What can be a cost of opening a basic checking account? high interest rates

penalties for early withdrawal

check writing limits

high fees

High Fees

Explanation:

Checking accounts are very useful to the common person because of the liquidity they offer. With a Checking account, you are able to make withdrawals whenever you want by way of checks or ATM cards as many times as you want. Electronic transfers are available and depositing is quite simple.

In exchange for this high Liquidity though, the account receives low interest and can be subject to quite a number of fees.

Depending on the bank there are different fees attached with some of the most common being, Card processing fees, electronic and mobile banking fees, Overdraft fees, Maintenance fees and sometimes even a fee for letting the account drop below a minimum value.

c eye contact beucause idk im pretty sure like 80% sure but ill find out in a short time