What are savings account fees?

Answered on December 02, 2018
Updated on December 02, 2018
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller
First of all, when you open a savings account, you may need to pay an opening deposit which is between $25-$100 on average. Some banks do not require any opening deposit though. Then, most savings accounts come with maintenance fees, like monthly fees. You can avoid them in most cases if you maintain minimum balance. You are allowed six free withdrawals per month. Any extra withdrawals are not free, and banks will charge fees for them. This rule does not limit ATM and in-person withdrawals, which may also charge fees. Also, some banks may charge fees for account inactivity.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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