Some common examples of fees that can be seen on a bank statement include:
- Minimum account balance fees: charged if the account balance falls below a required minimum.
- Withdrawal and transfer fees: fees for exceeding a set number of transactions or for wire transfers.
- ATM fees: charged for using ATMs outside the bank's network or excessive withdrawals.
- Non-sufficient funds (NSF) fees: applied when there isn't enough money to cover a transaction.
- Overdraft fees: charged when the account balance goes below zero.
- Late payment fees: assessed for missing credit card or loan payment due dates.
- Account maintenance fees: monthly charges for maintaining the account.
- Paper statement fees: charged by some banks for receiving paper statements.
- Dishonour fees: fees for returned cheques or direct debits due to insufficient funds.
- Early withdrawal fees: fees for withdrawing money early from term deposits.
These fees may be charged on a one-time or ongoing basis and appear as line items on bank statements, either at the time of transactions or at the end of a billing cycle depending on the fee type.
