To keep our funds safely we open a bank account. We can even hold multiple bank accounts. Moreover we also get interest on deposits made to these accounts. We frequently use our bank account to make payments and perform withdrawals as and when we need funds.
There are various kinds of charges which a bank levies on the services provided by it. For Instance, whenever you request for a demand draft, you need to pay some amount. Different banks may charge different amount for different kind of services provided by them.
As soon as we open an account and deposit money into it, we feel relaxed, also it is a common perception that even if we are not using the account, we are not under any obligation for anything. So we keep an account open irrespective of how frequently we use it for our purposes. Many people hold multiple accounts with different banks while they prefer to use only a single account for their transactions. Most of the times, we are of the opinion that we may need an account in the near future and hence keep avoiding its closure.
Even though we earn interest on whatever balance we have in our accounts, there is a possibility that due to inactivity in our account, bank may have imposed a certain fees. This fee generally arises on account of non performance of any kind of activity (deposit or withdrawal) in any bank account. This fee is however levied only when there has been no activity for a long period of time in an account. A bank will not levy any fee if no activity has been performed for only a month or two.