What does statement cycle fee means?

Question

Hi. What does statement cycle fee means? Thanks

Answer 1

It means your bank charges you a service charge and it is taken from your account when you statement cuts.  You can talk to your bank and get a free checking account, you don't get the same perks, but if you don't use the perks it may be better for you to get a free account.  Most bigger banks charge crazy fees.  If you try a smaller bank or credit union you will not see crazy charges.