If a bank has multiple types of checking or savings accounts, different ones will probably come with different fees. Often, a more robust account charges a higher fee. A basic checking account may charge $5 per month, while a rewards checking account may charge $12 per month, for instance.
How to avoid a monthly maintenance fee
Most banks make it possible to waive monthly maintenance fees.
In many cases, you ll need to maintain a certain balance. You could waive the fee if you keep a minimum daily balance or an average daily balance over the course of the month.
Some checking accounts
For Ebony Ruffin, founder of Ruffin Consulting Services, a business consulting firm providing life insurance solutions to families and businesses, an unlikely gift from her mother put her on the path to build generational wealth, and it even started her path in the life insurance industry.
She received whole life insurance as a graduation gift
Shortly before Ruffin started college, Ruffin s mother gifted her with a whole life insurance policy. My initial reaction was, I m going to college, not passing away, Ruffin said, adding that at the time she didn t fully understand the gift that her mother gave her. Related