Question 1

How can I avoid bank fees?

Accepted Answer

Maintain minimum balances, use in-network ATMs, enable direct deposit, avoid overdrafts, monitor your account regularly, choose fee-free banks, and read your account terms to understand all requirements.

Question 2

What is mortgage insurance?

Accepted Answer

Mortgage insurance protects the lender if you default on your loan. It's typically required when your down payment is less than 20% of the home's value. Private Mortgage Insurance (PMI) is for conventional loans, while FHA loans have Mortgage Insurance Premiums (MIP). The cost is added to your monthly payment and can be removed once you reach 20% equity.

Question 3

Can I use my debit card as a credit card?

Accepted Answer

Yes, most debit cards can be run as 'credit' at checkout by selecting 'credit' instead of 'debit' and signing instead of entering your PIN. The money still comes from your checking account, but it processes through credit card networks (Visa/Mastercard). This doesn't build credit or change how funds are withdrawn.

Question 4

Are online bank statements secure?

Accepted Answer

Yes, online statements use encryption and secure servers. They're often more secure than paper statements which can be stolen from mailboxes. Always use secure internet connections and strong passwords to access them.

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Frequently Asked Questions

How can I avoid bank fees?

What is mortgage insurance?

Can I use my debit card as a credit card?

Are online bank statements secure?

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