Why Planet Fitness Insists on Checking Accounts: The Real Reason Behind the Policy

AvatarByJeff Duncan Fitness

Have you ever walked into a gym, excited and ready to start your fitness journey, only to be told that you need a checking account to sign up? This requirement may seem strange and even frustrating, especially if you don’t have a checking account or prefer to use cash. But have no fear, because today we are diving into the question: Why does Planet Fitness require a checking account? From their strict policies to the reasoning behind it all, we’ll explore the ins and outs of this controversial topic. So grab your gym bag and let’s uncover the truth behind this fitness club’s policy.

Planet Fitness is a well-known and popular fitness club that caters to individuals of all fitness levels. With over 2,000 locations worldwide, Planet Fitness prides itself on offering a judgment-free environment for its members to work towards their health and fitness goals. However, one requirement that often raises questions from potential members is the need for a checking account. In this detailed article, we will explore why Planet Fitness requires a checking account and what it means for members.

The Purpose of Requiring a Checking Account

One of the main reasons why Planet Fitness requires its members to have a checking account is for billing purposes. As with any membership-based business, Planet Fitness needs to ensure that it can accurately and efficiently collect payments from its members. By requiring a checking account, the company can set up automatic payments for membership fees each month. This eliminates the hassle of manual payments and potential late fees for forgetful or busy members.

Additionally, having a checking account helps Planet Fitness keep its membership fees low. By automating payments through direct debit, the company can save on administrative costs associated with collecting payments through other methods. This cost savings is then passed onto its members in the form of lower membership fees.

The Benefits of Having a Checking Account at Planet Fitness

There are several benefits to having a checking account when you are a member of Planet Fitness. The first is convenience. With automatic payment set up through your checking account, you don’t have to worry about manually paying your membership fees each month or risking late fees due to forgotten payments.

Furthermore, having a checking account also gives you access to other features offered by Planet Fitness. For example, some locations offer free fitness training sessions as part of their membership packages. By having an active checking account linked to your Planet Fitness membership, you can easily sign up for these sessions without any additional hassle or paperwork.

Furthermore, with an active checking account, you can also take advantage of the company’s nationwide network of gyms. If you are traveling and need to work out while on the road, having a checking account enables you to access any Planet Fitness location without any additional fees or hassle.

Alternatives to a Checking Account at Planet Fitness

Some potential members may feel hesitant about getting a checking account solely for their Planet Fitness membership. However, there are alternatives available for those who do not wish to have a checking account.

One option is to pay for your membership fees in advance. This eliminates the need for a checking account as payments can be made with cash, credit cards, or even gift cards. However, this may not be suitable for everyone as it requires committing to paying for several months upfront.

Another option is to use a prepaid debit card. These types of cards allow you to load money onto them and use them like a regular debit card, but without the need for an actual bank account. Some prepaid cards also come with direct deposit options, which can be linked to your Planet Fitness membership.

Why Planet Fitness Requires Memberships Fee in Advance

In addition to requiring a checking account, Planet Fitness also has a policy of collecting membership fees in advance. This means that your payment at sign-up is actually your payment for the following month’s membership. While this may seem like an inconvenience for some members, there are several valid reasons behind this policy.

Firstly, collecting fees in advance is another way that Planet Fitness ensures timely and efficient payments from its members. By paying in advance, members are less likely to miss payments or have insufficient funds when it comes time to pay their monthly fee.

Furthermore, collecting fees in advance helps the company manage its finances and plan for future growth and investments. With predictable cash flow from its members’ advance payments each month, Planet Fitness can better plan for facility upgrades, new equipment purchases, and even expansions into new locations.

The Importance of Honoring Membership Agreements

When signing up for a membership at Planet Fitness, members are required to agree to the terms and conditions outlined in their membership agreements. This includes authorizing the company to collect fees through their checking account or alternative payment method.

It is essential that members honor these agreements to avoid any potential legal consequences. Failure to make payments can result in accumulation of late fees, interest charges, and even suspension or termination of your membership. Additionally, not adhering to membership agreements can have a negative impact on your credit score if you are unable to fulfill your financial obligations.

While it may seem like an inconvenience at first, having a checking account linked to your Planet Fitness membership has many benefits. It makes payments convenient, helps keep membership fees low, and gives you access to additional features offered by the company. For those who do not wish to get a checking account, there are alternatives available. However, it is essential to understand the importance of honoring membership agreements and making timely payments to enjoy all that Planet Fitness has to offer. With its inclusive environment and affordable pricing, Planet Fitness remains one

The Benefits of Having a Checking Account at Planet Fitness

Having a checking account at Planet Fitness can offer numerous benefits for both the gym and its members. Here are some of the main advantages that come with this requirement:

1. Easy and Convenient Payment Options
By requiring a checking account, Planet Fitness makes it easier for members to pay their monthly fees. This eliminates the need for physical cash or paper checks, making the process more convenient and secure. With a checking account, members can set up automatic payments, ensuring that they never miss a payment and avoid any late fees.

2. Streamlined Membership Management
Requiring a checking account also allows Planet Fitness to streamline their membership management. By having all members’ payment information in one place, it becomes easier for the gym to track memberships and renewals, especially in cases where members need to update their billing information.

