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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
PENFED CHECKING
Free Checking
No monthly fees. No minimum balance requirements.
Free Checking is built with you in mind.A simple and easy checking account
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 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®.
Debit Card Features
- Contactless Card: Receive a free Visa® debit card - enabled for touchless in store purchases at participating merchants
- Safety and Security: Rest easy knowing that if your debit card is lost or stolen, you won’t be responsible for any unauthorized charges2
- Digital Wallet: Pay safely right from your phone or watch - fully compatible with Apple Pay™, Samsung Pay™, and Google Pay™
Overdraft Line of Credit
- No Fees to Access: Access your Overdraft Line of Credit without incurring a fee
- Fixed Rate: Enjoy a fixed rate of
% APR
- Flexible Line Amounts: Overdraft lines of $
and up - which are subject to credit approval - are available for Free Checking accounts
Already have a PenFed checking account? Apply now for an Overdraft Line of Credit.3
Bill Pay and More
- Pay Bills From Any Location: Enjoy the convenience of making payments from your laptop, tablet or mobile phone
- Easy Set Up and Convenient Access: Enroll in Bill Pay within seconds and begin paying bills any time of the day or night
- No Monthly Service Charge: Account holders receive all the benefits of Online Bill Pay for free
- Checks: Receive your first box of 50 checks for free
PENFED HONORS ADVANTAGE
Free Checking earns you more
As a Free Checking account holder, you can earn 2% cash back on everything you purchase with a PenFed Power Cash Rewards Visa Signature® card.
MOBILE APP
Wherever you go, take your Free Checking account
Want Free Checking but not a PenFed Member?
Join Now to establish your membership by opening a Membership Regular Savings account
Set up online access under “First Time Logging In?” after clicking “Log In” at www.penfed.org
Navigate to the top of this page and click “Open Now” to open a Free Checking account
Disclosures
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.
