Planet Fitness requires members to provide a checking account for a few key reasons tied to their business model and membership structure. Primarily, this approach facilitates convenient and reliable payment processing for monthly membership dues.
One of the main reasons is the facilitation of automatic payments. By linking a checking account, Planet Fitness can automatically withdraw the monthly dues, ensuring payments are received on time without requiring members to remember to make manual payments. This not only enhances convenience for members but also helps the gym maintain consistent revenue.
Additionally, having a checking account on file generally lowers processing fees compared to credit card transactions. This savings can be passed on to members in the form of lower membership fees, aligning with Planet Fitness's value proposition of offering affordable fitness options. Since the company markets itself as a budget-friendly gym, this model supports their mission to keep memberships low-cost.
It's also worth noting that by requiring bank account information, Planet Fitness can implement their policy regarding membership cancellation or freezes more effectively. If a member opts to cancel but has outstanding dues, the gym can automatically address any fees owed, streamlining their administrative processes.
While this requirement might seem inconvenient to some, it's ultimately designed to sustain the business model that allows for affordable gym access. However, potential members should always feel free to reach out to their local branch for more specific explanations or to discuss payment alternatives or concerns. This transparency helps to foster trust and ensures that members feel comfortable with their choice to join.