
Having a checking account with Exchange Bank can be a game-changer for your finances. With a range of benefits and features, you'll be able to manage your money with ease.
One of the standout features is the low monthly maintenance fee, which is only $9.99 per month. This fee can be waived if you maintain a minimum balance of $1,500.
You'll also appreciate the flexibility of mobile banking, which allows you to check your balance, pay bills, and transfer funds on the go. This feature is available through the Exchange Bank mobile app.
With Exchange Bank, you can enjoy free online banking and bill pay, making it easy to stay on top of your finances. This feature is available 24/7, so you can access your account information at any time.
Account Types
Exchange Bank offers two types of checking accounts: Exchange Classic Personal Checking and Exchange Premier Personal Checking.
Exchange Classic Personal Checking has a $100 minimum deposit to open and no monthly service charge. You can also enjoy features like debit card, digital wallet, online banking, and unlimited check writing.
One of the benefits of Exchange Classic Personal Checking is that there's no minimum balance required. However, you will be charged a $3 statement fee unless you opt for eStatements.
Exchange Premier Personal Checking, on the other hand, has a $100 minimum deposit to open, but it comes with a monthly service charge unless your average daily balance remains above $500.
Here's a breakdown of the monthly service charges for Exchange Premier Personal Checking:
Both accounts offer debit card, digital wallet, online banking, and unlimited check writing. Exchange Premier Personal Checking also offers paper checks and cashier's checks.
Features and Benefits
You can earn cash back with Kasasa Cash Back checking, which offers 3.0% cash back on up to $200 debit card purchases that post and settle to the account during a Monthly Qualification Cycle. This can add up to a maximum of $6 per cycle.
To qualify for rewards, you'll need to have at least 12 debit card purchases post and settle, along with at least one automatic payment or direct deposit, and enroll in e-Statements.
Some checking accounts at Exchange Bank don't require a minimum balance to earn rewards, like Kasasa Cash Back. Others, like Value Checking, have a daily balance requirement of $2,500 or above to avoid a monthly fee.
Here are some benefits of Exchange Bank checking accounts:
- Unlimited check writing
- Online banking and bill pay
- ATM/debit card
- e-Statements
- Cash back rewards with Kasasa Cash Back
- No minimum balance requirement with Kasasa Cash Back
- Accidental Death & Dismemberment Insurance coverage with Value Checking
Kasasa Cash
Kasasa Cash is a high-yield checking account that offers a unique set of benefits to its users. It requires a monthly direct deposit of at least $1,000 to qualify for the rewards.
One of the standout features of Kasasa Cash is its ability to earn a high interest rate, often up to 2.50% APY, making it a great option for those looking to maximize their savings.
Kasasa Cash also offers refunds on ATM fees nationwide, so you can withdraw cash without worrying about extra charges.
Kasasa Cash Back
Kasasa Cash Back is a checking account that puts cash back in your wallet with exclusive rewards. It's a great option for those who want to earn money back on their debit card purchases.
To earn rewards, you need to meet certain qualifications each month, which include making at least 12 debit card purchases, having at least one automatic payment or direct deposit, and enrolling in e-Statements.
You can earn up to $6 in cash back rewards per month, which is 3.0% of up to $200 in debit card purchases. ATM fees will also be reimbursed up to $25 per month.
Here are the benefits of Kasasa Cash Back:
- Nationwide ATM Refunds (up to $25 monthly)
- No minimum balance to earn rewards
- No monthly service charge
- Unlimited check writing
- Online Banking & Bill Pay
- Debit card
- Enroll and receive e-Statements
Even if you don't meet the qualifications one month, your account is still completely free with unlimited check writing.
Exchange Interest
Exchange Interest is a great feature to consider when choosing a financial institution. To open an Exchange Interest Checking account, you'll need to deposit at least $100.
The account has no transaction limitations, giving you the freedom to manage your finances as you see fit. This means you can make as many transactions as you need without any restrictions.

The account does come with a tiered minimum daily balance, which means you'll be charged a minimum balance fee if your balance falls below a certain threshold. This fee is calculated based on the minimum balance requirements.
