Is Univest A Bank With No Fees?

Understanding Bank Accounts With No Fees - Bank Fees Comparison

Many banks offer bank accounts with no fees. UnivestDirect offers a free online checking account, but what exactly does "no fees" mean? A bank with no fees or a bank account with no fees usually means that the bank does not charge a monthly service fee just for having the account. It also may mean that the checking account or savings account does not require a minimum monthly balance in order to avoid a fee. Before you open a checking or a savings account, it is usually a good idea to do a bank fees comparison between your current bank and another bank you are considering. You should also compare the bank account fees unique to the specific accounts that you are considering.

Why Do Banks Use Service Charges and Fees ?

All banks use service charges or bank account fees with their checking accounts or savings accounts. Banks may charge fees when they perform a service on a checking account or savings account for a customer. For example, banks may charge a service fee for wiring funds to another bank account you own. Charging customers fees for services such as wire transfers, official checks, etc. help banks meet their operating costs and provide income for banks. Overdraft fees and insufficient funds charges on checking and savings accounts are intended by banks to hopefully discourage the practice of customers overdrawing their accounts. Learn how to avoid overdraft fees with Univest.

Does UnivestDirect Offer Bank Accounts With No Fees?

UnivestDirect offers a free online checking account and a free online savings account. Both are bank accounts with no monthly maintenance fees and no minimum balance requirements. These bank accounts also offer a number of methods to avoid fees such as account overdraft protection via your savings account and e-mailed balance alerts.

Why Not Learn More About Opening Bank Accounts Online With UnivestDirect?