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When you open a bank account, you may be faced with paying certain fees. We explain what they could be, although everything will depend on the financial institution of your choice.
When you have money or pretend to have it, either in the form of savings or credit, the first thing that comes to mind is to go to a financial institution. What you must be clear about is that one of the banks’ businesses is to charge commissions for any of their products and these can come in different forms.
Whether it’s a checking account or a savings account, some of the fees you may face are:
Generally these types of rates are monthly. According to research by Doughroller, the maximum that can be paid for this service in 2022 is around $20 per month.
A handful of banks waive this maintenance fee if you maintain a minimum balance in the referred account, make a minimum number of payments or related transactions to your debit card each month, and even when you receive direct deposits that meet a minimum threshold. each month.
One way to avoid these fees is by setting up direct deposit for your paychecks. If you do not meet the above requirements, you will most likely be charged this maintenance fee.
This is a charge that is generally charged in most financial institutions in the United States and refers to the fact that you make the payment of certain invoices even when there is no money in your account in your favor.
By 2022, overdraft fees from most US banks are around $30 per person for an overdraft. The situation is that every time you swipe your card or try to pay for something without the funds, you will be charged a fee. So you have to be careful in this handling.
Fees for the use of the ATM
In general, banks are part of large ATM networks that will allow you to withdraw money from your cards without any fees. The problem is when you use an ATM that is not in the network, there they will charge you an extra fee. Rates will be variable.