Fee-Free Banking

The biggest difference between a bank and a credit union is where the money goes. Credit unions like Amplify are non-profit financial corporations that are owned and controlled by their members and managed by a volunteer Board of Directors. We do not have shareholders, which means the money we earn is returned back to our members. This means we can do things like offer lower rates, better customer service, and, of course, make the switch to fee-free banking. To learn more about membership requirements, visit our Help Center.

Amplify offers two free overdraft programs to our members. Our overdraft prevention program attempts to avoid overdrafts by applying funds from a connected savings account or line of credit. Our overdraft protection program will, at the discretion of our team, temporarily provide funds to complete overdrafts from qualified members. Click on the Ask Amplify links above to learn more about both fee-free overdraft programs.

It does not. At Amplify, our philosophy is simple—if you are asking us to safeguard your money, then charging fees on those funds is never in your best interest. And while we remain committed to competitive rates and quality service for our borrowers, our lending services will remain the complement to our banking services, helping drive the income that makes fee-free banking possible.

One of the goals behind fee-free banking is to provide a more equitable benefit to all members regardless of how much you have in your deposit accounts. That is why Amplify now offers fee-free banking instead of interest on our standard checking and savings accounts. That said, we continue to offer high-interest savings tools like certificates of deposit or money market accounts for those looking to grow their savings.

Thanks to fee-free banking, Amplify charges $0.00 for any bank fees that we control. This includes account maintenance fees, overdraft fees, wire transfer fees, and so many more. That said, there are times where a third party may introduce additional fees to a transaction—in those (very) rare instances, our team promises to be both proactive and transparent in letting you know that certain fees may be applicable.

When you use an ATM, you are often being charged two sets of fees: out-of-network service fees from your bank or primary financial institution, and machine fees charged by the owner of the ATM. Not only will Amplify never charge you out-of-network fees to use another company’s ATMs, we also offer an ATM rebate program to help offset those machine fees. Learn more by visiting Ask Amplify.