When choosing a transaction or savings account it is important to understand the terms and conditions.
For example, an account may have fee-free ATM withdrawals only if you are making a big deposit each month – like a salary.
Also make sure the bank or credit union understands what kind of account you are after.
An account for quarantining money should not charge high fees when it is not going to be used very much.
Banking institutions can be very helpful when approached about bank accounts and fees.
Source: The Age