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Bank fees can really add up over time and take a bite out of your budget. That’s why it’s important to review your account statements closely for hidden fees. With some checking accounts, you have to jump through hoops to avoid paying fees. Watch out for these common hidden fees with checking accounts:
Some checking accounts have account maintenance fees that can only be waived if you meet certain requirements, such as using your debit card a specified number of times each month, meeting direct deposit requirements or having a loan, credit card or investment account linked with your checking account.
Financial institutions often charge a fee for accessing cash at ATMs that are not part of the bank’s ATM network.
Some checking accounts require that you maintain a minimum balance to avoid a monthly fee.
A financial institution may charge monthly inactivity fees if you don’t have any deposits or transactions.
Some financial institutions charge fees for various services or transactions. Be sure to ask for a printout of the fee schedule so you know which fees may apply to your situation.
At DCU, we have fewer and lower fees compared to banks. While banks are focused on earning profits for their shareholders, our focus is on returning profits to you in the form of lower loan rates, higher deposit rates, and lower fees.
DCU Free Checking provides the convenience and benefits of free checking without all the fees, restrictions, and hurdles you’ll find at many other banks. Every DCU account includes:
Click here to learn more about the benefits of DCU Free Checking.
This article is for informational purposes only. It is not intended to serve as legal, financial, investment or tax advice or indicate that a specific DCU product or service is right for you. For specific advice about your unique circumstances, you may wish to consult a financial professional.