Finding the best free banks in New York depends on your banking needs. Whether your priority is interest-bearing checking accounts, high-yield savings, a variety of banking products, digital banking or physical branches, there is a bank in New York that can meet your requirements.
However, if you’re unable to open a checking account due to ChexSystems or Early Warning Services (EWS) records, we also compiled a list of second chance banks in New York that offer an opportunity to build a new banking history.
Keep in mind there will likely be a monthly service fee associated with second chance banking accounts.
Online Second Chance Banks in New York
Upgrade Rewards Checking
$0 minimum to open
Up to 2% cash back on purchases
Get paid up to two days early
More than 55,000 free ATMs
SoFi Bank
$50 minimum deposit
Welcome bonus up to $300
No monthly maintenance fees
Get paid up to two days early
55,000+ fee-free ATMs
Acorns
$25 minimum deposit
Earn 2.57% APY on Checking and 4.05% APY on Emergency Fund
Get paid up to 2 days early
Tungsten metal debit card
55,000+ fee-free ATMs
Current Banking
$0 minimum to open
4% APY on savings up to $6,000
Get paid up to two days early
Up to $750 cash advance
Credit building secured card
mph.Bank - Second Chance Fresh Account
$9.00 a month service fee
Zelle® Integration
Get paid up to two days earlier
55,000+ free AllPoint ATMs
Second Chance Banks in New York
Apple Bank
The BasicValue Checking requires a $10 opening deposit and a $0 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Armed Forces Bank
The Safe Spending Account requires a $25 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Bank of Holland
The Smart Start Account requires a $0 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Berkshire Bank
The MyFreedom Checking Account requires a $10 opening deposit and a $0 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Citizens & Northern Bank
The C&N Simple Debit Account requires a $25 opening deposit and a $0 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Fifth Third Bank
The Fifth Third Express Account requires a $0 opening deposit and a $0 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
First National Bank of Long Island
The First Checking Account gives you access to free online banking, mobile deposit, bill pay and account alerts.
Kearny Bank
The Simple Checking Account requires a $25 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Key Bank
The KeyBank Hassle-Free Account® Checkless account has no monthly maintenance fees and only requires a $10 opening deposit.
Lakeland Bank
The Bank On Lakeland Account requires a $25 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
M&T Bank
The MyWay Banking Account requires a $25 opening deposit and a $4.95 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
NBT Bank
The NBT iSelect Account requires a $25 opening deposit and a $0 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
New York Community Bank
The My Community SimplyOne Checking requires a $1 opening deposit and a $0 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Popular Bank
The Popular Easy Access Checking requires a $25 opening deposit and a $4 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Salisbury Bank
The e-Z Account requires a $0 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Thompkins Community Bank
The Smart Spend Checking requires a $0 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Ulster Savings
The Bank Smart Checking requires a $25 opening deposit and a $3 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Valley Bank
The Journey Checking requires a $25 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Watertown Savings Bank
The Opportunity Checking Account requires a $25 opening deposit and a $5 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
Second Chance Credit Unions in New York
Watertown Savings Bank
The Fresh Start Checking Account requires a $0 opening deposit and a $6 monthly service fee. You’ll have free access to online banking, mobile deposit, bill pay and account alerts.
UFirst Federal Credit Union
The Visa Everyday Spending Card requires a $0 opening deposit and a $0 monthly service fee. The debit card works like a checking account where you can make purchases, pay bills, get cash at the ATM, except it is not a traditional checking account.
New York Unbanked Numbers
According a Federal Deposit Insurance Corporation (FDIC) 2021 Survey, 5.9% of New York’s residents were unbanked. New York ranks among the highest in unbanked households in America. It’s estimated that unbanked people pay up to 10% of their salary for check cashing services. Being unbanked makes it almost impossible to perform common financial transactions without paying some type of fee unlike people with free checking accounts.
ChexSystems Resources
- Banks That Don’t Use ChexSystems – Take a look at our list of banks that do not use ChexSystems for a new checking account.
- EWS (Early Warning Services) – EWS is similar to ChexSystems and can prevent you from opening a checking account.
- Check your ChexSystems Report – Unsure what information exists in your ChexSystems report? Learn how to find out.
- ChexSystems Scores – Did you know that you have a ChexSystems score similar to a credit score? Find out how to get yours.
- Account Abuse – Find out why ChexSystems often reports customers for account abuse with no real explanation of what that notation means.