Interest is compounded monthly and credited monthly, meaning you'll earn interest on your interest. This can help your savings grow over time, but it's essential to keep an eye on your balance to avoid any unnecessary fees.
Here's a breakdown of the minimum daily balance requirements:
- Minimum balance fees are calculated based on the tiered minimum daily balance
- The fee is charged when the balance falls below a certain threshold
Value
The Value account is a straightforward option that lets you bank without worry. You can open it with a low $50 deposit.
One of the benefits of the Value Checking account is that there's no minimum balance requirement. You can bank freely without worrying about maintaining a certain balance.
The account also comes with a $3 monthly fee, unless you have a daily balance of $2,500 or above. This can be a good option if you tend to keep a high balance in your account.
You'll have unlimited transactions with the Value Checking account, so you can write checks or use your debit card as much as you need to.
Here's a quick rundown of the account's features:
If you have a high daily balance, the Value Checking account can also earn interest. You'll need to have a daily balance of $1,000 or above to take advantage of this benefit.
Account Options
To open an Exchange Premier Personal Checking account, you'll need to make a $100 minimum deposit. This checking account comes with a monthly service charge, but you can avoid it if your average daily balance remains above $500.
The service charge is $5 if your average daily balance is between $100 and $500, and $10 if it's below $100. You'll also earn interest on the entire balance at the Exchange Savings Rate.
Here's a breakdown of the service charges:
- $0 if average daily balance > $500
- $5 if average daily balance is $100 – $500
- $10 if average daily balance is below $100
Classic Personal
The Classic Personal account is a great option for those who want a hassle-free banking experience. It requires a minimum deposit of $100 to open.

To avoid any monthly service charges, this account is a good choice. There is no minimum balance requirement, making it easy to manage your finances.
You can expect to receive your statements in the mail, but be aware that there's a $3 statement fee - unless you opt for eStatements, which are free.
Digital payments are made easy with a debit card, and you can also use digital wallets like Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, and Garmin Pay.
For online banking, you'll have access to BillPay and Alerts, making it simple to stay on top of your finances. Telephone banking is also available.
One of the benefits of the Classic Personal account is unlimited check writing, giving you the flexibility to write checks as needed.
NOW
You can manage your account settings to suit your needs. You can change your password at any time.
If you're having trouble accessing your account, you can reset your password by clicking on the "Forgot Password" link. This will send a password reset email to your registered email address.
Account deletion is a permanent option, and you should be aware that it cannot be undone.
Student
As a student, managing your finances can be a challenge, but with the right account, it can be a breeze. With no monthly service fee, you can bank without worrying about extra costs.
You won't have to worry about keeping a minimum balance in your account, giving you the freedom to spend your money as you see fit. This means you can focus on your studies without the added stress of managing your finances.
The account comes with a Visa Debit Card, which is perfect for making purchases or withdrawing cash when you need it. And with online and mobile banking, you can keep track of your account from anywhere.
You'll also receive e-Statements, which are a convenient alternative to paper statements. Plus, you can make unlimited transactions, so you can bank as much as you need to without worrying about limits.
Here are some key features of the Student account in a nutshell:
- No monthly service fee
- No minimum balance requirement
- Visa Debit Card
- Online & mobile banking
- e-Statements
- Unlimited transactions
Basics
The Exchange Bank checking account is a great option for those looking for a hassle-free banking experience. To open an account, you'll need to make a minimum deposit of $50.
One of the benefits of this account is that there's no monthly service charge. This means you can bank with peace of mind, without worrying about extra fees.
You won't need to worry about keeping a minimum balance in your account either, as there is no minimum balance requirement.
Here's a quick rundown of the account's fees:
- $3 Statement fee (unless you opt for eStatements)
- No fee for eStatements
Frequently Asked Questions
Is Exchange Bank legit?
Exchange Bank has a strong reputation for customer satisfaction, with few complaints filed with the Consumer Financial Protection Bureau. This suggests a high level of legitimacy and trustworthiness in the financial sector.
Can I open a checking account with a different bank?
Yes, you can open a checking account with a different bank, with no restrictions on the number of accounts you can have
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