LendingClub Personal Checking Account

LendingClub Personal Checking Account Review

LendingClub Personal Checking Account is offered by LendingClub Inc, a marketplace lending platform founded in 2007 and based in San Francisco, CA. LendingClub Personal Checking Account is available in 50 states (and Washington, DC).

Key Takeaways

• Up to 1% cash back. LendingClub Personal Checking Account offers rewards on purchases (see terms and conditions here for full details).
• Higher than average APY. LendingClub Personal Checking Account has an annual percentage yield of up to 0.15%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $2500.
• $0 monthly fee. This account does not charge any monthly account fees.
• $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
• No ATM fees. LendingClub Personal Checking Account does not charge fees on ATM transactions.
• ATM fee rebates. This account will reimburse you for ATM fees (see terms and conditions for details).
• Bill pay. Pay your bills to practically anyone in the United States through LendingClub Inc.
• Early direct deposit. Get access to you paycheck funds faster If you set up a direct deposit to this account.

LendingClub Checking Account Pros & Cons

LendingClub Checking Account FAQ

Are checking accounts from LendingClub Inc federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does LendingClub Checking Account offer?

LendingClub Checking Account offers an APY starting at 0.1% and ranging up to 0.15% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep an average beginning day balance of at least $2500.

What are the account minimums for LendingClub Checking Account?

LendingClub Checking Account requires a minimum initial deposit of $100 to open an account.

What fees does LendingClub Checking Account charge?

The good news is that this account does not have a monthly Service Charge.

What features and perks does LendingClub Checking Account offer?

This account includes the following features:

• ATM rebates - This account will reimburse you for any domestic ATM fees.
• Fraud monitoring - LendingClub Checking Account monitors transactions for potentially unauthorized activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
• Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
• Get paid early - If you set up direct deposit with your employer and request this service, you can collect your salary early.
• Mobile Banking Services - LendingClub Checking Account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
• Nationwide ATM network - Conveniently transact at a nearby ATM.

What is the customer support email for LendingClub Checking Account?

The customer support email for LendingClub Checking Account is bankhelp@lendingclub.com.

How do people rate the customer service and user experience of LendingClub Checking Account?

Overall, LendingClub Checking Account is strongly recommended based on community reviews that rate customer service and user experience.