Simply put, there are no fees. There is no monthly fee, no maintenance fee, no foreign transaction fee, and no “Non-Sufficient Funds” fee. In addition to no fees, the customer will likely get a very small interest paid on to the account. The only charges by the bank is for checks, or faster delivery for their ATM/Credit Card.
So what would happen if there aren’t enough funds in the bank to cover a charge? The transaction will simply be declined. Checks will be declined and returned to the depositer as NSF. The customer and person being given a check can decide what needs to be done.
FSP Bank will make money from investments and interest from liability accounts. This allows for those that are on a tight budget to have a bank account that will not break the bank.