Yes, BECU offers several checking account options for members

BECU (Boeing Employees Credit Union) provides multiple checking accounts designed for different banking needs. The main options are the Basic Checking account, which has no monthly fee and no minimum balance requirement, and the Premium Checking account, which includes additional features like higher interest rates and fee waivers. BECU also offers a Youth Checking account for members under 18 and a Business Checking account for sole proprietors and small businesses.

All BECU checking accounts come with a debit card, online banking access, and mobile app functionality. You can deposit checks through mobile deposit, withdraw cash at BECU ATMs and shared branching locations, and set up direct deposit. The specific features, interest rates, and any associated costs vary by account type, so the right choice depends on how you plan to use the account.

Key Takeaways

  • BECU's Basic Checking account has no monthly maintenance fee and no minimum balance, making it the lowest-cost option for most members.
  • Premium Checking accounts earn interest on your balance and waive certain fees, but may require a higher opening deposit or minimum balance.
  • You can open a BECU checking account online, by phone, or in person at a branch if you meet membership requirements.
  • BECU membership is restricted to people who work or live in certain areas, or who have family members already in the credit union.

BECU membership requirements before opening a checking account

Before you can open any BECU checking account, you must first become a BECU member. Membership is not open to everyone. You are generally may be able to access if you work for Boeing or one of its subsidiaries, work for certain other employers in the Pacific Northwest, live in Washington state, or have a family member who is already a BECU member. Some employers have group membership agreements with BECU, which can make joining easier.

If you do not meet these criteria directly, you may still be able to join through a family member. BECU allows immediate family members of current members to open accounts. You will need to provide proof of your relationship and the existing member's account number when you join.

How to open a BECU checking account

Once you confirm you meet membership requirements, you can open a checking account through three methods: online, by phone, or in person at a BECU branch or service center. The online process typically takes 10 to 15 minutes and requires basic personal information, a Social Security number, and a government-issued ID. You will also need to fund the account with an opening deposit, though the amount varies by account type—Basic Checking may require as little as $25, while Premium Checking might require $500 or more.

If you open online, your debit card usually arrives within 7 to 10 business days. You can use your account for online bill pay and transfers immediately, even before the physical card arrives. If you prefer to open in person, a BECU representative can answer questions about which account type fits your needs and can often issue a temporary card on the spot.

Basic Checking versus Premium Checking features

BECU's Basic Checking account is designed for people who want straightforward banking without fees. There is no monthly maintenance charge, no minimum balance requirement, and no limit on the number of transactions. You get a debit card, online banking, mobile deposit, and access to BECU's ATM network and shared branching locations. Interest is not paid on the balance in a Basic Checking account.

Premium Checking accounts earn interest on your balance, though the rate varies based on current market conditions and your account balance. Premium accounts also waive certain fees, such as overdraft protection fees or wire transfer fees, that would otherwise apply. The trade-off is that Premium Checking typically requires a higher opening deposit (often $500 to $1,000) and may require you to maintain a minimum balance to avoid a monthly fee. If you maintain the minimum, the interest earned and fee waivers can offset the cost of maintaining a larger balance.

Fees and costs you should know about

BECU's Basic Checking account has no monthly maintenance fee, making it one of the lowest-cost options available. However, certain transactions or services do carry fees. Overdraft fees apply if you spend more than your balance, though BECU offers overdraft protection that can link your checking account to a savings account to prevent overdrafts. Out-of-network ATM withdrawals may incur a fee, though BECU's shared branching network is extensive and can reduce the need to use other banks' ATMs.

Premium Checking accounts have a monthly maintenance fee if you do not maintain the required minimum balance, though the fee is typically waived if you meet the balance requirement or set up direct deposit. Wire transfers, cashier's checks, and stop payment requests may carry fees on either account type. BECU publishes a complete fee schedule on its website, and you can also ask about current fees when you open your account.

How BECU checking accounts compare to other credit unions

BECU is one of the largest credit unions in the Pacific Northwest, which means it has more branches and ATMs than smaller credit unions in the region. Compared to national credit unions like Navy Federal or Pentagon Federal, BECU's membership requirements are more restrictive—you must have a specific connection to Boeing, the Pacific Northwest, or an existing member. However, BECU's Basic Checking account has no monthly fee and no minimum balance, which matches or beats many competitors.

BECU's interest rates on Premium Checking accounts vary with market conditions, so comparing rates directly requires checking BECU's current rates against other institutions. One advantage of joining a credit union like BECU is that you become a member-owner, which means you may receive dividends or profit-sharing benefits that banks do not offer. BECU also tends to have lower fees overall than traditional banks, particularly for overdrafts and out-of-network ATM use.

What to do if you do not meet BECU membership requirements

If you cannot join BECU because you do not meet the membership criteria and have no family member in the credit union, you have other options. Many other credit unions in Washington state and the Pacific Northwest have broader membership requirements. Some credit unions are open to anyone who lives or works in a specific geographic area, or who works in a particular industry. You can search for credit unions near you using the CO-OP network locator or the Shared Branch locator to find institutions that accept your membership.

If you prefer a traditional bank, most banks offer checking accounts with no monthly fee and no minimum balance, though they may have different fee structures for overdrafts and out-of-network ATM use. Online banks often have even lower fees and higher interest rates on checking accounts, though they do not have physical branches. The best choice depends on whether you need in-person service, how often you use ATMs, and whether you want to earn interest on your checking balance.

Frequently Asked Questions

Can I open a BECU checking account if I do not work for Boeing?

Yes. BECU membership is open to people who live in Washington state, work for certain employers in the Pacific Northwest beyond Boeing, or have an immediate family member who is already a BECU member. You can check BECU's membership page or call 1-800-233-2328 to confirm whether you meet the requirements based on your employer or location.

What is the minimum opening deposit for a BECU checking account?

Basic Checking typically requires a $25 opening deposit, while Premium Checking usually requires $500 or more. The exact amount may vary, so confirm the current requirement when you open your account online or by phone. You can fund the account with a transfer from another bank account.

Can I use my BECU debit card at ATMs outside the BECU network?

Yes, but you may be charged a fee by the other bank. BECU reimburses some out-of-network ATM fees for Premium Checking members, depending on the account tier. For Basic Checking, you can avoid fees by using BECU ATMs or the shared branching network, which includes thousands of ATMs and branches nationwide.

Does BECU checking earn interest?

Basic Checking does not earn interest. Premium Checking accounts do earn interest on your balance, though the rate changes based on market conditions and your account balance tier. Contact BECU directly or check their website for current interest rates on Premium Checking accounts.

How long does it take to receive my BECU debit card after opening an account?

Debit cards typically arrive within 7 to 10 business days of opening your account online. If you open an account in person at a BECU branch, you may receive a temporary card immediately. You can use your account for online transfers and bill pay before your physical card arrives.