Second chance checking accounts offer individuals with poor credit the opportunity to open a new checking account even with prior credit issues to help conduct a variety of banking transactions. BBVA Compass Bank is one bank that offers a second chance bank account for people who have been unable to open a checking account in the past.
BBVA Compass Bank’s second chance checking account offers a number of desirable features that are not common with these type of bank accounts. The banks’ second chance checking account gives account holders a safe place to store their money in addition to providing convenient features such as online banking and a Visa check card tied to the account.
Since this a bank account for consumers with a less than perfect credit history, there is a monthly fee with the account. The current monthly fee on the BBVA Compass bank second chance checking account is $7.95. The account requires a deposit of just $25.00 to open the account, however there is no minimum monthly balance requirement once the account is open. Features of the second chance bank account also include; unlimited check writing, free online banking and a free Visa check card.
For consumers that have banking problems in the past, fortunately, there are banks such as BBVA Compass Bank that offer these types of checking accounts. Even though the bank’s second chance account has a low monthly fee, consumers that exhibit responsible use of the second chance checking account can build banking relationship that help facilitate a stronger financial position.
Many banking opportunities for the under banked have a great deal of restrictions attached to the bank accounts and checking accounts that may be available in the financial market. For many consumers in this position, the need for banking services make these accounts preferable to not having a bank relationship at all. Fortunately, second chance checking accounts such as the BBVA Compass Bank account offer standard checking services as well the check card and online banking at very reasonable cost.
This second chance bank account does require that account holders have a permanent residence within a state where BBVA Compass has bank branch operations which includes Alabama, Arizona, California, Colorado, Florida, New Mexico, or Texas.
BBVA Compass is headquartered in Birmingham, Alabama. The bank operates more than 720 bank branches throughout Texas, Alabama, Arizona, California, Florida, Colorado and New Mexico. BBVA offers a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance.