Do You Have 100% Approval Rate With Second-Chance Bank Accounts? Let’s Find Out

Do You Have 100% Approval Rate With Second-Chance Bank Accounts? Let’s Find Out

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Do not despair if your banking history is not in a good shape. Luckily, there are so many reliable alternatives available now that can help you get your credit standing back on track and fix the relationship with different banking institutions. 

However, since most of these choices are relatively new, many customers are still unaware of how they actually work. For example, people think that credit unions that don’t use ChexSystems automatically promise a 100% approval rate. 

Is That True? 


Although such financial institutes have relaxed terms of applications and account opening, they still have to scrutinize a new customer before giving a green signal. 

Typically, credit unions and second-chance bank accounts will not make a big fuss about your credit history, previous bankruptcy, and on-going financial situation but any major red flag such as a legal issue or fraud may still result in the decline of your application. 

Moreover, even these checking accounts come with certain terms and conditions. This may include a minimum least deposit requirement or minimum balance requirement in the account at all times. 

Therefore, if your request is turned down then there may be many different reasons contributing to this decision. The bottom line is that this is still possible! 

Are You Looking for Alternatives That Guarantee Approval? Check This Out! 

If you were a little disappointed to read what we have just discussed above then here is a piece of good news: You can explore some other options that have the highest approval rates and are good back-up plans for when you cannot score an approval for a bank account. 

1. Prepaid Debit Cards and Reloadable Cards 

Debit cards or reloadable cards always come in handy when you are having trouble managing your expenses. They work by depositing a certain amount of money and utilizing these funds till they are exhausted. After this, you can reload them at any store or even online. 

Such cards can be used to transfer money to other accounts, accept funds from other sends, shop online, pay bills, and make emergency payments whenever necessary. 

The best part is that you would not need to worry about being rejected. Debit cards and reloadable cards are open to all account holders and newbies. They generally do not have any strict application rules either. You can apply for one today and start using it as soon as it arrives at your doorstep. 

2. Online Services 

There are some online money management services as well. These let you create online accounts and deposit your funds there for easy usage. Similar to reloadable cards, this option is open to all and offers easiest approval. 

Platforms like PayPal and Cash App are examples of online payment services that you can access whenever needed. They are backed up by Cash Cards that work exactly like debit cards if you want to hold some plastic in your wallet. 

Note! Although this isn’t possible for all types of applications, foreign bank accounts are another alternative that can prove to be quite helpful. They can be a spot to stash away your savings. Moreover, each country has its own requirement for opening a bank account and foreign account means they won’t check your ChexSystems report at all. 

Wrap Up 

Struggling banking history can be tough to deal with if you are not aware of the right places that could help you. Second-chance bank accounts or banks that don’t look into ChexSystems report are a good place to start but it is not the end of the world. If you are turned down then there are still some other alternatives that you could look into instead. 

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