Bethany Hickey for Finder.com

Are free bank accounts actually free?

Free stuff is great, but it often comes with a catch. So are free bank accounts actually free, and if they are, how does the bank make money?

What is a “free” bank account?

If you ever see a bank account review or see an advertisement for a “free” or “fee-free” bank account, that usually means the account doesn’t charge a monthly maintenance fee.

Monthly maintenance fees, sometimes called service fees, are used to maintain a bank’s infrastructure (like branches and ATMs ) and, of course, make it money.

Most banks are for-profit institutions, so many charge monthly fees in exchange for using their accounts. Makes sense, right?

This begs the question, though — if a bank doesn’t charge monthly maintenance fees, how a

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