Charges from your financial institution on your personal and/or business accounts are Bank Fees. These can be frustrating as these fees seem to be everywhere. When you opened your account at your local bank or credit union, you received a fee schedule that outlines the myriad of fees and charges you might receive. Examples of Bank Fees are account maintenance charges, check ordering fees, ATM fees, non-sufficient fund (NSF) fees, overdraft fees, etc. Fees can be charged one time or on an ongoing basis. Fees are a large portion of a financial institution’s income. Like anything else in life, you get what you pay for in financial management.
However, more often than not, these fees can be avoided. Saving you money. Banks often have free checking and/or savings accounts as long as you meet their minimum balance or sign up for direct deposit. Sign up for alerts for low balances so you never overdraft your account (InvestorKeep will alert you). Use your institution’s ATM machines to ensure no ATM fees.
Talk with your financial professional/banker to ensure you are avoiding fees and have the appropriate accounts for your financial needs