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      • You could pay for a balance inquiry, meaning a fee for checking your account balance on an ATM. Normally, most checking accounts do not charge for in-network ATM usage, but you usually have to pay to use an out-of-network ATM even with “free” checking accounts.
      pocketsense.com › checking-accounts-balance-inquiry-fee-8286317
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  2. Mar 24, 2021 · Banks and credit unions tout checking accounts as “free” if they dont charge a monthly or per-transaction fee. Because you can utilize your checking account without ATM balance inquiries, banks can still call the account “free” as long as it doesn’t charge for check processing.

  3. Apr 3, 2024 · The majority of banks charge overdraft fees. The average overdraft costs around $35 per transaction, per day—meaning you’ll get hit with a fee every day your balance stays negative.

    • Emily Sherman
    • Monthly maintenance fees. What is a monthly maintenance fee? To cover operating costs, banks typically charge for their services. It is typically called a monthly maintenance fee but can also be referred to as a monthly service charge and it’s automatically withdrawn from your account.
    • Overdraft fees. What is an overdraft fee? Mistakes happen — we know; we’re people too! Many of us have made a purchase only to get an email or text shortly afterwards that says, “You’ve overdrawn your account.”
    • Minimum balance fees. What is a minimum balance fee? Some banks have a minimum balance you may not dip below. For example, you could be required to have a minimum of $100 in your account at all times.
    • ATM fees. What is an ATM withdrawal fee? You put your card into the ATM and a message pops up on the screen. It reads, “As this ATM is not in your banking network, this transaction has a fee of $2.50.
  4. Some banks charge a fee if you call to check your balance or to see if a check or deposit has cleared.

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  5. May 27, 2022 · Many banks will reduce or eliminate the monthly maintenance fee if you maintain a minimum balance in your account. The minimum can be anywhere from $500 to $1,000 or more.

  6. Sep 11, 2023 · By regularly monitoring your account, understanding your bank account’s fee structure and preventing overdrafts, you can steer clear of many common fees. Opt for banks that have large ATM ...

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