What account fees should you avoid with savings accounts?
Minimum balance fees, maintenance fees, or transaction fees.
What account fees should you avoid with savings accounts?
Share
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
What account fees should you avoid with savings accounts?
Minimum balance fees, maintenance fees, or transaction fees.
To avoid account fees with savings accounts, focus on avoiding minimum balance fees and maintenance fees.
Minimum balance fees are charged if your account balance falls below a specified amount. If you find an account with no minimum balance requirement, it can help you avoid this fee.
Maintenance fees are monthly charges imposed by the bank simply for having the account. Look for accounts that offer fee waivers based on certain conditions, or consider accounts that don’t charge maintenance fees at all.
Avoiding transaction fees is less critical since many savings accounts have limited transaction allowances. Instead, choosing an account with no or low transaction fees can provide more flexibility.
In summary, prioritize finding savings accounts without minimum balance and maintenance fees to maximize your savings.