A Plus Checking Account Gives You Basic Banking With Low or No Monthly Fees

A Plus Checking Account is a standard checking account offered by banks and credit unions, designed for everyday spending and bill payment. The "Plus" label varies by bank — some call it Plus, some call it Basic, some call it Standard — but the core features are the same across institutions: a debit card, check-writing ability, online banking, and direct deposit access.

The main selling point is the fee structure. Most Plus accounts charge no monthly maintenance fee, or waive it if you meet a simple requirement like maintaining a minimum balance (often $500 to $1,500) or setting up direct deposit. Some banks charge a small monthly fee ($5 to $10) if you don't meet the waiver condition, but that's still lower than premium account tiers.

Plus accounts are not the same as savings accounts. You can write unlimited checks and make unlimited debit card transactions, but you earn little to no interest on the money sitting in the account. If you want your money to grow, you'd pair a Plus checking account with a separate savings account.

Key Takeaways

  • A Plus Checking Account is a basic checking account with no monthly fee or a low fee if you meet simple conditions like direct deposit or minimum balance.
  • You get a debit card, check-writing ability, online banking, and the ability to receive direct deposits, but earn no meaningful interest on your balance.
  • The exact features and fee waiver requirements differ by bank, so comparing your bank's specific Plus account terms matters before opening.
  • Plus accounts are meant for regular spending and bill payment, not for saving money or earning returns.

What Comes With a Plus Checking Account

When you open a Plus Checking Account, you receive a debit card linked to the account. You can use this card to withdraw cash at ATMs, make purchases at stores and online, and pay bills through the card network. Most banks let you set up alerts when your balance drops below a certain amount, so you know when you're running low.

You also get a checkbook or the option to order checks. Writing a check is still a common way to pay rent, utilities, or contractors who don't accept cards. Checks clear through your account, and your bank shows them in your transaction history online.

Online banking is included. You can log into your bank's website or mobile app to see your balance, review transactions, transfer money between your own accounts, and set up bill pay. Bill pay lets you schedule payments to companies directly from your checking account without writing a check or giving out your card number.

Direct deposit is supported. Your employer or a government agency can deposit your paycheck or benefit payment straight into your Plus account, usually within one or two business days of payday. This is often one of the conditions banks use to waive the monthly fee.

How Plus Accounts Differ From Other Checking Types

A Plus account sits in the middle of the checking account spectrum. It's more basic than a Premium or Gold checking account, which typically offer higher interest rates, higher ATM reimbursement limits, travel perks, or fee waivers for overdrafts. Premium accounts usually require a higher minimum balance ($2,500 or more) and charge higher monthly fees if you don't meet it.

On the other end, some banks offer a Basic or Free Checking account with even fewer features — sometimes no debit card, limited check writing, or fewer ATM locations. A Plus account usually sits above these stripped-down options.

The key difference from a savings account is that checking accounts are designed for frequent transactions. Savings accounts limit how many withdrawals you can make per month and typically offer higher interest rates in exchange for leaving your money alone. A Plus checking account has no withdrawal limits but pays almost no interest.

Monthly Fees and How to Avoid Them

Most banks charge a monthly maintenance fee for a Plus Checking Account only if you don't meet a waiver condition. The most common waivers are:

  • Direct deposit of at least $500 per month from your employer or a government agency.
  • Maintaining a minimum daily balance, usually between $500 and $1,500.
  • Making a certain number of debit card transactions per month, often 10 or more.
  • Keeping a linked savings account open at the same bank.

If you meet one of these conditions, the monthly fee is waived. If you don't, the fee is typically $5 to $12 per month. Some banks waive the fee for all customers with no conditions attached, so it's worth checking your specific bank's terms.

Overdraft fees are separate from the monthly maintenance fee. If you spend more than you have in your account, the bank may charge an overdraft fee (usually $25 to $35 per transaction) or decline the transaction. Some banks offer overdraft protection, which links your checking account to a savings account or credit line so overdrafts are covered automatically.

Interest Rates and Why They're Minimal

A Plus Checking Account earns little to no interest on your balance. Most banks pay 0.01% annual percentage yield (APY) or less, which means if you keep $1,000 in the account for a year, you earn about 10 cents. Some banks pay nothing at all.

This is by design. Checking accounts are meant for money you're actively spending, not money you're saving. Banks make their profit by lending out the money customers deposit, so they don't need to pay interest to keep checking account balances. If you want your money to earn interest, you'd open a high-yield savings account at the same bank or a different one.

A few online banks and credit unions offer checking accounts with slightly higher rates — sometimes 0.5% to 2% APY — but these usually come with conditions like a minimum balance of $5,000 or more, or a requirement to make a certain number of debit card transactions per month. These are exceptions, not the standard.

ATM Access and Fees

When you open a Plus Checking Account, you can withdraw cash at your bank's ATMs for free. If your bank is part of a larger network (like Allpoint or MoneyPass), you may also have free access to thousands of ATMs outside your bank's branches.

Using an out-of-network ATM — one that doesn't belong to your bank or its network — usually costs money. The ATM operator charges a fee (typically $2 to $3), and your bank may charge its own fee ($1 to $3). Some Plus accounts include a monthly reimbursement for out-of-network ATM fees, but this is more common in premium tiers.

If you travel frequently or live far from your bank's branches, check which ATM network your bank uses before opening the account. A bank with a large network or one that reimburses out-of-network fees might save you money over time.

Who Should Open a Plus Checking Account

A Plus Checking Account works well if you need a straightforward place to receive paychecks, pay bills, and spend money without worrying about monthly fees. It's a good fit if you have direct deposit (which waives the fee at most banks) or can maintain a small minimum balance.

It's less ideal if you want your money to earn interest or if you need premium features like travel insurance or concierge services. In those cases, a premium checking account or a combination of a basic checking account plus a high-yield savings account might serve you better.

If you're new to banking or rebuilding your banking history, a Plus account is often easier to open than premium accounts because the requirements are lower. Some banks also offer second-chance checking accounts for people with past banking problems, though these may have higher fees or stricter balance requirements.

Frequently Asked Questions

Can I write unlimited checks with a Plus Checking Account?

Yes, most Plus accounts allow unlimited check writing. However, some banks may charge a fee if you order checks beyond a certain number per year, though the first order is usually free. There's no limit on how many checks you can write from your account each month.

What happens if my balance drops below the minimum required to waive the fee?

If your bank requires a minimum balance to waive the monthly fee and your balance falls below it, you'll be charged the monthly maintenance fee (typically $5 to $12) on your next statement. The fee is charged once per month, usually at the end of the billing cycle.

Can I transfer money from my Plus Checking Account to a savings account?

Yes, if both accounts are at the same bank, you can transfer money between them online or through the mobile app, usually instantly or within one business day. If the accounts are at different banks, you can use an external transfer, which typically takes one to three business days.

Do I need a minimum opening deposit to open a Plus Checking Account?

Most banks require a small opening deposit, often $25 to $100, though some waive this requirement. Check with your specific bank before opening. The opening deposit counts toward your minimum balance requirement if your bank has one.

What's the difference between a Plus Checking Account and a regular savings account?

A Plus Checking Account is for frequent spending and has no limits on transactions, while a savings account is for storing money and typically limits withdrawals. Savings accounts pay higher interest, but checking accounts offer debit cards and check-writing ability for everyday use.