Offer value details
Navy Federal describes Free EveryDay Checking as a no-minimum-deposit checking account with no monthly service fee, no minimum balance requirement to earn dividends, direct-deposit setup, debit-card access, online tools, and fraud monitoring.
Qualification requirements
The official product page says Free EveryDay Checking has no minimum deposit. Navy Federal's rates page lists a 0.010% APY for Free EveryDay Checking, and the product page says there is no minimum balance requirement to earn dividends.
Fees and costs
The product-specific fee and terms PDF lists a $0 monthly service fee, $0 Navy Federal ATM fee, $0 CO-OP Network ATM fee, and a $1 non-Navy Federal/non-CO-OP ATM fee. Navy Federal's fee page also lists possible stop-payment, dormant checking, check-copy, check-order, wire, and card mailing fees.
Availability
Navy Federal membership and account approval are required. The membership page says eligibility covers armed forces members, veterans, some Department of Defense personnel, and eligible family or household members. A $5 Membership Savings Account minimum balance is required to establish and maintain membership.
What to verify
- Navy Federal membership eligibility is limited and must be confirmed before applying.
- A Membership Savings Account with a $5 minimum balance is required to establish and maintain membership.
- The checking APY is variable and fees may reduce earnings.
- Non-Navy Federal/non-CO-OP ATM use, dormant account status, wires, stop payments, check orders, and other services can create fees.
Confirm current provider terms
Rates, rewards, fees, qualification rules, eligibility, and deadlines can change. Review the provider terms before applying.