Final answer:
The Chase Premier Plus Checking account comes with a monthly service fee of $25, which can be avoided by maintaining a certain balance or through other banking relationships with Chase. Keeping track of your checkbook is essential to prevent overdrafts and the fees associated with them.
Step-by-step explanation:
The monthly service fee for Chase Premier Plus Checking is typically $25. However, there are ways to avoid this fee. One can avoid the fee by maintaining an average daily balance of $15,000 or more in this account and linked qualifying deposits/investments, having a linked qualifying Chase first mortgage enrolled in automatic payments from your Chase account, or having a linked Chase Sapphire Checking account.
Balancing your checkbook regularly is crucial to managing your money effectively and avoiding potential fees. Knowing the status of your account can prevent you from over-spending and thus avoid overdraft fees. Stores that accept checks for payment process them through their banking system, where the funds are transferred from the customer's account to the store's account.
An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. In this situation, the bank may allow the transaction and charge an overdraft fee or decline the transaction.