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The Return of Checking Account Fees

  • The first step in picking the right checking account for you is to determine your needs. This usually depends on what stage you are in your life. If you’re a student, for example, you may be interested in perks like free checks, free debit card, free online access and bill pay, and ATM refunds. If you’re older, you may want a checking account that earns interest. No matter what stage you’re in, here is a basic checklist everyone should consider when choosing a checking account:Fraud_blog

    • Is there a monthly fee/service charge?
    • Is there a minimum balance required every month to avoid fees? If so, what is that minimum balance?
    • Does my account offer free checks and free check images?
    • Is a debit card available? Are there debit card fees?
    • Can you select your own PIN on your debit card?
    • Does my account offer any perks? Can I choose those perks to best fit me?
    • Does my account earn interest?
    • Does my account offer overdraft protection? If so, at what cost?
    • Can you set up overdraft sources from other funds on deposit?
    • Does my account offer maximum insurance on my deposits?
    • Is my financial institution rated high in stability and financial soundness?
    • Can I access my account via the telephone, internet and mobile banking?
    • Does it offer online bill payment?

  • A hot topic in the financial industry right now is the return of checking account fees. New government laws and regulations are causing financial institutions to lose income. To make up for this loss income, financial institutions are issuing new fees on their checking accounts and increasing current fees. Gone are the days of “free checking” as most big banks are returning to monthly fees. These fees can range from $3 to $30. 

  • Some financial institutions will waive these fees if you maintain certain requirements. However, this is not always easy. Most financial institutions require consumers to either maintain a high balance in their account, set up a minimum monthly direct deposit or link to another product. The best way to avoid fees is to choose a financial institution that offers a checking account with little to no fees and requirements.

  • At Avadian, you don’t have to worry about avoiding a monthly fee, because our Choice Checking doesn’t have one. We don’t even require a monthly minimum balance. All you need is $25 to open the account.

  • Avadian’s Choice Checking allows you to customize your account to fit your needs. Features you can choose include: free checks, ATM refunds, CD rate bonuses and loan discounts.

Avadian’s checking accounts also give you the ability to earn 5.00% APY by linking it to our Centsible Savings, which automatically saves you money every time you 


The credit union is federally insured by the NCUA. Additional insurance of up to $250,000 on your savings accounts is provided by Excess Share Insurance Corporation, a licensed insurance company.
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