A flex checking account allows individuals to avoid a monthly service charge by using specific bank services, according to First Community Bank. These could include signing up for e-statements, having a monthly direct deposit into the account, or logging into online banking once a month. These services vary by bank.
As of 2015, the fee to open or maintain a flex checking account is either free or minimal, and opening deposits typically range from $25 to $100, depending on the bank or credit union. Community Trust Bank notes that there is a $100 minimum deposit to open a flex checking account, but no monthly maintenance fees and no minimum balances. The accounts allow for unlimited check writing, and it is also free to withdraw money from these accounts through the bank's ATM.