Maspeth Federal Savings offers two types of FREE Checking Accounts. They are similar in many instances, but each has a few of their own characteristics that will make your finances easier. Plus at Maspeth Federal, all checking accounts are insured up to FDIC limits.
Here are some great features with our Checking Accounts:
No Minimum Balance*
No Direct Deposit Requirement
No Monthly Service Fees
Unlimited Check Writing
Unlimited Use of Maspeth Federal ATMs**
Our N.O.W. Account offers you a checking account with the benefit of earning interest. Interest is earned on any amount over $1.00 and it is compounded daily and credited monthly.
With the N.O.W. Account you receive an easy to read monthly statement showing the date, check number, and the amount of each check that was cashed during that period along with any interest your money has earned that month.
Check our N.O.W. Checking Account interest rate here. Fees could reduce earnings on N.O.W. Account.
The Personal Demand Checking Account, for the most part, is almost exactly the same as the N.O.W. Account. All the same features apply to the Personal Demand Checking Account with just two differences. One is that the Personal Demand Checking Account is a non-interest bearing account and the other is that your original cancelled checks are returned to you with your monthly statement (unless the receiver of your check processes the check as a "substitute check" as provided for in the Check 21 Act. Then you will receive the substitute check with your statement. In addition, if the receiver of your check processes the check as an e-check, your check may not be returned to you. Please refer to our disclosure brochure for more information).
Please contact us for more information and disclosure statement containing complete details regarding our current fees (if any), charges (if any), terms & conditions on all our accounts.
*A $1.00 deposit is required to open account, plus check printing charges if any. **Foreign bank charges may apply. ***Specialty checks only. VISA is a registered trademark of VISA International Services Association.