Finding the best free banks in Colorado 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 Colorado 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 Colorado 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 Louisiana
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 Colorado
Academy Bank
The Safe Spending Checking Account is designed to let you bank without having to worry about Overdraft fees. The minimum opening deposit is $25 and the monthly service fee is $5.
Bank of Oklahoma
Bank of Oklahoma offers an account called “Opportunity Checking” that is designed to let you start over even though you have a ChexSystems record. The minimum opening deposit is $25 and the monthly service fee is $5.
CityWide Banks
CityWide Banks offers an account called “Check Free Banking” that that has no overdraft or non-sufficient funds fees, and includes mobile budgeting apps. The minimum opening deposit is $25 and the monthly service fee is $5.00.
Commercial Bank and Trust Company
Bank On Checking that has no overdraft or non-sufficient funds fees, and includes mobile apps. The minimum opening deposit is $25 and the monthly service fee is $5.00.
Horizon Bank
The Fresh Start checking account has no minimum opening balance but has a $5 monthly service fee.
Key Bank
The KeyBank Hassle-Free Account® Checkless account has no monthly maintenance fees and only requires a $10 opening deposit.
PNC Bank
The PNC Foundation Checking Account has a minimum opening deposit of $25 and the monthly service fee is $5.00.
Sunflower Bank
The Achievement Checking Account has a minimum opening deposit of $25 and the monthly service fee is $5.00.
Vectra Bank
The On Budget Checking Account has a minimum opening deposit of $25 and the monthly service fee is $5.00.
Second Chance Credit Unions in Colorado
Bellco Credit Union
The Simplicity Checking 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.
Colorado State Bank and Trust
Colorado State Bank offers Opportunity Checking designed to give you a fresh start from past financial challenges. The monthly fee is $9.95 with direct deposit and $14.95 without direct deposit.
Liberty Savings Bank
If you’ve had financial problems in the past Liberty Savings Bank offers a Clean Slate Checking account. After 12 consecutive months of no NSF occurrences you can upgrade to a Liberty checking account of your choice.
NuVista Federal Credit Union
The Last Chance Checking account requires a $100.00 opening deposit and has a $10 monthly service fee.
Power Credit Union
The Empowered 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.
Colorado Unbanked Numbers
According a Federal Deposit Insurance Corporation (FDIC) 2021 Survey, 6% of Colorado’s residents were unbanked. It’s estimated that unbanked people pay up to 10% of their salary for check cashing services. Colorado fares better than the national average of unbanked or underbanked households in America, but there are still too many Coloradans without access to traditional banks that offer 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.
