Is Magnifi Financial eChecking Account the right fit for you?
Last Updated: 01/21/2026
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Highlights
Welcome Offer
N/A
Rewards
N/A
APY (Annual Percentage Yield)
0.10%(Verified 06/21/2024)
Monthly Maintenance Fee
$5(Verified 01/21/2026)
Magnifi Financial eChecking Account Review
The Magnifi Financial eChecking Account is offered by Magnifi Financial, a credit union founded in 1939 and based in Melrose, MN. Magnifi Financial eChecking Account is available in 50 states and Washington, DC.
Key Takeaways
- Low annual percentage yield (APY). The maximum annual percentage yield for this account is only 0.10% .
- Waivable monthly maintenance fee. $5 monthly fee if account does not have a debit card or if account is not enrolled in eStatements through internet banking or mobile app (includes undeliverable eStatements).
- No minimum initial deposit. There is no minimum balance required to open an account online.
Magnifi Financial eChecking Account Pros & Cons
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Magnifi Financial eChecking Account FAQ
Are checking accounts from Magnifi Financial federally insured?
Yes, your checking accounts are insured up to $250,000 per share owner for each account ownership category. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.
What APY does Magnifi Financial eChecking Account offer?
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 0.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Magnifi Financial eChecking Account currently offers an APY of 0.10% (APY stands for annual percentage yield; rates may change).
What are the account minimums for Magnifi Financial eChecking Account?
Magnifi Financial eChecking Account does not require a minimum initial deposit.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What fees does Magnifi Financial eChecking Account charge?
This account charges a monthly maintenance fee each statement cycle of $5.00.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Maintenance Fee | $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: In-Network | Starting at $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Reimbursement Monthly Limit | Starting at $12.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Maintenance Waiver Requirements | $5 monthly fee if account does not have a debit card or if account is not enrolled in eStatements through internet banking or mobile app (includes undeliverable eStatements). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What features and perks does Magnifi Financial eChecking Account offer?
This account includes the following features:
- Mobile banking services - Magnifi Financial eChecking 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 - This account allows you to conveniently transact at a nearby ATM.
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Hours of Operation
SundayClosedMonday8:00AM - 3:00PMTuesday8:00AM - 3:00PMWednesday8:00AM - 3:00PMThursday8:00AM - 3:00PMFriday8:00AM - 3:00PMSaturdayClosed
Other Services by Magnifi Financial
Other Checking Accounts from Magnifi Financial
Rating not yet determined
Bonus Offer
N/A
Cashback Rewards
N/A
APY (Annual Percentage Yield)
N/A
Monthly Service Fee
$15
Disclaimer popup with additional information
Rating not yet determined
Bonus Offer
N/A
Cashback Rewards
N/A
APY (Annual Percentage Yield)
N/A
Monthly Service Fee
$15
Disclaimer popup with additional information
Rating not yet determined
Bonus Offer
N/A
Cashback Rewards
N/A
APY (Annual Percentage Yield)
N/A
Monthly Service Fee
$0
Disclaimer popup with additional information
Rating not yet determined
Bonus Offer
N/A
Cashback Rewards
N/A
APY (Annual Percentage Yield)
0.05% - 0.10%
Disclaimer popup with additional information
Monthly Service Fee
$0
Disclaimer popup with additional information
Rating not yet determined
Bonus Offer
N/A
Cashback Rewards
N/A
APY (Annual Percentage Yield)
N/A
Monthly Service Fee
$0
Disclaimer popup with additional information
Availability
Available in 50 states and Washington, D.C.
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
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