Account Boeing Employees Credit Union (BECU), which was established in 1988 and has its headquarters in Tukwila, Washington, provides the BECU Member Advantage Savings Account. In addition to Washington, DC, BECU Online Banking Member Advantage Savings Accounts are available in all fifty states.
Important Takeaways
APY is higher than average The BECU Member Advantage Savings Account has an annual percentage yield of up to 0.50%, which is higher than the typical savings account interest rate.
- No monthly cost There are no monthly fees associated with this account.
- There is no initial deposit minimum. To open an online account, no minimum balance is needed.
- No ATM charges ATM transactions in the BECU Member Advantage Savings Account are free of charge.
- Rebates on ATM fees You will be reimbursed for ATM fees using this account—more information can be found in the terms and conditions.
Becu Savings Account Benefits and Drawbacks Benefits
• Available in all 50 states
• Account with a yielding dividend
• Covered by the NCUA.
• Having access to actual branches
• There is no signup bonus.
• Does not include a debit card
• Charges more than the average for wire transfers
FAQ’s
BECU SAVINGS ACCOUNT Are Boeing Employees Credit Union (BECU) savings accounts insured by the federal government?
Yes, the Federal Deposit Insurance Corporation (FDIC) backs your individual deposits up to a maximum of $250,000. In the event that an FDIC-insured bank or savings association fails, the FDIC, an independent government agency, safeguards your insured deposits. The insurance provided by the FDIC is backed by the government of the United States in its entirety. Yes, for each account ownership category, your Boeing Employees Credit Union (BECU) savings accounts are covered up to a maximum of $250,000 per share owner. The insurance fund is managed and federally insured credit unions are regulated by the National Credit Union Administration (NCUA), a federal agency. The asset is upheld by the full confidence and credit of the U.S. Government.
Is there a bonus for signing up at Boeing Employees Credit Union (BECU)?
There is no bonus for signing up for a BECU savings account.
What is the base starting store for the BECU investment account?
BECU savings accounts do not require a minimum deposit.
What kind of APY is provided by the BECU Member Advantage Savings Account?
The BECU savings account has an annual percentage yield (APY), which stands for 0.50%. Rates may change.
The Federal Reserve’s actions can influence a savings or checking account’s interest rate in part. Keep in mind that a savings account’s annual percentage yield (APY) is the amount of interest you will earn if you keep your money in the account for a full year. An APY takes into account the frequency with which your money earns interest (or compounds), whereas an interest rate does not. Your money will earn more the more frequently it compounds. Bank accounts with a financing cost that builds every day, for instance, will procure a better yield (and consequently a higher APY) than investment accounts that accumulate yearly.
What are BECU’s savings account fees?
There is no monthly service fee associated with the BECU savings account. To view all fees, see the breakdown section below.
• There is a $25 fee for domestic bank transfers.
• There is a $35 fee for incoming international bank transfers. If you use a nonbank money transfer service, you can save a lot of money on fees.
What benefits does the BECU savings account provide?
The following are the features of this savings account:
• ATM repayment – This record gives ATM access and will repay you for the ATM expenses charged by different organizations.
• Fraud monitoring: Your BECU savings account keeps an eye on your transactions to look for signs of possible fraud, like when you use your debit card out of the blue in another location or when you suddenly make a lot of expensive purchases.
• Free Online Bill Pay: With Online Bill Pay, you can quickly and easily pay your bills from your account.
• Mobile Banking Services: You can manage your money online or through a mobile app with your BECU business online banking login savings account. This includes using a smartphone app to deposit checks into your account.
• Nationwide ATM network – Use an ATM in your neighborhood to conduct business.
Is direct deposit to BECU savings account possible?
In most cases, you can direct deposit money into this account. However, it is contingent on the direct deposit program utilized by your employer. You can deposit your paycheck into a savings or checking account with most direct deposit programs. You can even split your paycheck between the two in some cases.