3. Lower Processing Fees for the Gym
Accepting electronic payments through checking accounts results in lower processing fees for the gym compared to credit card payments. This means that by requiring a checking account as a form of payment, Planet Fitness can save money which can be used to improve their facilities and services for their members.

4. Encourages Financial Responsibility
Requiring a checking account also helps promote financial responsibility among its members. By having an established bank account solely dedicated to their fitness expenses, members are more likely to track their spending and have better control over their budget.

The Importance of Financial Stability in Your Fitness Journey

Financial stability is one of the key factors that can impact your fitness journey in many ways. Here’s why:

1.Devote More Attention to Your Health Goals
With automatic payments set up from your checking account, you won’t have to worry about missing payments or visiting the gym just to pay your monthly fees. This allows you to focus on your fitness goals without any distractions.

2. No More Excuses to Skip Workouts
You may have been guilty of skipping a workout because you didn’t have enough cash on hand to pay the gym fee. This is no longer an excuse with a checking account as your form of payment, as the monthly fee is automatically deducted from your account. This helps you stay committed and consistent with your workouts.

3. Better Management of Gym Expenses
Having a separate checking account dedicated to your fitness expenses allows you to track and manage your gym costs better. You can monitor how much you are spending on your membership, personal training sessions, new workout gear, and nutrition supplements. This helps give you a clear picture of where your money is going and if it aligns with your budget.

4. Positively Impact Your Overall Finances
Maintaining financial stability through managing expenses can have a positive impact on other aspects of your life as well, including your mental health. Knowing that you have control over your finances can reduce stress and improve overall well-being, which can also benefit your fitness journey.

The Process of Setting Up Automatic Payments at Planet Fitness

Once you have opened a checking account and decide to make it the primary form of payment for Planet Fitness, here’s what you need to do:

1. Provide Your Checking Account Information
You will need to provide Planet Fitness with the necessary information regarding your bank account like routing number and account number for automatic payments to be set up properly.

2. Choose Automatic Payment Date
Planet Fitness usually offers flexibility when it comes to setting up automatic payments. You can choose the date that works best for you each month for the payment to be withdrawn from your account.

3. Update Billing Information
In case you change banks or need to update your account information, it is your responsibility to inform Planet Fitness to avoid any disruption in payments.

Overall, having a checking account as a requirement at Planet Fitness offers benefits for both the gym and its members. From easy payment options and streamlined membership management to promoting financial responsibility and positively impacting your fitness journey, it is a win-win situation. So, if you don’t have a checking account yet, now may be the time to open one and take advantage of these benefits at Planet Fitness.

Q: Why does Planet Fitness require a checking account?
A: Planet Fitness requires a checking account for membership payment and to ensure that members have the means to afford their monthly fees.

Q: Can I pay for my Planet Fitness membership with cash or credit card instead of a checking account?
A: No, Planet Fitness only accepts payment through a checking account. This ensures that the funds are readily available on a consistent basis.

Q: Do I need to have a specific type of checking account to join Planet Fitness?
A: No, any valid checking account will suffice. You can use either a personal or joint account as long as it is linked to your membership.

Q: What happens if I do not have a checking account?
A: If you do not have a checking account, you can still join Planet Fitness by purchasing an annual membership upfront. However, this option may not be available at all locations.

Q: Can I use someone else’s checking account for my Planet Fitness membership?
A: No, the primary member’s name must be associated with the checking account used for payment. This helps prevent any fraudulent activity.

Q: Is there any way to waive the requirement of a checking account for my Planet Fitness membership?
A: Unfortunately, no. A valid checking account is mandatory for all memberships at Planet Fitness. However, you can choose to pay annually in advance instead of monthly through your bank’s bill pay service.

In conclusion, Planet Fitness requires a checking account for several reasons. Firstly, it ensures the safety and security of both the gym and its members by minimizing the risk of fraudulent transactions. Secondly, it streamlines the payment process for both parties, eliminating the need for manual payments or processing fees. Additionally, requiring a checking account allows for seamless membership renewals and reduces the chances of membership lapsing. Although it may inconvenience some individuals without a checking account, Planet Fitness offers alternative methods such as prepaid cards or yearly upfront payments to accommodate those who do not have one. However, having a checking account is beneficial beyond just being a requirement for membership at Planet Fitness. It encourages financial responsibility and budgeting skills, which are essential for overall financial well-being. Overall, while there may be certain inconveniences associated with this requirement at first glance, requiring a checking account benefits both the gym and its members in numerous ways.

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Jeff Duncan
Jeff Duncan, the owner and Head Coach of CrossFit Pearl District, is dedicated to fostering a supportive and effective training environment.

With a strong belief in the principles of movement mechanics, consistency, and intensity, Jeff has cultivated a community that thrives on continuous improvement and mutual support.

From 2024, Jeff Duncan has expanded his passion for CrossFit beyond coaching by writing an informative blog dedicated to the CrossFit niche. His blog features a variety of content aimed at providing valuable information and insights to the CrossFit community.

Jeff’s posts cover a wide range of topics including training techniques, nutrition advice, workout routines, and answers to common queries within the niche. This transition to blogging allows Jeff to reach a broader audience, sharing his expertise and helping individuals at all levels of their fitness journey.