Simply put, there are no fees. There is no monthly fee, no maintenance fee, no foreign transaction fee, and no “Insufficient 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.