Essential Checking
Essential Checking helps you manage spending, bills, and deposits without overdraft or NSF fees. Open with $5, keep no minimum daily balance, and bank online or in the app.
Pay, deposit, and track
Opening your account is easier than ever. You only need to make a $5 minimum deposit and there is no minimum daily balance.*
Manage your account online or in the 1st Source app, or visit one of our 80+ banking centers for one-on-one help.
Online Money Management tools bring your spending, budgets, goals, and non-1st Source accounts into one view. Use it to notice patterns, plan for upcoming expenses, and track your progress over time.
View Credit Score updates, helpful tips, and goals through Online and Mobile Banking. The simulator shows how different financial choices may affect your credit and offers suggestions.
What to know about Essential Checking
| Account type | Non-interest-bearing personal checking account for everyday spending, deposits, bills, and digital banking. |
|---|---|
| Best fit | Clients who want a simple account with a low opening deposit, no minimum daily balance requirement, and no overdraft or non-sufficient funds fees. |
| Minimum deposit to open | $5. |
| Account Service Fee | $5 per statement cycle. |
| How to avoid the Account Service Fee | We waive the fee for the first two statement cycles. After that, we waive it for clients ages 13 to 24, clients with validated student status, and clients age 65 or older. No minimum daily balance is required. |
| Overdraft and NSF fees | Essential does not charge overdraft or non-sufficient funds fees. A transaction may be declined when there is not enough money available in the account. |
| eStatements | eStatements are the default and cost $0. |
| Paper Statement Fee | $2 per statement cycle. We waive this fee for clients age 65 or older. |
| Additional printed statements | $5 for each statement printed at a banking center. |
| Checks | Personal checks are not available with this account. |
| ATM fee rebates | We reimburse the 1st Source fee for using a non-1st Source ATM up to four times during each 12-month account anniversary period. Different rebate terms apply to clients who qualify as students. |
| Free digital banking tools | Online and Mobile Banking, eStatements, mobile deposit, Bill Pay, transfers, card controls, money management tools, credit score monitoring, identity theft protection, and financial education resources. |
| Greenlight | Up to five free* Greenlight accounts are included, subject to eligibility and account terms. Enroll through Online or Mobile Banking after the account is open. |
This summary is for quick reference. Other account and service fees may apply. View the full fee schedule and account disclosures.
Online and mobile banking
Manage more than just your day-to-day banking in the 1st Source app. Our digital tools help you understand where your money is going and plan what comes next.
Easily track your spending habits, organize expenses, and create a budget that fits your life. Set savings goals and track your progress so you can celebrate small wins along the way. You can also monitor your credit score and learn what factors affect it, helping you make informed decisions as you prepare for milestones like buying a car, renting an apartment, or making a major purchase.
Certified low-cost checking
Whether you’re opening your first checking account or looking for a fresh start, Essential Checking keeps things straightforward. You get a low-cost account with no overdraft fees, easy access to your money, and digital tools that help you stay on top of everyday banking.
Manage your money with predictable costs and no overdraft or NSF fees.* This account meets Bank On National Account Standards that set clear requirements for low-cost, low-fee accounts so you’ll know exactly what to expect.
Plan for how you bank
You need one account for purchases, bills, deposits, and balance checks, with Online and Mobile Banking included.
You want to avoid overdraft and NSF fees, and you don’t want a minimum daily balance requirement.
You want a debit card, flexible digital banking, and useful tips to manage your money, spending, and credit.
Help kids build money skills
Add up to five free kid’s debit cards with parental controls. Each child can have their own card, while you send money, review activity, set spending controls, and manage the card in the app.
Kids and teens can earn allowance for completed chores, make everyday spending choices, and work toward savings goals. These hands-on tools help them understand how earning, spending, and saving work together. There are also financial literacy videos, minigames, and quizzes to empower them for today, tomorrow, and for life.
As your teen gains experience, you can open an Essential Checking account for them with a parent or guardian at one of our banking centers.
Open online with a $5 minimum deposit. Applicants under 18 need to visit a banking center with a parent or guardian.
Account Service Fee: $5 per statement cycle.
You may avoid the Account Service Fee if you are age 13-24, a validated student, or age 65 or older.
Paper Statement Fee: $2 per statement cycle. The Paper Statement Fee is waived for clients age 65 or older.
All fees are waived for the first two statement cycles after account opening.
