7-10intermediatebanking-basics
Bank Fees Explained
Explore why bank fees cover operating costs and contribute to profit.
5
Lessons in this module
30 min module estimate
1Preview
Why banks charge fees
Explore why bank fees cover operating costs and contribute to profit.
6 minPreview lesson →
2Preview
Maintenance fees
Explore why maintenance fees are charged just for the account existing.
6 minPreview lesson →
3Preview
Transfer fees in Nigeria
Explore why nIBSS (Nigeria Interbank Settlement System) processes interbank transfers.
8 minPreview lesson →
4Preview
ATM withdrawal fees
Explore why cross-bank ATM fees (typically 65 naira per withdrawal in Nigeria) add up.
8 minPreview lesson →
5Preview
Reducing bank fees
Explore why three cost-cutting moves: (1) own-bank ATMs to avoid cross-bank fees, (2) batch multiple transfers into one to reduce per-transfer fees, (3) choose zero-maintenance accounts like Kuda or Carbon.
8 minPreview lesson →
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