Compare Bank Fees

Many of us will use banks as a way to hold money through our personal or business account. That is why we need to choose someone that is reliable and that will not charge us an insurmountable amount of money in fees. For many of us trying to find out this information is not easy – but only because we do not know the right questions that we should be asking.

In order to get the right information from each bank you have to know the right questions to ask and how they pertain to you. It will not help you to work with a bank that will give you a great interest rate if the fees they are charging you are too much to handle.

Questions To Ask

Is there a monthly fee? – There are some banks that will charge you a certain amount of money each month to have an account with them. Usually this fee is only for savings account and not the checking account.

Are you charged a fee if the balance in the account drops under a certain amount? – Banks want to make sure that you are using your money wisely and that there is no need to be running out of much needed money. Before you have a chance to overdraft they will alert you that the money in the account is low and some will charge you for it.

Is there a charge to use their ATM machine to make deposits or withdrawals? – It is rare for banks to charge their customers to use an ATM machine at their bank. However, most will charge $1 to $2 to use one that is run by another bank.

How much will the checks cost and will you be charged when you write each one? – It is not uncommon for people to have to pay a certain amount to have a large amount of checks delivered to their home. This is usually very affordable – but will cost extra is you want them to be personalized.

How much will you be charged if a check bounces? – It is serious to try to pay someone when you do not have the money for it and to waste a check. Some banks will charge a fee in order to keep people from making the mistake more then once.

Is there a limited withdrawal amount you can make in a day? – Most banks will limit the amount you are able to pull out at one time and in one day. This prevents thieves from being able to drain their accounts.