What may incur additional fees when maintaining a bank account?

Maintaining a bank account can come with various fees, and one of the most common reasons for additional charges is not meeting the minimum balance requirement. Many banks set a minimum balance that account holders must maintain to avoid fees. If the balance falls below this threshold at any time during the statement period, the bank often charges a monthly maintenance fee. This is a standard practice aimed at encouraging customers to keep a certain amount of money in the account, which can help the bank manage its operations more efficiently.

Having multiple accounts typically does not incur additional fees, as banks often allow customers to hold several accounts without added costs. Using online banking is usually free and may even provide the benefit of lower fees, as it reduces the costs associated with physical branches. Applying for loans can involve fees, but this is separate from maintaining a standard checking or savings account and does not directly affect account maintenance costs.