Bank Fees Explained

An account charges "$12 a month, waived with a $500 direct deposit". Your employer already pays you by direct deposit into it. What is the monthly fee costing you?

• $12 a month, because the fee is on the schedule
• Nothing, because you already meet the waiver condition
• $6 a month, because waivers halve the fee

Which overdraft fee does the opt-in rule let you avoid simply by not opting in?

• A fee on a check that bounces into a negative balance
• A fee on a one-time debit card purchase that the bank covers anyway
• A fee on a monthly autopay