Account Type 71 Checking 2nd is a second checking account designation used by some banks

When you see "Account Type 71 Checking 2nd" on a bank statement or in your account details, it means you have opened a second checking account at that institution, and the bank has assigned it the internal code 71 to distinguish it from your primary checking account. The "2nd" explicitly marks it as your second account of that type at that bank. This is a classification system banks use internally for record-keeping, routing transactions, and managing regulatory requirements — not a special product or tier.

Different banks use different numbering systems. Some use two-digit codes like 71, others use longer alphanumeric strings. What matters is that your bank has tagged this account so that deposits, withdrawals, and transfers route to the correct place. You will see this code on statements, in online banking, and in any documents the bank sends about this specific account.

The reason you might have a second checking account varies: you may have opened it to separate business and personal spending, to keep household finances distinct from a partner's, or straightforward because you wanted another account at the same bank. Banks allow this and do not charge extra for the designation itself, though they may charge monthly maintenance fees on the second account depending on your balance or account activity.

Key Takeaways

  • Account Type 71 Checking 2nd is your bank's internal label for a second checking account you hold at that institution.
  • The code 71 and the "2nd" designation help the bank route your transactions correctly and track accounts for regulatory purposes.
  • This is a classification system, not a special account product — the features and fees depend on the specific account terms your bank offers.
  • You can have multiple checking accounts at the same bank, and each will have its own account number and internal type code.

Why banks use account type codes

Banks process thousands of transactions daily across accounts that look identical to you — they all have account numbers, routing numbers, and balances. Internally, the bank needs to know what kind of account each one is so that regulatory reporting, fee structures, and transaction limits explore correctly. Account Type 71 tells the bank's systems that this is a checking account (not savings, money market, or another product) and that it is your second one at that bank.

This matters for compliance. Federal regulators require banks to track deposit insurance separately by account type and ownership. If you have two checking accounts at the same bank in your name alone, the FDIC insures each one up to $250,000 separately. The bank's system needs to know which account is which so that if the bank fails, the insurance payout goes to the right place. The account type code is part of how that tracking happens.

The code also affects how the bank applies fees and interest. A second checking account might have different monthly maintenance fees than your primary account, or it might be subject to different minimum balance requirements. The bank's billing system uses the account type to pull the correct fee schedule.

How account type codes appear in your banking

You will encounter Account Type 71 Checking 2nd in several places. On your monthly statement, it may appear in the account summary section or in the header, usually alongside your account number. In online banking, it typically shows up in the account details or account settings page. If you call the bank's customer service line, the representative will see it in their system and may reference it when discussing your account.

When you set up transfers between your two checking accounts, the bank's system uses the account type to route the money correctly. If you have automatic deposits set up, the payroll system or other source needs your account number, but the bank's internal systems use the type code to confirm that the deposit is going to a checking account, not a savings account.

If you ever need to close this second account, the bank will reference it by account number and may also mention the type code in the closure confirmation. This helps may support there is no confusion about which account is being closed, especially if you have multiple accounts of different types.

The difference between primary and secondary checking accounts

Your first checking account at a bank is typically your primary account. It may have been the one you opened first, or the bank may have designated it as primary based on when you opened it or how you use it. Your second checking account — the one marked as Type 71 Checking 2nd — is secondary. This is purely a designation; there is no functional difference in how the account works or what you can do with it.

Some banks offer different fee structures or benefits for primary versus secondary accounts. A primary account might waive monthly maintenance fees if you maintain a certain balance, while a secondary account might charge a fee regardless. Check your account terms to see whether your bank distinguishes between them in this way. The account type code helps the bank's billing system explore the correct terms.

You can use a secondary checking account exactly as you would a primary one: deposit checks, make transfers, set up direct deposits, write checks, use a debit card, and pay bills. The "secondary" label is administrative, not functional.

When you might see multiple account type codes

If you have three or more checking accounts at the same bank, you would see different codes for each one — perhaps Type 71 for the second, Type 72 for the third, and so on. The exact numbering varies by bank. Some banks use sequential numbers; others use different systems entirely. What matters is that each account has a unique code so the bank can tell them apart.

If you have both a checking account and a savings account at the same bank, they will have different type codes altogether — the checking account might be Type 71 and the savings account might be Type 10 or Type 20, depending on the bank's system. The type code tells you the product category, not just the order in which you opened accounts.

Moving to a different bank will not carry over these codes. Each bank has its own internal classification system. If you transfer your accounts to another bank, that bank will assign new type codes based on its own system.

FDIC insurance and account type codes

The FDIC insures deposits up to $250,000 per depositor, per bank, per account ownership category. If you have two checking accounts at the same bank in your name alone, each account is insured separately up to $250,000. The account type code helps the FDIC and the bank track which deposits belong to which account for insurance purposes.

If you have $200,000 in your primary checking account and $150,000 in your secondary checking account (Type 71 Checking 2nd), both amounts are fully insured because they are in separate accounts. If you had $400,000 in a single checking account, only $250,000 would be insured. The account type code is part of the system that ensures the FDIC knows you have two accounts, not one.

If you own an account jointly with someone else, that account is insured separately from accounts you own alone. The bank's system uses account type codes and ownership information together to calculate insurance coverage correctly.

What account type codes do not tell you

The code "71 Checking 2nd" does not indicate the interest rate on the account, the monthly fee, the minimum balance requirement, or any other feature. Those details are in your account agreement or fee schedule, not in the type code. The code is purely a classification tool — it tells you what kind of account it is and that it is your second one, nothing more.

The code also does not indicate how old the account is or when you opened it. A bank might renumber accounts or reorganize its classification system, so the type code may not reflect the actual order in which you opened accounts. If you need to know when you opened a specific account, check your account history or contact the bank directly.

Account type codes are not standardized across banks. If you move your accounts to a different bank, the new bank will use its own system. There is no industry-wide standard that makes "71" mean the same thing at every bank.

Frequently Asked Questions

Can I change my account type code?

No. The account type code is assigned by the bank's system based on the account you opened and its position in your account history. You cannot request a different code. If you want to change how the bank treats your accounts, you would need to close one account and open a new one, which would result in a new account number and type code.

Does having a second checking account affect my credit score?

No. Opening a checking account does not appear on your credit report. Banks do not report checking account activity to credit bureaus. Your credit score is based on credit accounts like credit cards, loans, and lines of credit — not deposit accounts.

Will I get two separate debit cards for my two checking accounts?

Usually yes, but it depends on your bank. Most banks issue a separate debit card for each checking account so you can control which account a transaction draws from. Some banks allow you to request a single debit card that draws from a primary account. Contact your bank to see what options are available.

What happens to my account type code if I close my primary checking account?

If you close your primary account, the bank may renumber your remaining accounts. Your secondary account (Type 71 Checking 2nd) might become your primary account and be reassigned a different type code. The account number stays the same, but the internal classification may change. Contact the bank to confirm how this will affect your account.

Is there a limit to how many checking accounts I can have at one bank?

Most banks do not have a hard limit on the number of checking accounts you can open, but some may restrict you if you have a history of overdrafts or fraud. Check with your specific bank about its policy. Each account will have its own account number and type code.