Did you know that some financial institutions charge checking account holders a monthly fee? Why pay money to use your own money?
We believe your money should stay where it belongs — with you. That’s why we have products and services available at no or low cost to our members. Read on to learn more about our checking account and the benefits that accompany it, all without monthly fees.
What’s Included with a PSECU Checking Account?
We offer you convenience. Enjoy a wide range of benefits that make it easy to access your money.
- No Minimum Balance Requirement: When you open a checking account with us, you don’t need to maintain a minimum monthly balance. We understand you need flexibility when unexpected bills or emergencies arise.
- Digital Banking: You can access your account 24/7using online banking or our mobile app and pay your monthly bills, transfer money, and view account history. You can deposit checks by using our secure mobile app.
- Bill Payer Service: Our bill payer service is always free to use and makes it convenient to stay on top of your payments.
- Surcharge-Free ATMs: You have access to a network of more than 30,000 surcharge-free ATMs nationwide. Plus, if you use your PSECU debit card at an out-of-network ATM and get charged, we offer rebates on ATM withdrawal fees up to $20 a month for members with direct deposit, and up to $8 a month for members without direct deposit.
- Overdraft Protection Transfer Service: Enjoy peace of mind with our 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, we don’t charge you a fee for using Overdraft Protection Transfer Service.
- Security: We help keep you protected against fraud by offering convenient account alerts, free credit score service*, and lock/unlock features for card access.
- Free Basic-Style Checks: In keeping with our philosophy that you shouldn’t have to pay to access your own money, you don’t have to pay to use your money, either. We provide all members who have a checking account with free basic-style checks.
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 your PSECU membership. Maintain a $5 minimum balance in your account to enjoy all the benefits of membership.
- Additional Savings Shares: In addition to your Regular share, we offer additional savings shares that allow you to put money aside for other goals or purposes, like holiday spending and vacations.
- Money Market: With this share, you can earn higher dividends than other savings options on balances greater than $500.
- Youth Savings: If you’d like to start your child out on the right foot, custodial accounts and Regular share accounts for youth under the age of 18 offer a special higher-yield savings rate. A balance as low as $5 can earn a 1.00% APY* on up to $500. If the balance goes above $500, any money over $500 will earn dividends based on our Regular share rate.
- IRA: Saving for retirement or education is simple with our IRA options. We offer Traditional IRAs and Roth IRAs 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. We offer flexible terms ranging from three months to five years to meet your unique needs.
Join PSECU to Open a Checking Account Without Monthly Fees
If you live in Pennsylvania, you’re likely eligible to join PSECU and receive access to our no-fee checking accounts. Learn more about our checking accounts or complete an application to join today. You can also find more money-saving tips on our WalletWorks page.
*PSECU is not a credit reporting agency. Members must have PSECU checking or a PSECU loan to be eligible for this service. Joint owners are not eligible.
**APY denotes Annual Percentage Yield. To 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 1.00% 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.