# Algorand and Bank transactions?

**URL:** <https://forum.algorand.co/t/algorand-and-bank-transactions/2211>\
**Category:** General\
**Tags:** docs, community\
**Created:** [November 17, 2020, 1:49pm UTC](https://forum.algorand.co/t/algorand-and-bank-transactions/2211 "2020-11-17T13:49:42Z")\
**Posts on this page:** 1\
**Showing post:** 4

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**Author:** ![Tyler](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.algorand.co/tyler/32/27_2.png) [@Tyler](https://forum.algorand.co/u/Tyler)\
**Post date:** [November 19, 2020, 3:52pm UTC](https://forum.algorand.co/t/algorand-and-bank-transactions/2211/4 "2020-11-19T15:52:17Z")

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Hi Keka,

USDC is an [Algorand Standard Asset (ASA)](https://developer.algorand.org/docs/features/asa/) so transaction fees are the same as if you are transacting an Algo meaning they have the same minimum fee of .001 Algo. For example, [here is a transaction just a little bit ago for](https://algoexplorer.io/tx/A4ZAHN3SGUXLUH4WPJUQUJMYWJG2RACQWOHQZZWGFXBEREMP33BA) $706,550.13 USDC which cost only .001 Algo.

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