Free Checking

No monthly fees. No minimum balance requirements.
Free Checking is built with you in mind.

Not a problem, anyone can join. Become a member by opening a Membership Regular Savings Account.

Then apply for a Free Checking account to enjoy all of the benefits of a checking account with no monthly fees.

A simple and easy checking account

No Monthly Fee

  • Don’t pay to access your own money - avoid the hassle of monthly maintenance fees
  • Open an account with as little as $25

Fee-Free ATM Network

  • Enjoy over fee-free ATMs nationwide
  • Access Allpoint and Co-op ATMs located in many well known retailers

24/7 Digital Banking

  • Check your balance, view transactions, and manage your account 24/7 online or through our mobile app
  • Deposit checks right from your phone with mobile deposit

Get Paid Early

  • Set up direct deposits and get your paycheck up to 2 days early1
  • When we receive your direct deposit information from your employer, we make your pay available to you up to 2 days early1

Additional Features & Benefits

Fee-Free ATMs

Fee-free ATM Locations

Where’s an ATM when you need it? Get access to our + fee-free ATM network of Allpoint and Co-op ATMs, giving you access to more machines than the leading banks.

Easy Access: Fee-free PenFed ATMs are located at many well known retailers such as Target®, CVS Pharmacy®, Circle K®, Winn Dixie®, Rite Aid®, Kroger®, Speedway®, and Safeway®.



Free Checking earns you more

As an Free Checking account holder, you can earn 2% cash back on everything you purchase with a PenFed Power Cash Rewards Visa Signature® card.

Cash back card image
Wherever you go, take your Free Checking account

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5



There is no monthly service fee associated with the Free Checking account. Certain account activity fees still apply, including but not limited to outgoing wire transfer and stop payment fees. Please see Penfed Service Fees for a full list of associated fees.

Access to PenFed's ATM network -- PenFed, Allpoint and Co-op -- will be free. This includes both withdrawal and balance inquiry. PenFed will not charge an out-of-network ATM fee, but out-of-network ATM fee may be levied by the financial institution that owns the ATM, and fees will vary depending on the financial institution that owns the ATM.

1. Electronic Funds Transfer - You can initiate an electronic funds transfer at PenFed to deposit funds from an external bank account. All you need is the ABA routing number and account number of the other institution. PenFed’s routing number is 256078446.

2. Mobile Deposit – You can download our mobile app and use Mobile Deposit.

3. Internal Transfer from your PenFed account.

4. Mail - You can mail in a check (with your account number written on the check) to: PenFed, Box 247009, Omaha, NE, 68124-7009.

You can withdraw money from your account in the following ways:

  • No-fee cash withdrawals at + ATMs through Allpoint Network, Co-op Shared Branch Networks and PenFed Branches in the US
  • Use your debit card for purchases
  • Online transfer to an external bank account
  • Use online bill pay
  • Write a check
  • Wire transfer

Yes, you can link your checking account to an Overdraft Line of Credit if you qualify. As this is a line of credit, it is subject to credit approval.

Your debit card will arrive within 5 to 7 business days after your account is opened.

You can order checks online, by phone or in the branches. Your first set of 50 checks will be delivered for free within 7 to 10 business day after the order has been placed.

As an 85 year old Financial Institution, we’ve stood by our members through thick and thin. We’re not just a credit union. We’re your partner. Becoming a PenFed member means never facing a financial decision alone.


1Early access to direct deposit is available for all PenFed members that set up a direct deposit with their employer or other payor. Early direct deposit eligibility may vary between pay periods and timing of payors funding.

2Have peace of mind knowing that PenFed won’t hold you responsible for unauthorized transactions on your Visa debit card. Visa’s Zero Liability policy applies to purchases made in the store, over the telephone, online, or via a mobile device. Visa’s Zero Liability policy does not apply to transactions not processed by Visa.

3Rates and offers current as of and are subject to change. After account opening, a three business day waiting period applies for credit line advances. This account can only be accessed by overdraft from a checking account. No other types of advances are permitted.