Choice Checking vs. Traditional Checking: Why You Should Make the Switch

Are you tired of discovering yet another fee on your account statement? Watching your hard-earned money slowly disappear through hidden fees is a frustrating and common experience with many traditional checking accounts.

Not all checking accounts are created equal, especially when it comes to finding a true high-yield checking account. Unlike traditional options weighed down by fees and limitations, Fibre FCU’s Choice Checking puts your needs first with features like high dividends, no monthly fees, and no minimum balance requirement. 

Let’s break down the Choice Checking vs. traditional checking differences to see why making the switch is a smart move for your finances.

THE HIDDEN COSTS OF TRADITIONAL CHECKING ACCOUNTS

Traditional checking accounts often have hidden costs that can slowly drain your account over time. Monthly maintenance fees, minimum balance fees, and out-of-network ATM fees can quietly chip away at your balance. These checking account fees make it difficult to manage your finances, especially if your balance is low.

A simple mistake, like forgetting about a pending transaction, could trigger fees. For example, if your checking account balance falls below the $300 minimum balance requirement, you could get charged a fee — even if your direct deposit paycheck hits your account the next day. If you travel for work and need to occasionally access out-of-network ATMs, you could face additional fees each time you withdraw cash. 

Over time, fees can add up, making it harder to stay on top of your finances.

CHOICE CHECKING — THE SMARTER OPTION

Choice Checking eliminates many of the fees associated with traditional checking accounts to provide a more cost-effective banking experience. There are no monthly maintenance fees, no minimum balance requirement, and you get free access to a wide network of over 30,000 ATMs across the nation.

To understand just how much value Choice Checking offers, it helps to see how it compares to traditional checking accounts:

EARN DIVIDENDS ON YOUR BALANCE

Unlike traditional checking accounts that offer no returns, with Choice Checking, you can put your money to work earning competitive dividends on balances up to $20,000. All you have to do is meet some simple qualifications:

• Make 12+ debit card transactions of $5+ per cycle
• Receive E-Statements
• Have one direct deposit, or automatic electronic payment, or one credit card purchase per cycle

Even if you miss a step, you’ll still earn dividends, just at a lower rate. Balances over $20,000 also earn dividends at a lower rate.

ENJOY CONVENIENT ACCESS TO YOUR MONEY

Choice Checking makes it easy to access your money when you need it. With 24/7 Online and Mobile Banking, you can conveniently check your balance, transfer funds, pay bills, and deposit checks anytime, anywhere. Your account is always within reach, whether you are managing your finances at home, at work, or when you are on the go.

You’ll also enjoy access to over 30,000 ATMs nationwide through the CO-OP Network. This means you can always get the cash you need when you’re traveling.

There’s also no minimum balance requirement. Whether your balance is $50 or $5,000, you’re free to use your money as needed without worrying about minimum balance fees.

ADDITIONAL PERKS AND BENEFITS

Choice Checking offers additional features that help you keep more of your hard-earned money. If you ever need to withdraw cash from an out-of-network ATM, we will assess a $2.00 fee. But you can wave goodbye to those fees with automatic ATM fee refunds of up to $25 per month by meeting simple monthly qualifications.

For members aged 62 and above, Choice Checking offers additional perks. You’ll qualify for a free annual box of checks and five free monthly cashier’s checks, which helps you save even more.

MAKING THE SWITCH TO CHOICE CHECKING

Why keep your money in a traditional checking account when a high-earning checking account offers so many benefits? The sooner you get started, the sooner you can start earning dividends and avoiding unnecessary fees.

Switching checking accounts is a breeze — you can open a Choice Checking Account in a few simple steps:

1. Open a Choice Checking account: Open an account online, schedule an appointment, or visit one of our 16 locations. Our team will reach out to you when your account is ready, typically within one business day, and they’ll guide you through funding your new account.
2. Set up direct deposit and bill pay: Redirect your direct deposits and payments so you never miss a paycheck or due date.
3. Enjoy your new account: You can now use your new account for all of your daily spending needs, while enjoying the many perks the account offers.

CHOICE CHECKING FOR THE WIN

Ready to stop paying unnecessary fees and start earning dividends with your checking account? Choice Checking is a smarter way to bank. 

Join the Fibre FCU family and open a Choice Checking Account today to experience banking that works for you, not against you.

Open Your Choice Checking Account Today and Start Earning More!