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First Checking Account in Denver Guide

Your first checking account is where your paycheck lands, where your debit card draws from, and usually the first thing you need before you can save, budget or build credit. If you are a student or starting your first job in the Denver area, this guide covers what to look for in a first account and how Zing Credit Union’s accounts work.

What to look for in a first checking account

A few questions sort out most accounts quickly.

•  Is there a monthly fee? Some accounts charge a fee every month, or charge one unless you keep a set balance.

•  Is there a minimum balance? If an account requires one, dipping below it can cost you.

•  What happens if you overdraw? Spending more than you have can lead to overdraft or nonsufficient funds fees.

•  Where can you get cash for free? Out-of-network ATM fees add up when you are away at school or traveling.

•  Can you do everything from your phone? Mobile check deposit, transfers and card controls matter if you rarely visit a branch.

•  Can your paycheck go straight in? Direct deposit is usually the first thing a new employer asks for.

Zing’s checking options

Preferred Checking

Zing’s primary checking accounts do not have a monthly fee, and there is no minimum balance. Preferred Checking comes with a Visa debit card, direct deposit, and optional overdraft protection if you want a backstop against an accidental overdraw. Members get access to 30,000 fee-free ATMs nationwide and 5,000 shared branches through the CO-OP network.

Clear Card

If you are worried about overdrafting while you learn to budget, the Clear Card is a checkless account that does not allow overdrafts, so there are no overdraft or nonsufficient funds fees. You load only what you need and spend from that. Clear Card has no monthly fee, no minimum balance, and the same access to 30,000 fee-free ATMs and 5,000 shared branches.

Teen accounts

If you are under 18, a parent or legal guardian opens a teen account with you as joint owners. Teen accounts are for ages 13 to 18 and come with either a Visa debit card or a Clear Card.

Second Chance Checking

If you have been turned down for a checking account before because of your ChexSystems record, Second Chance Checking is easier to qualify for. It has a $12 monthly fee, and once you have a clean track record for a while, Zing can move you over to Preferred Checking.

Extras that reward your first paycheck

5 Buck Club

5 Buck Club adds $5 to your checking account on the last day of each month you qualify. To qualify, you need to be a member in good standing with a Zing personal checking account and debit card, a $500 or more ACH direct deposit each month, e-Statements, a valid email address on file, and 30 or more debit card purchases each month. Qualifying months also refund out-of-network ATM fees up to $5 per transaction, up to $25 a year. Ask Zing to add 5 Buck Club to your account. The $5 is subject to taxation.

Mile High APY

Mile High APY is a savings account that fills itself. Each debit card purchase is rounded up to the nearest dollar, and the difference moves into your Mile High APY account at the end of the day. Balances up to $5,280 earn the account’s Mile High APY, and balances above that earn a lower rate. For the current APY, see Zing’s rates page. You need a Zing checking account and debit card to use it.

Banking from your phone

The Zing mobile app lets you deposit a check by taking a photo (up to $5,000 a day), turn your card on or off, get alerts for low balances and login attempts, pay bills, pay with Apple Pay or Google Pay, check your credit score with credit monitoring, and log in with your fingerprint. The ATM locator finds fee-free ATMs and shared branches across the US.

Who can join and how to open an account

You can join Zing if you live or work in Denver, Adams, Arapahoe or Jefferson County, if a family member is already a member, or by becoming a member of the Friends of the GoWest Foundation. Membership starts with a $5 deposit into a share account.

You can open a checking account online or at a Zing branch. Then give your employer Zing’s routing number, 302075694, and your account number to set up direct deposit.

Frequently asked questions

Does a Zing checking account have a monthly fee?

Zing’s primary checking accounts do not have a monthly fee. Second Chance Checking has a $12 monthly fee.

Do I need a minimum balance?

No. Zing does not require a minimum balance in its checking accounts.

Can I open an account if I am under 18?

Yes, with a parent or legal guardian. Teen accounts are for ages 13 to 18 and are opened jointly with a parent or guardian.

I was denied a checking account before. Can I still open one?

Second Chance Checking is made for people with some dings on their ChexSystems record, and Zing can move you to Preferred Checking once you have a clean track record for a while.

