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Basic Checking

The conveniences of a checking account no matter your balance—no minimum requirement!

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Basic Checking

A checking account that keeps things simple.


  • No minimum balance
  • Unlimited transactions and check writing
  • First 40 checks FREE
  • Multiple overdraft protection options
  • Visa® debit card with the convenience of paying at retailers with a tap, a swipe, or a chip


  • You use direct deposit, are 50 or older, or under age 25 — no monthly fee!
  • You don't want to have to maintain a minimum balance
Elements Debit Cards

Get a Debit Card that is So You

Choose from three debit card options when you apply for your checking account:

  • Elements - Our standard debit card style
  • Butler - Back the Bulldogs every time you use it
  • Indianapolis Indians - Show your support for Indianapolis’ Minor League baseball team

How do I know if Basic Checking is right for me?

A couple depositing a check with their cell phone

If you are at least 50 or under 25, this could be the right checking account for you because there is no monthly Maintenance Service Charge no matter what balance you maintain. If you’re between 25 and 49, you also have no monthly fee as long as you have direct deposit or keep a balance of at least $10,000 across all accounts. If you want the freedom of unlimited transactions and check writing, this is also a good choice for you. With Basic Checking, you'll also enjoy:

Great Features
  • No minimum balance
  • First 40 checks FREE
  • Real-time fraud alerts
  • Online check images
  • Ability to connect your account to Apple Pay, Google Pay, Samsung Pay and other digital wallets
  • FREE access to your credit score
  • Visa® debit and ATM card with security chip accepted anywhere Visa is
  • Access to more than 78,000 surcharge-free ATMs worldwide
  • Shared branch access at more than 5,000 branches nationwide
  • Lost debit card? No problem. Just freeze it from anywhere using the Card Control app. Then use CardSwap when you get your new card to update your payment info in just one place for over 50 online shopping, streaming, and other subscription services
  • The convenience of direct deposit of payroll or federal benefits

Note: Basic Checking does not have dividends and, therefore, does not have specific rates.

Open an Account Compare to Other Checking Accounts

How does Basic Checking compare to other checking options?

One difference is that Basic Checking does not earn dividends. See below for other comparisons.


  Basic Checking High Interest Checking Student Edge Checking
Key Benefits

No minimum balance requirements

Multiple overdraft protection options

First 40 checks FREE

New accountholders enjoy 5.00% APY for 12 months on balances up to $20,0001

Eligible to earn dividends with only 15 qualifying transactions per statement cycle

Multiple overdraft protection options

First 40 checks FREE

For students ages 15 to 24

No minimum balance requirements

No overdraft fees

A Good Option If You

Use direct deposit, are 50 or older, or under age 25 — no monthly fee!

You don't want to have to maintain a minimum balance

Want the flexibility of a traditional checking account while you earn dividends

Typically maintain a high daily balance

Are a student that wants the flexibility of no minimum balance with the security of no overdraft fees

Want to teach your child how to manage their money

Annual Percentage Yield (APY)

5.00% APY on balances up to $20,000 for new accountholders during their 12 months1

Unlimited Transactions
No Minimum Balance
Monthly Maintenance Service Charge

$0 if you set up direct deposit, maintain a balance of $10,000 in your Elements accounts, or are age 50 or older or under age 25

Otherwise, $5 per month

$0 when enrolled in estatements!

Otherwise, $5 per month


No Overdraft Fees
First 40 Checks Free

What fees can I expect?

Maintenance Fees

Basic Checking has no monthly Maintenance Service Charge if you set up direct deposit or maintain a balance of $10,000 or higher (including savings, checking, and loans). There is also no monthly Maintenance Service Charge if you are age 50 or older or under age 25. If none of those conditions apply to you, there is a $5 monthly Maintenance Service Charge.

Overdraft Fees

An overdraft occurs when you do not have sufficient available funds (Available Balance) in your account to cover a transaction but we pay it, anyway, for a fee. Under our standard overdraft practices, we will charge you a fee of up to $32 each time we pay an overdraft. There is no limit on the total fees we can charge you for overdrawing your account. Learn more about overdraft coverage.

Ordering Checks

There might be times when you need to write an actual paper check, so it’s good to have some on hand. Your first 40 checks for your new checking account are FREE. Check orders for Elements Financial members over 50 years of age or retired are free, as well. After your first 40 checks, you may reorder checks for your account. Checks typically range from $14 to $30 per 80 checks. Call us for specific check printing pricing and reorders at 1-317-276-2105.

Other Possible Fees

There are small fees for requested transactions, such as asking for an account history printout or rushing a debit card replacement. You can view these and other fees within the checking account agreement and terms and conditions. 

That’s it, there are no other fees with Basic Checking!

What overdraft coverage comes with my account?

A family of three shopping in the winter

Elements authorizes and pays overdrafts from checks and automatic bill payments. We will charge you a fee of up to $32 each time we pay an overdraft. To avoid overdraft fees, you can set up an auto-transfer of money from one of your Elements accounts to the other to match the exact amount of your overdraft. There is no fee for this service.

