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The Upgrade Rewards Checking Plus Account is an online-only checking account that offers up to 2% cash back on eligible purchases, no monthly fees, and early access to direct deposits. The account integrates with the Allpoint® ATM network, providing fee-free access to over 55,000 ATMs. Customers also enjoy benefits like discounted interest rates on loans and credit lines when paired with other Upgrade products. While the account has many perks, including high APY opportunities with a linked savings account, it’s entirely digital, meaning there are no physical branches for in-person banking.

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Written by:Casey Newton

Top Benefits

  • Cash Back Rewards: Earn up to 2% cash back on eligible purchases
  • No Fees: No monthly maintenance fees, overdraft fees, or insufficient funds charges.
  • ATM Access: Access to over 55,000 fee-free ATMs through the Allpoint® network. Out-of-network ATM withdrawals incur a $2.50 fee.
  • Early Direct Deposit: Get paid up to two days early with direct deposit.
  • High APY on Savings: Link an Upgrade Premier Savings account to earn competitive APYs when your account remains active.

Vendor Payments

The account allows payments through ACH transfers, wire transfers, and debit card transactions. Users can also utilize the mobile app to pay bills and transfer money. However, recurring bill payment features and business vendor-specific payment options are not part of this product.

Transactions

Upgrade Rewards Checking Plus offers several convenient ways to deposit and withdraw funds:

Deposit Options:

  • ACH transfer
  • Wire transfer
  • Direct deposit
  • Mobile check deposits

Withdrawal Options:

  • ATM withdrawals (free at Allpoint® ATMs, $2.50 fee for out-of-network)
  • ACH transfers
  • Wire transfers

Deposits and withdrawals are subject to limits.

Safety and Security

Upgrade provides a secure online banking experience with encryption technology to protect customer data. Additionally, FDIC insurance of up to $250,000 is offered through Upgrade's banking partner. Customers can manage security settings via the app, and there are no overdraft fees, making it a safer option for users concerned about unexpected charges.

Mobile App

The Upgrade mobile app offers a user-friendly platform for managing your finances:

  • Manage Accounts: View balances, track spending, and monitor rewards.
  • Money Transfers: Easily transfer funds between accounts or make mobile deposits.
  • ATM Locator: Find fee-free ATMs through the Allpoint® network.
  • Bill Payments: Pay bills and monitor account activity in real-time.

The app is designed for convenience, offering robust banking features with the ease of mobile access.

 

Who Should Use This Checking Account?

The Upgrade Rewards Checking Plus Account is ideal for individuals who:

  • Prefer an online-only banking experience with no physical branches.
  • Want a fee-free checking account with no monthly maintenance or overdraft fees.
  • Seek to earn cash back rewards on everyday purchases, especially at gas stations, convenience stores, drug stores, and restaurants.
  • Are comfortable with digital banking and do not rely on cash deposits.


How to Open an Account

Opening an Upgrade Rewards Checking Plus account is easy and entirely online. To get started, you’ll need:

  • Personal Information: Basic details such as name, address, and Social Security number.

    Funding Method: ACH transfer, wire transfer, direct deposit, or mobile check deposit.
    Requirements: There’s no minimum balance requirement
     

Conclusion

The Upgrade Rewards Checking Plus Account is an excellent choice for those seeking a digital-first checking account with no fees and cash back rewards. It offers useful features like early direct deposit, discounts on loans, and integration with a high-yield savings account. However, the account may not be the best fit for individuals who prefer in-person banking or require more robust cash deposit options. For those comfortable with online banking, Upgrade provides a competitive option with plenty of rewards and financial flexibility.