What is a 'policy administration service' on my bank statement?

Question

What is a 'policy administration service' on my bank statement?

Answer 1

It's a fee. A savings or checking account isn't a policy, so it shouldn't have a policy administration service. But if you have insurance or a CD or something through the bank, it might be for that. Call and ask, and then check the agreement for that account to see if the charge is really valid.