Whether you’re shopping for your first checking account or looking to upgrade to a rewards checking account, you probably want convenience and no (or low) fees. In this article, we’ll help you compare checking accounts by breaking down the three primary account types. There may be a lot of options out there, but we’ll help you find the best checking account for your specific needs. Keep reading to learn about the advantages and benefits of basic checking, rewards checking, and youth checking accounts.
Basic Checking Account
Sometimes all you want is a basic checking account without the requirements for earning rewards. And, at Palisades Credit Union, our Basic Checking Accounts still offer benefits of their own. Perhaps we should call this account Convenient Checking!
Benefits of Basic Checking:
- Unlimited Check Writing
- Debit Card
- A2A Transactions (make transfers between internal and external accounts)
- Mobile Deposits
- Online Banking
- Mobile Banking
Account Requirements
To avoid the monthly maintenance fee, you just need to meet one of the following requirements:
- Monthly Direct Deposit
- E-statement enrollment
- Minimum $300 monthly average balance
- Active PCU loan
Talk about the privileges that come with a basic checking account:
Basic Checking is best for...
Estate accounts or anyone who doesn’t want to accrue interest on funds.
Rewards Checking
If you’re wondering which checking account offers the best perks, the answer is our Rewards Checking. As the name suggests, this type of account offers incentives when use it regularly for everyday purchases, meeting certain requirements. At Palisades Credit Union, our Rewards Checking is totally free (no minimum balance requirement or monthly service fee).
Benefits of rewards checking:
- Free checking account
- Receive up to $18/month in ATM withdrawal fee refunds
- Only $25 minimum deposit to open
Account Requirements
To earn rewards, complete the following transactions and activities in your High-Yield checking account during each Monthly Qualification Cycle:
- Have at least 12 debit card purchases post and settle
- Be enrolled in and agree to receive e-statements
- Have at least one direct deposit post and settle
If you don’t meet the requirements for one month, your account is still free. Think this sounds too good to be true? As a credit union, we are member-owned and not-for-profit, so we can reward our members with higher-than-usual rates and other rewards.
Rewards Checking is best for...
Anyone who is looking for a free checking account with robust ATM refunds.
Youth Checking
When you (or your child) are ready to take the first step toward financial independence, it may be time to open a Youth Checking Account. From receiving direct deposit pay for a first job to making purchases and payments with your own debit card, a youth checking account can help learn the ropes as you begin to first manage your finances. At Palisades Credit Union, our youth checking account is totally free (no minimum balance requirement or monthly service fee).
Benefits of youth checking:
- Free checking account
- Free debit card
- Automatically converts to Basic Checking when member turns 21
- Only $5 minimum deposit to open
Account Requirements
To keep things simple for our young members, our accounts have few requirements:
- Under 21 years of age (individuals under 18 will require a joint member)
- $5 opening deposit
Youth Checking is best for...
Individuals under 21 who are ready to branch out and take control of their finances.
How to Choose the Right Checking Account
To find the account that works best for your individual situation, run through this checklist:
- Does the account come with online and mobile banking?
- Do you want additional digital tools such as budgeting capabilities?
- Does the mobile banking app have enough features to improve your experience?
- Is there a physical branch near you for when you need personalized service and help? For example, Palisades has locations in Nanuet, Orangeburg, and New City.
- Is the rewards checking account with a bank or credit union? Credit unions like us are generally able to offer more competitive interest rates on rewards checking accounts.
Additional Checking Account Benefits for Palisades CU Members
Palisades members enjoy Palisades Perks, which are added benefits for your membership account such as:
- FREE Notary Service
- Liberty Mutual Insurance and Special Payment Plan
- Intuit TurboTax Discounts
- ADT Discounts
- Love to Shop Perks
If you would like more information on any of these extra perks listed above please call us at 845-602-4242 or stop by any of our branches for assistance.
Open A Checking Account in Rockland or Bergen County!
If you're looking for the best checking accounts in Orangeburg, New City, or Nanuet, we are confident that you'll find what you're looking for at Palisades Credit Union. Compare our checking account options and open a rewards checking, youth checking, or basic checking account online!
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