What are savings account fees?

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.