADPA®

Wealth Manager & Principal | Evensky & Katz | Foldes Wealth Management

People with no credit or poor credit often turn to high-risk, high-fee services, such as payday loans or check cashing stores. These types of banks offer a safer, more affordable alternative. They also don't penalize individuals for a low credit score.

Guan Jun Wang, Ph.D.

Professor of Finance in the McAfee School of Business | Union University

Banks that don't require credit checks give individuals with no credit or poor credit the opportunity to access financial products. By using these accounts responsibly, such as making payments on time and managing balances, they can gradually build a positive credit history and improve their overall financial health.

Giacomo Santangelo, Ph.D.

Senior Lecturer of Economics | Fordham University

These "second chance" bank accounts do not help individuals improve their credit scores, as they are not reported by Equifax, Experian, and TransUnion, fundamentally limiting their rehabilitative capacity. The primary pathway to credit operates through banking relationship re-establishment and the elimination of reliance on check-cashing services that can charge substantial transaction fees.

Industry analysis indicates no-credit-check accounts typically have higher fees and interest rates than regular checking accounts, but remain a better option than prepaid debit cards or check-cashing services, which approach predatory pricing levels. The critical danger emerges from consumer misconceptions regarding credit building (i.e., individuals may delay pursuing secured credit products or debt repayment strategies while incorrectly assuming these accounts directly improve creditworthiness, potentially extending financial recovery timelines).

Do no-credit-check bank accounts offer the same financial protections and benefits as traditional ones?

Gregory Germain

Professor of Law | Syracuse University

If you want an account with a bank or credit union, make sure that the entity is directly insured by the FDIC or NCUA. There are many "fintech" companies offering accounts that look like bank accounts and say that they provide FDIC or NCUA insurance, but they are not directly insured institutions. Instead, they are supposed to put your money into an FDIC or NCUA-insured institution and provide record-keeping services. You are depending on them to deposit your money in a true insured bank account. They may be perfectly safe and may provide the services you need, but they are not directly insured and government-regulated, so there is a risk that your money may be lost if the fintech company does not make the deposits into an actual insured bank and keep proper records. So be careful.

Elaine Luther, D.Sc.

Professor, Business Management | Point Park University

It is important to review and compare all of the terms, including requirements and fees, for the bank accounts being considered. It is also important to ensure that the banks provide FDIC protection. Focus on requirements for minimum balances, or initial deposits, check, ATM, overdraft, and other fees, and access to other services such as online banking, debit, or credit cards. An internet search for no-credit-check banks will provide the information required to make an informed search. But ultimately, finding a neighborhood bank that you have easy access to might be a good place to start.

Guan Jun Wang, Ph.D.

Professor of Finance in the McAfee School of Business | Union University

Most no-credit-check bank accounts offer the same essential financial protections as traditional accounts, such as FDIC insurance, which safeguards deposits up to the legal limit. However, they may come with fewer benefits, such as limited access to overdraft protection, lower daily transaction limits, or reduced eligibility for rewards and premium features.

Giacomo Santangelo, Ph.D.

Senior Lecturer of Economics | Fordham University

No-credit-check accounts maintain equivalent FDIC insurance protections up to standard coverage limits, ensuring deposit security parity with traditional banking products; however, significant service disparities exist. These accounts usually have monthly fees that cannot be waived, and they often carry more requirements than standard checking accounts, such as setting up direct deposit or completing a money management class.

The greatest risk involves accounts operating outside traditional standards, where monthly fees can skyrocket and which may not issue debit cards or checks to account holders, creating potential for exploitative fee structures that could result in worse financial outcomes than remaining unbanked, particularly for consumers unable to maintain minimum balance requirements or navigate complex fee-avoidance mechanisms.

Bottom line

To choose the best bank account for bad credit, consider account requirements and fees, other banking services, in-person and online access, and more. Varo, Truist, Bank of America, and Chime are just a few options we recommend, but you can also check with your local bank or credit union to see if it offers second-chance banking with no credit checks. A reputable prepaid debit card could be an option as well. 

Make sure you're also taking steps to build your credit and working on improving your credit score, so that you have more borrowing and banking flexibility down the road.

Reach Your Savings Goals Faster

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FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

2025 award winner Best Checking and Savings Combo

SoFi Checking and Savings Benefits

• Limited-Time Offer: Earn up to a $300 bonus and up to 4.30% APY on Savings (3.60% APY² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="https://www.sofi.com/banking/" >sofi.com/banking</a>. SoFi Checking and Savings is offered through&nbsp;SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> with +0.70% APY Boost) for 6 Months on new accounts with eligible direct deposit. Terms Apply.¹ <p>Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking &amp; Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p>
• No account, overdraft, or monthly fees³ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
• Get your paycheck up to two days early with direct deposit⁴ <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>
• Access additional FDIC insurance up to $3 million⁵ <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.&nbsp;Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at&nbsp;<a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>

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FinanceBuzz writers and editors score products and companies on a number of objective features as well as our expert editorial assessment. Our partners do not influence our ratings.

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