7-10banking-basics

Maintenance fees

Explore why maintenance fees are charged just for the account existing.

In this lesson

Maintenance fees is part of Bank Fees Explained. This preview shows how banking-basics connects to everyday family decisions such as earning, saving, spending choices, goals, approvals, or parent-guided money conversations inside Progress Penguin.

Think about this money choice

Imagine this situation: Two banks: Zenith charges 200 in local currency/month maintenance. Kuda charges zero. You keep 5000 in local currency in savings and rarely visit a branch.

How it works

Maintenance fees are charged just for the account existing. They are deducted automatically, even if you make no transactions. Many digital banks (Kuda, Carbon) offer zero maintenance fees.

Try a real-life example

Real-life money moment: You save 20000 in local currency at 5% annual interest. Your bank charges 300 in local currency/month maintenance.

Activity preview

Try the challenge

Use what you learned to complete this short challenge.

Quiz preview

A monthly maintenance fee is:

A discount when planning ahead

Charged just to have the account

Always zero for the typical person

Per transaction under normal conditions

Two banks: Zenith charges 200 in local currency/month maintenance. Kuda charges zero. You keep 5000 in local currency in savings and rarely visit a branch. Which choice saves more?

Kuda — zero maintenance fee saves 2400 in local currency/year on a 5000 in local currency balance

Zenith — better ATM network

Zenith — more established

Both equal — fees don't matter on small balances