How to Set Up Auto-Transfer for Overdrafts

Elements does not authorize and pay overdrafts for ATM transactions and everyday debit card transactions unless you ask us to by signing up for Overdraft Privilege Extended Coverage. 

Learn More about Extended Coverage

Is Elements Online Banking easy to use?

A woman with her phone and a bag of shopping items


It’s easy to do your banking and budgeting with Elements — no matter where you are. Our goal with online banking is simple: to provide you with a state-of-the-art digital banking experience that you can count on and is consistent across all devices.

With Elements Online Banking and our Mobile App, you can:

  • Check your balances, make loan payments, and transfer money between accounts
  • Deposit checks using your phone or computer camera
  • View check images online
  • Pay your bills online 24/7/365
  • Review your account history with a 14-month electronic archive of statements
  • Locate branches and ATMs near you
  • See your credit score with any checking account or loan
  • Pay friends and family conveniently with Zelle® plus other digital wallet options
  • And more

Learn More about Online Banking

I like to use digital wallet options (like Apple Pay) to pay for things. Does Elements offer that?

A woman paying with her phone

Yes! Elements offers a variety of digital wallet options to help add security and simplicity to your life—and we are constantly adding even more options. For instance, your debit card lets you make payments from your checking account via:

  • Apple Pay
  • Google Pay
  • Samsung Pay
  • PayPal
  • Zelle®
  • Amazon Reload
  • This logoanywhere Visa is accepted online

Learn More about Digital Wallet Options

Why should I choose Elements for my checking account?

A woman depositing a check with her phone.

Like a Bank, Only Better!

Better Rates. Fewer Fees.

Because we’re a credit union, we return profits to members in the form of reduced fees, higher savings rates and lower loan rates.

Trusted Advice. Fresh Approach.

We pride ourselves in being a trusted source for financial education. Your financial wellness expert will come to your workplace to answer questions and provide you with one-on-one assistance as you navigate the changes that come with each of life's stages.

Respected Locally. Accessed Globally.

Headquartered in Indianapolis since 1930, we rank among the top 3% of credit unions nationally2. We serve members in all 50 states and 50+ countries. You’ll have access to 5,000+ shared branches nationwide and 78,000+ surcharge-free ATMs globally.

High Tech. Human Touch.

Our technology makes banking with Elements easy. From quick digital applications to online and mobile banking, we’ll be by your side wherever you go. We’re here for you with member service available 24/7 and live chat during the workday.

Get Started

How do I open an account?

Getting started is as easy as 1-2-3!

  1. Open an account online - Open an account online in as little as 10 minutes. Or call 1-800-621-2105 to get started. Have your government-issued ID (driver’s license, state ID, or passport) and your Social Security number ready.
  2. Check your email - You will receive an email within one business day to notify you of account approval. That’s it! Your Basic Checking Account is now open.
  3. Enroll in Online Banking - Easily check your balances, make loan payments, pay bills and transfer money between accounts from your smartphone, tablet, laptop or desktop. Learn more about Online Banking.

Open an Account Enroll in Online Banking

Elements has all the features I look for in a bank including an easy to use app and I earn a great rate on my checking account.

- John S. | Member since 2018
  1. 1 Promo 5 High Interest Checking (Promo HINT) is a High Interest Checking account with blended rate tiers, meaning the stated dividend rate will be paid on the portion of the balance for each tier. Tier 1 earns a promotional 5.00% fixed Annual Percentage Yield (APY on balances up to $20,000.00 for the first 12 months from the account opening date. *Tier 2 pays a blended APY ranging from 5.00% to 2.02% on balances from $20,000.01 to $50,000.00 and is variable and may change at any time without notice. To earn Tier 1 or Tier 2 dividend rates, 15 qualifying transactions must post per statement cycle on the account. The statement cycle includes all transactions posted after the last business day of the prior month through the last business day of the current month. Accounts not meeting the qualifying transaction threshold will earn 0.05% APY which is variable and may change at any time. Rates are accurate as of March 1, 2024. On the first day of the month following the account opening anniversary month, the Promo 5 High Interest Checking (Promo HINT) APY will automatically convert to the then current non-promotional High Interest Checking account APY which is variable and may change at any time without notice. Current High Interest Checking account holders, Promo 4 High Interest Checking account holders and those with any High Interest Checking accounts closed less than 180 days are not eligible. An existing High Interest Checking and Promo 4 High Interest Checking account cannot be converted to the Promo 5 High Interest Checking (Promo HINT) account. Limit one Promo 5 High Interest Checking (Promo HINT) account per person. Other qualifications may apply. Promotional offer may be discontinued at any time. Only the following are qualifying transactions: Debit card purchases, checks, bill payments, ATM withdrawals and ACH withdrawals. No other transactions qualify. At least one account holder must be at least 18 years old. Fees may reduce earnings.
  2. 2 Based on asset size as of 12/31/2022.