What kind of fees might be associated with bank accounts?

Bank accounts can incur various types of fees that consumers should be aware of to effectively manage their finances. Maintenance fees, ATM fees, and overdraft fees are common examples.

Maintenance fees are charges that banks may impose for maintaining a bank account, which can be avoided in some cases by meeting certain conditions, such as maintaining a minimum balance. Additionally, ATM fees occur when customers use an ATM that is not affiliated with their bank, resulting in charges from both their bank and the ATM operator. Overdraft fees are assessed when account holders spend more than their available balance, leading to negative balances that incur penalties.

The other options do not encompass the full range of fees typically associated with bank accounts. While some bank services may have cancellation fees, it is not standard across all accounts. Monthly pay fees are not a recognized type of fee in banking terminology. Hence, the selection of maintenance fees, ATM fees, and overdraft fees provides a comprehensive understanding of the charges one may encounter with bank accounts.