Bank Fees
The fee that is charged when you use an ATM
ATM fee
The most basic type of bank account where people store their money for quick acess
Checking Account
The fee that banks charge you when you use an ATM
ATM fee
What plays a big factor in the amount of money you have to save
Education level
The percentage of people who have more than 1 savings account
55%
What the bank charges you when you miss a payment on a debt or other financial obligation
Late Fee
A different name for a checking account
A Cash management account
When make a check using money that you don't have, you are charged what?
Overdraft Fee
What age group has the highest bank account balance?
65-74
This usually signifies a higher savings account balance
A higher age
When you write a check but don't have enough money in your bank account to pay for it, you are charged what
Non-sufficient Funds (NSF) Fees
An account used for saving money. You can only make 6 withdrawals per month
Savings Account
Who do banks lend your money to?
Other customers that need a loan or mortgage
This percentage of Americans have a savings account
71%
How can you boost your savings?
Look for a high interest rate and low fees
The fee charged when you transfer funds from one bank account to another
Wire Transfer Fee
A savings account that gives you 5% interest rather than the 0.06% interest of a traditional savings account
High-yield savings account
How can you prevent being charged fees by your bank?
Checking your account often and never over spending
This percentage of Americans have $1,000 to $5,000 in savings
22%
This is the mean savings account balance in the United States
$26,619
How can you prevent being charged bank fees
Keeping a close eye on your bank account by using tools such as online banking, and by making sure that you never over spend.
An account used to invest money into things like stocks
Brokerage Account
The fee that is charged when you transfer money from one account to another
Wire Transfer Fee
How many expenses should you aim to have?
3-6 Expenses
This is the median savings account balance in the United States
$3,500