An Opportunity for a Second Chance

opportunity checking account webster bank

When I was younger I witnessed a friend making a lot of financial mistakes. She maxed out her credit cards and overdrew her checking account multiple times, all before the tender age of 25. Eventually her bank had to close her account, and credit cards were canceled. Having to rely on a check-cashing store, she incurred several charges, which lowered her take-home pay. She was fortunate enough to re-build her credit and finances but it took nearly a decade, and throughout those years, she kept wishing that people would give her an opportunity for a second chance.

We believe that everyone has the potential to rebuild their finances and improve their lives. If you’ve had a less-than stellar banking history, here’s some advice and options:

Tips from the FDIC

The FDIC explains This is a third party link. Please review the third party content guidelines for more details by clicking here. why some checking accounts are forced closed and what you can do. Some of their advice is to:

  • Order a free copy of a ChexSystem report filed under your name by going online at This is a third party link. Please review the third party content guidelines for more details by clicking here. or calling 1-800-428-9623.
  • Review that report and dispute any discrepancies.
  • Don’t give up on opening a checking account.

Second Chance Opportunity Checking at Webster Bank

If you’ve ever ran into a snag opening a checking account based on your past history, you may be a great candidate for what’s commonly referred to as a “second chance” account. At Webster, we call this the “Opportunity Checking” account. Here are some of the reasons why this account can help:

  • It establishes or re-establishes credit worthiness.
  • If you want to apply for credit in the future, you’ll need to have a checking account.
  • Your money is protected by the FDIC insurance up to $250,000. (Much better than the mattress!)
  • You’ll save money on stamps and trips to the post office with free online and mobile banking and billpay.

 opportunity checking account webster bank

However, there are some restrictions including:

  • There’s a monthly service charge.
  • Signature Visa Debit Card Purchases  (i.e. selecting the “credit” option and signing the receipt, rather than the “Debit” option and entering your PIN) are limited to $250 per calendar day.
  • Other restrictions apply, please review Webster’s Deposit Account Disclosure for details.


The good news is that if you incurred less than three overdraft fees within a 12 month period, we can upgrade you to a different account of your choice. If you need any tips on ways to avoid overdraft charges, check out our previous blogs on the subject:

 Help - ask us webster bank

We will help you every step of the way. If you have any questions about our second chance account, please don’t hesitate to contact us at 1-800-325-2424. We are available 7 days a week from 7:00 a.m. to 10:00 p.m. with the exception of Federal holidays. Or you can ask us any questions in the comments below.