Checking Accounts Without Monthly Fees

Did you know that some financial institutions charge checking account holders a monthly fee? Why pay money to use your own money? 

Your money should stay where it belongs — with you. That’s why PSECU has products and services available at no or low cost to members. Read on to learn more about PSECU's free, award-winning checking account and the benefits that accompany it, all without monthly fees. 

Checking for Life

PSECU’s free checking account offers the convenience and perks you need every day. It’s straightforward for everyone - from teens managing their first paycheck to seasoned professionals balancing a long list of personal expenses. 

PSECU checking account features: 

• Debit card rewards: Pay with your PSECU debit card and you can earn $.05 or $.10 on eligible purchases¹. 

• Surcharge-free ATMs + ATM rebates: PSECU members have access to a network of more than 85,000+ surcharge-free ATMs worldwide. Plus, if you use a PSECU debit card at an out-of-network ATM and get charged, they’ll rebate fees on withdrawals up to $20 per month with direct deposit and up to $8 per month without. 

• No-fee Overdraft Protection Transfer Service: Enjoy peace of mind with PSECU’s no-fee Overdraft Protection Transfer Service. If your checking account doesn’t have enough funds to cover checks, ACH transactions, and bill payer transactions clearing from it, the money can be automatically pulled from other specified accounts. Unlike other financial institutions, PSECU won’t charge you a fee for using Overdraft Protection Transfer Service.  

• Free checking with no minimum balance requirement: When you open a checking account with PSECU, you don’t need to maintain a minimum monthly balance. PSECU understands you need flexibility when unexpected bills or emergencies arise. 

Other PSECU Accounts Without Monthly Fees 

You can also benefit from these other account options, all without paying a monthly fee: 

• Regular share: This account is the cornerstone of PSECU membership. Maintain a $5 minimum balance in your account to enjoy all the benefits of membership. 

• Additional savings: In addition to your Regular savings share, PSECU offers additional savings shares (up to five extra shares) that allow you to put money aside for other goals or purposes, like holiday spending and vacations. 

• Money market: With a money market, you can earn higher dividends than other savings options on balances greater than $500².  

• Youth savings: If you’d like to start your child off on the right foot, custodial accounts and Regular accounts for youth under the age of 18 offer a special higher yield savings rate³.
• IRA: Saving for retirement or education is simple with PSECU’s IRA options. Traditional IRAs and Roth IRAs are offered to help you prepare for a comfortable retirement, as well as Coverdell Educational Savings Accounts to help you cover your child’s educational expenses.
• Certificate: If you want to enjoy increased savings and don’t need immediate access to your funds, a PSECU certificate is an ideal option for earning dividends over a fixed term. PSECU certificates offer flexible terms from three months to five years to meet your unique needs. 

Open a Free Checking Account

PSECU has one simple checking account choice available for all members that can meet your needs now and for every stage of life to come. So, if perks like debit card rewards, 85,000+ surcharge-free ATMs, and ATM rebates appeal to you, learn more and open a checking account today. 

¹You can earn $0.10 cash rewards on eligible purchases of $10 or over with a PSECU checking account and one or more qualifying monthly direct deposit(s) totaling at least $500. You can earn $0.05 cash rewards on eligible purchases of $10 or over for accounts with a PSECU checking account. Certain restrictions may apply. See the Visa® Debit Card Rewards Program Terms and Conditions for full details. 

²Rates and information are subject to change at any time. Fees could reduce earnings on the account(s). The disclosed dividend rates are variable and may change after the member opens the account(s). Money market accounts require a minimum of $500 to earn dividends. For consumer accounts, view Truth in Savings Account Disclosures.   

Business Accounts: Business money market accounts require a minimum of $2,500 to earn dividends. 

³To be eligible for the Youth Savings rate, the primary account owner must be under the age of 18. All eligible Youth Savings Share accounts earn 4.00% APY for balances of $.01 to $500.00. For balances of $500.01 and over, the Regular Savings Share APY will apply. Rates and information are subject to change at any time. Fees could reduce earnings on the account(s). The disclosed dividend rates are variable and may change after the member opens the account(s). Find our current dividend rates at psecu.com/rates. PSECU requires a $5 minimum balance to open and maintain a Regular share account. This $5 share account deposit is also required to be eligible to receive the Youth Savings rate, and the member must be in good standing as defined by PSECU's Bylaws, Article II, Section I. PSECU will make a $5 minimum share purchase on behalf of the member.