Can I use ATMs when I am away at school or traveling?

Yes. Zing members can use 30,000 fee-free ATMs nationwide and 5,000 shared branches through the CO-OP network. The ATM locator in the app shows the nearest one.

How do I get my first paycheck deposited?

Give your employer Zing’s routing number, 302075694, and your checking account number. If your direct deposit is $500 or more a month, you may also qualify for 5 Buck Club.

Where to start

If you are opening your first account, start with the question that matters most to you: no fees, no overdraft risk, or getting paid. Zing Credit Union is a member-owned credit union that has served Denver since 1934, and its staff can walk you through which account fits before you open anything.

Membership eligibility required. Rates, fees and terms are subject to change. Federally Insured by NCUA.

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TRUTH IN SAVINGS DISCLOSURE

Except as specifically described, the following disclosures apply to all the accounts.

  1. Rate Information. The dividend rate, or interest rate, and annual percentage yield on your accounts are set forth on the reverse side. The annual percentage yield is a percentage rate that reflects the total amount of dividends/interest to be paid on an account based on the dividend/interest rate and frequency of compounding for an annual period. For Certificates of Deposit and IRA Certificates of Deposit, the interest rate and annual percentage yield are fixed and will be in effect for the term of the account.  The annual percentage yield is based on an assumption that interest will remain on deposit until maturity.  A withdrawal will reduce earnings.
  2. Nature of Dividends. Dividends are paid from current income and available earnings after providing for the required reserves.  The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
  3. Compounding and Crediting. Interest and dividends will be compounded and credited as set forth on the reverse side.  The dividend/interest period for each account is also set forth on our Rate and Fee Schedule.  The dividend/interest period begins on the first calendar day of the period and ends on the last calendar day of the period.
  4. Balance Information. The minimum balance required to open each account is set forth.  Interest is calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
  5. Accrual of Dividends. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account.  Dividends will begin to accrue on noncash deposits (checks) on the business day you make the deposit to your account.  If you close your account before accrued dividends are credited, accrued dividends will not be paid.
  6. Account Limitations. The account limitations for each account are set forth in our Membership and Account Agreement
  7. Your account will mature on the maturity date set forth on your account receipt or renewal notice.
  8. Early Withdrawal Penalties. A penalty may be imposed if you withdraw any of the certificate funds before the maturity date or the renewal date, if this is a renewal account.
  9. Amount of Penalty. For Certificates of Deposit and IRA Certificates of Deposit the amount of the early withdrawal penalty for your account is 90 days’ interest for a term of 12 months or less, and 180 days’ interest for a term over 12 months.
  10. How the Penalty Works. The penalty is calculated as a forfeiture of part or all of the interest that have been earned on the account.  This penalty applies to earned interest and principal.
  11. Renewal Policy. Certificate of Deposit accounts will automatically renew for another term upon maturity.  You have a grace period of seven days in which to change or withdraw the funds without being charged an early withdrawal penalty.
  12. Exception to Early Withdrawal Penalties. At our option, we may redeem the account before maturity without imposing an early withdrawal penalty under the following circumstances:
    • When an account owner dies
    • or is determined legally incompetent by a court
    • or other body of competent jurisdiction.
  13. Nontransferable / Nonnegotiable. Your account is nontransferable and nonnegotiable.  The funds in your account may not be pledged to secure any obligation of an owner except obligations with the Credit Union.
  14. FEES FOR OVERDRAWN ACCOUNTS. Fees may be imposed on each check, draft item, ATM card withdrawal, debit card withdrawal, debit card point of purchase, preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance.  The entire balance in your account may not be available for withdrawal, transfer or payment of a check, draft or item.  You may consult the Funds Availability Policy for information regarding the availability of funds in your account.  Fees for overdrawing your account may be imposed for each overdraft, item or transaction.  If we have approved an overdraft protection limit for your account, such fees may reduce your approval limit.  Please refer to the Rate and Fee Schedule for current fee information.

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Veterans Day All branches and drive-thru locations will be closed on Wednesday, November 11th in observance of Veterans Day.