Low-cost accounts are account packages that cost a maximum of $4 per month.
The federal government signed an agreement with certain financial institutions under its jurisdiction. Under this agreement, eight banks have agreed to offer low-cost accounts to consumers. However, many other banks and financial institutions also offer account packages with low monthly fees. Contact your bank or financial institution to find out if it offers a low-cost account package.
Each bank has its own version of the low-cost account, but all packages of this type offer:
Service fees apply to all of the transactions you make that are over your monthly limit.
In-branch transactions are those made with the help of a teller, such as:
Self-serve debit transactions are transactions that you make without the help of a teller, such as: