PenFed Free Checking
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| Cashback Rewards | N/A |
| APY (Annual Percentage Yield) | 0% |
| Monthly Fee | $0 |
| Minimum Balance to Avoid Monthly Fee | N/A |
PenFed Free Checking Review
PenFed Free Checking is offered by PenFed Credit Union, a credit union founded in 1935 and based in Tysons, VA. PenFed Free Checking are available in 50 states (and Washington, DC).
Key Takeaways
- 0% APY. As with most checking accounts, PenFed Free Checking does not pay interest.
- $0 monthly fee. This account does not charge any monthly account fees.
- Bill pay. Pay your bills to practically anyone in the United States through PenFed Credit Union.
- Soft credit pull. This bank will not perform a hard credit pull when you open a checking account.
PenFed Free Checking Pros & Cons
| Pros | Cons |
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PenFed Free Checking FAQ
Are checking accounts from PenFed Credit Union 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 PenFed Free Checking offer?
PenFed Free Checking is not an interest-bearing account.
What are the account minimums for PenFed Free Checking?
PenFed Free Checking requires a minimum initial deposit of $25 to open an account.
| Description | |
|---|---|
| Minimum Opening Deposit | Starting at $25 |
What fees does PenFed Free Checking charge?
The good news is that this account does not have a monthly Service Charge.
| Description | |
|---|---|
| Monthly Fee | $0 |
| ATM Fee: In-Network | $0 |
| Foreign Transaction Fee (Debit Card) | 2% |
| NSF Fee | $30 |
| Overdraft Item Fee | $30 |
| Returned Deposited Check | $5 |
| Returned Deposit Fee (Domestic) | $30 |
| Returned Deposit Fee (International) | $30 |
| Uncollected Funds Fee (Deposits on Hold) | $10 |
| Stop Payment Fee | $20 |
| Check Stop Payment (Individual) | $20 |
| Check Stop Payment (Sequential Series) | $30 |
| Check Ordering (per order) | $5 |
| Wire Transfer Fee - Domestic (Outgoing) | $25 |
| Wire Transfer Fee - International (Outgoing) | $30 |
| Paper Statement Fee | $2 |
| Online Bill Pay Fee | $0 |
| Check Copy | $1 |
| Debit Card Replacement Fee | $0 |
Does PenFed Free Checking charge overdraft fees?
Yes, PenFed Free Checking charges a $30 fee for every overdraft.What features and perks does PenFed Free Checking offer?
This account includes the following features:
- Fraud monitoring - PenFed Free Checking 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.
- Mobile Banking Services - PenFed Free Checking 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.
- Soft credit pull - PenFed Free Checking performs a soft credit pull so you can check whether you qualify without hurting your credit.
What is the customer support email for PenFed Free Checking?
The customer support email for PenFed Free Checking is info@hq.penfed.org.
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Contact
- Headquarters
-
7940 Jones Branch Dr
Tysons, VA 22102 USA - (800) 247-5626
- Visit Site
- Email Support
Other Services by PenFed Credit Union
View all checking accounts offered by PenFed Credit Union
Availability
Available in 50 states and Washington, D.C.
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- 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
- Washington, DC
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
| Minimum Opening Deposit | Starting at $25 |
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