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Colorado Second Chance Checking Accounts

  • Banking
Colorado Second Chance Banking:

Colorado second chance bank accounts offer a fresh start to people with past banking issues.

It’s estimated the unbanked can pay from 1-10% 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 that do not have access to banks.

Traditional banking is not only convenient but can save you money.

With second chance checking and Colorado banks that don’t use ChexSystems, your ChexSystems history won’t necessarily prevent you from opening an account.

Get back on track with easy day-to-day banking.

Colorado second chance checking accounts

Oxygen Personal Account


Oxygen makes it easier for individuals to open an online checking account, no ChexSystems, with an application that takes less than 10 minutes to complete. Oxygen is a fintech company that offers personal or business checking accounts that don’t use ChexSystems through its banking partner, FDIC-Insured Bancorp Bank.

Oxgen Account Features

  • No monthly fees, no minimum opening deposit, no minimum balance requirements.
  • Savings 0.25% APY.
  • Unlimited fee-free transactions.
  • 40K Fee Free Allpoint® Network ATMs Nationwide.
  • 2 Day Early Direct Deposit.
  • Earn cashback on everyday purchases at approved merchants.
  • Enjoy the power to create single-use or merchant-locked cards that mask your card details. Even send money to friends.
  • Cell Phone Protection.
  • Extended Warranty Protection.
  • Hotel Theft Protection
  • Auto Rental Collision Damage Waiver.
  • Lost Luggage Protection.

Chime Spending Account – Free overdraft up to $200


Chime will spot you up to $200 on debit card purchases with no overdraft fees. Eligibility requirements apply.¹ Chime’s Spending Account is similar to a traditional checking account but without check writing.

Banking is easy with Chime where customers can transfer money, send and deposit checks and pay bills with no monthly fees and no overdraft fees.

Open the optional savings account and Chime will round up your Visa Debit Card transactions to the nearest dollar and transfer it to your savings account.

Chime Spending Account Features

  • Get your direct deposit up to 2 days early.
  • Chime Visa® Debit Card.
  • Access cash at 60,000+ fee-free ATMs.
  • An optional savings account earns 0.50% (APY).
  • Leniency for people with previous checking account problems.

Academy Bank

This bank does use Chexsystems but is known to be lenient. There are a variety of checking accounts to choose from. Plus, you can put your savings on automatic when you enroll in the Saving Cents program that rounds up your purchases and puts the change in your savings.

AFBA

ChexSystems is used to screen accounts but for customers with direct deposit will be allowed to open an account if the records is less than $200 and at least 6 months old. For those of you without direct deposit they require the ChexSystems record not indicate fraud and it must be paid.

Bank of the West

Bank of the West does run a ChexSystems report but they have a second chance banking program called “Fresh Start.” Your Chexsystem listing must be older than one year and it cannot be for fraud. Basic checking has a $10 monthly fee but it is waived when you: Maintain an average monthly balance of $1000; Receive a direct deposit of $250; or Use your Bank of the West Debit Card for 10 or more purchases during each statement cycle.

Colorado State Bank and Trust

They offer 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.

Equitable Savings and Loan Association

They offer several checking account products, some of which earn interest. While they do not pull a ChexSystems report, they do pull a credit report if you apply for a debit card to go along with your checking account.

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.

Metrum Community Credit Union

Metrum credit union offers Second Chance Checking Accounts to those members who do not qualify for any standard checking accounts at other banks. The monthly service fee is $5 month. You may have to request the second chance checking account.

NuVista Federal Credit Union

NuVista Federal Credit Union offers the Last Chance Checking account. This checking account gives you the chance to build a banking relationship and then have the chance to move on to a no monthly fee checking account down the road. A $100.00 opening deposit is required and the monthly service fee is $10.

Key Bank

The Plus Check Cashing service is a type of second chance checking opportunity designed for customers who have been listed on ChexSystems.

Western Federal Credit Union

They offer a second chance account called Right Start Checking. Open with a $25 deposit and no minimum balance requirement. Pay no monthly or per-check fees and enjoy Overdraft Protection up to $250.

White Crown Credit Union

They do use Chexsystems but if the report does not show fraud and the reporting bank is paid, they will open the account, There should only be one reporting bank for best results.

Final thoughts

Past banking issues along with negative banking records can impact low- and middle-income households. Second chance banking will get you back on track even if you have bad credit.

A negative ChexSystems record can remain 5 years unless you successfully dispute ChexSystems to get it deleted. For consumers with an EWS record, it can last for 7 years unless you’re able to successfully dispute EWS.

Whether you choose a bank or credit union, take the time to build a solid banking relationship that will help you grow your money while maintaining a safe place to conduct daily expense transactions.

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