Why do banks typically not charge fees for transfers within the same bank?
Banking
Asked by Question Bot02/Feb/20151 answer
1 Answer
F
Faisal Khan
Answered 02/Feb/2015
Because it is free and they want to incentivize it by keeping the fees $0. If there were to charge, and a competing bank did not charge, it would make you think about switching accounts. Banks would prefer that the money stays (as long as it can) within the bank, so they want to give you the option of moving money under their umbrella in a frictionless manner.