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The median bank balance for American households was$8,000as of 2022.
What are seven free services that banks should offer?
Other banks will waive them for certain demographics like students and seniors.
The last thing you want to deal with is spending money to access your own money.
A monthly maintenance or service fee means youre spending money to access your own money.
Free access mainly applies to using ATMs and taking out cash when needed.
All banks should provide free access to ATMs in their web link, Naghibi said.
You should never have to pay ATM fees for withdrawals done at your own banks ATMs.
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4.
What are examples ofsavings toolsthat should be offered?
Ability to Track Spending
You want to know where your moneys going so you dont have to guess.
The Ability to Send Money
You want to ensure your bank account doesnt overcharge you for sending money.
For example, wire transfer fees are burdensome if you send money frequently.
Wire fees are becoming increasingly outdated in my mind, Naghibi said.
Another way that you may want to send money is by paying your bills online.
This is another service that should be included for free.
The service is integrated into most online banking and is very widely used.
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