ChexSystems serves as a guaranteed system that helps financial institutions detect those who have been involved in fraudulent practices or identity theft, but getting caught in the system can have disastrous consequences.
For the majority’s sake, a great importance is attached to the need of getting a checking account. This aids the management of resources, bill payments, deposits directly from employers. There are a few banks and credit unions that administer the No ChexSystems Checking Accounts and/or Second Chance Checking Accounts to give a chance to people who want to rebuild their credit and financial records.
Here are some of the best second chance banks and credit unions in Maine:
- Chime
It is a financial institution that operates online and gives the best quality. The services rendered come with a touch of perfection which has earned them great recognition. Hence, it becomes preferred among others.
Best of all, Chime aids nearly all customers who apply irrespective of the fraudulent transactions they have been noted for.
These features include easy mobile access for transactions, monthly charges are not required, overdraft payments are waived off, and opening an account is super easy. You don’t need to make an initial deposit, and it only takes a couple of minutes.
What we like is this:
- No Charge on monthly transactions
There’s no charge on transactions carried out (monthly or yearly), little or no balance requirement, international transaction costs are not required.
- Cash deposits are free at Walgreens locations
Chime users value having easy access to a physical place where they can deposit cash. It is now simple. All you need to do is visit a Walgreens location, present your Chime card to the cashier, and the deposit will be instantly reflected in your account.
- Smart technology
Unlike large banks, Chime was founded in the era of smartphones and, as a result, has an app that offers clients more than just a method to check their bank accounts.
You can send money to friends and family, whether they are Chime members or not… and they can immediately claim their money.
- Customers first
It aims at putting the needs of the customers first and giving them the best experience.
- East mill Federal Credit Union
To open an account with Eastmill Federal, appropriate identification is the only requirement—ChexSystems is not used. There are neither minimum balance requirements nor monthly service charges. You can decide to get involved in overdraft protection if both of your accounts (savings and checking) are synced together. They are transparent and have one of the best loan rates.
- Five County Credit Union
They take care of issues that are of little significance with a monthly charge of $5. As a customer, you stand the chance of being awarded a free Visa debit card and check card. The amount to be used daily is $2500, $2000 for goods allocation, and $500 for cash at hand.
- Infinity Credit Union
Another term used by Infinity Federal’s second chance account is called Bridge checking. It is accompanied by numerous benefits which include monthly charges waived off, minimum deposits not required and no balance requirements necessary. There’s a free offer accorded your first check alongside endless check writing.
- Midcoast Federal Credit Union
They do not use the Chexsystem but have managed to devise a means to bring about synchronization using their own system called Compass checking. Compass checking helps people to manage their spending without overspending and it offers tools for budgeting. Services are free with little or no requirements and costs. Free debit cards are provided with access to Midcoast Federal’s e-services.
- New Dimension Federal Credit Union
They consider persons with sparse and unimportant records on the Chexsystem to issue a checking account. Their regular checking account has no monthly cost attached, little or no balance requirements, or per-check charge. It is accompanied by free online and mobile banking access as well as a Visa debit card.
- Saco Valley Credit Union
A valid ID must be provided before your checking account will be consented to. The checking account comes with no service charge ( monthly or yearly), low balance requirements, plus a free debit card, and endless check writing. Strictly for members in Maine.
- Wells Fargo
Over time they have changed their checking account to clear access banking. Wells Fargo has completely ruled out overdraft and Non-sufficient Funds (NSF) costs. Clear Access Banking is an account that allows debit cards only. Your transactions are easily declined if there are insufficient funds in your account. A monthly charge of $5 has been waived for certain individuals under the age of 24 and below.
- Varo Bank
They offer services based on their mobile apps available on Android and Apple phones with the use of the internet. It requires no service fee, providing strong tools for budgeting and automated savings programs.
- PeoplesChoice Credit Union
PeoplesChoice alongside SpendShield provides you with a way of conveniently transacting without stress or worries, ensuring the safety of your transactions. It is not limited and can be easily accessed from 85,000 different locations. It also provides the minimum overdraft fee of $14.95 in Maine which is considered the lowest. Customers can access their funds freely online and with mobile banking and also a free monthly fee on their checking account. The payment method is fast, reliable, and secure.
- Marketplace Bank
They do not use a Chexsystem but use an Equifax credit report. This is used in the verification of a customer’s account. They’re willing to set up an account irrespective of how your reports may look.
- SoFi Money
Though it may not be a bank, they offer services through a bank. SoFi money is a cash management platform that helps you combine the features of a checking and savings account. This account offers a yearly percentage profit that is greater than a typical savings account at 1.60%. They offer three different kinds of loans at the best rates you can find.
The customers normally get a loyalty discount of 0.25% and can easily borrow through SoFi money.