Common banking fees include monthly maintenance charges, ATM surcharges, overdraft and non-sufficient funds fees, wire transfer costs, stop payment orders, foreign transaction markups, and a handful of smaller service charges. Most are avoidable. Some have been eliminated outright at large banks in the last few years, others can be waived by meeting a direct deposit or balance requirement, and the rest usually have a free workaround if you know to look for it.
Monthly Maintenance Fees
The most predictable charge on a checking or savings account is the monthly maintenance fee, sometimes called a service fee. It runs about $5 to $35 per month depending on the account and the institution, which adds up to $60 to $420 a year if you never waive it.1Consumer Financial Protection Bureau. Why Am I Being Charged a Monthly Maintenance Fee for My Bank or Credit Union Account?
Most banks offer two clear ways out. Set up a qualifying direct deposit, typically a recurring electronic payroll or government deposit that meets a monthly minimum, or keep a minimum daily or average balance in the account.1Consumer Financial Protection Bureau. Why Am I Being Charged a Monthly Maintenance Fee for My Bank or Credit Union Account? Some banks also waive the fee if you keep a combined balance across multiple accounts at the same institution. Online-only banks and credit unions frequently skip maintenance fees entirely.
ATM Fees
Using an ATM outside your bank’s network triggers two separate charges. The ATM owner adds a surcharge for using the machine, and your own bank adds an out-of-network fee on top of that. Industry survey data puts the average surcharge at $3.22 and the average out-of-network fee at $1.64, for a total of about $4.86 per withdrawal. Both numbers have been climbing.
Check your bank’s mobile app before you need cash to find an in-network machine or a fee-free partner ATM. Many banks reimburse a set number of out-of-network fees each month, and most online-only banks offer broader reimbursement because they don’t operate branches.
Overdraft Fees
When your account doesn’t have enough money to cover a transaction and the bank pays it anyway, the bank charges an overdraft fee. Historically that fee was a flat $35 at most large banks. The landscape looks very different now. Capital One, Citibank, and Ally have eliminated overdraft fees. Bank of America cut its fee to $10. Chase and TD Bank waive the fee if you’re overdrawn by $50 or less by end of business day, and others offer a next-day grace period to bring the account positive before any charge applies.
Plenty of institutions still charge $35 or more per overdraft. Smaller community banks and some credit unions haven’t followed the trend, so what you actually face depends on where you bank.
The Opt-In Rule for Debit and ATM Transactions
Federal regulation requires your bank to get your explicit consent before charging overdraft fees on one-time debit card purchases and ATM withdrawals. Under Regulation E, the bank must provide a written notice describing its overdraft service, give you a reasonable opportunity to opt in, obtain your affirmative consent, and provide written confirmation of that consent.2eCFR. 12 CFR 1005.17 – Requirements for Overdraft Services If you never opted in, your bank has to decline any debit card or ATM transaction that would overdraw your account rather than paying it and charging a fee.
This protection does not reach checks or recurring automatic payments. Your bank can still pay or reject those transactions and charge a fee without your prior consent. If you opted in at some point and want to reverse the decision, you can revoke your consent at any time and the bank must honor it.2eCFR. 12 CFR 1005.17 – Requirements for Overdraft Services
Transaction Reordering
Some banks process the day’s largest transactions first instead of in the order they occurred. A large purchase clears before several smaller ones, drains the account balance, and each subsequent small transaction triggers its own fee. A single day can produce three or four fees that would have been one fee if transactions had posted chronologically. Regulatory scrutiny has pushed some banks away from this practice, but it has not been banned outright.
The Failed Federal Cap
In December 2024, the CFPB finalized a rule that would have capped overdraft fees at $5 for large banks, effective October 2025. Congress overturned the rule using the Congressional Review Act, and the President signed the repeal. Because of how the Congressional Review Act works, the CFPB cannot issue a substantially similar rule without new legislation specifically authorizing it.3Congress.gov. Congress Repeals CFPB’s Overdraft Rule Any further reduction in overdraft fees will come from banks acting on their own or from state-level action, not federal regulation.
NSF Fees
A non-sufficient funds fee is the mirror image of an overdraft fee. Instead of paying the transaction and charging you for covering it, the bank rejects the transaction and charges you for declining it. You end up with a fee and the payment still doesn’t go through.
NSF fees are disappearing at large banks. Nearly two-thirds of banks with over $10 billion in assets have eliminated them, and every bank with over $75 billion in assets has dropped them entirely. The CFPB estimates this shift saves consumers almost $2 billion a year.4Consumer Financial Protection Bureau. Vast Majority of NSF Fees Have Been Eliminated, Saving Consumers Nearly $2 Billion Annually Credit unions have been slower to follow: among those with over $10 billion in assets, most still charge NSF fees. If yours does, a competitor has probably dropped it.
Overdraft Protection Transfers
Overdraft protection links a backup account, usually savings, to your checking. When a transaction would overdraw checking, the bank pulls money from the linked account to cover it. This used to cost $5 to $12 per transfer at most banks. The vast majority of large banks now process these transfers for free, including Chase, Wells Fargo, Bank of America, PNC, and U.S. Bank. If your bank still charges for overdraft protection transfers, that fee alone can justify switching.
When the linked backup is a line of credit instead of a savings account, you’ll pay interest on the borrowed amount, and some banks add a small daily or per-transfer fee. Read the terms before opting in.
Wire Transfer Fees
Wire transfers remain one of the more expensive routine services because they guarantee same-day delivery of funds. Domestic outgoing wires generally cost $25 to $40, and international outgoing wires run higher because of the additional networks involved. Incoming wires carry a fee at many banks too, typically lower than outgoing, for both domestic and international transfers.
For domestic transfers that don’t need the speed or the guarantee of a wire, peer-to-peer services like Zelle are typically free and deliver funds within minutes. Most major banks have Zelle built into their mobile apps. Zelle has daily and monthly sending limits, so it won’t replace a wire for a real estate closing, but for everyday transfers between people it eliminates the fee.
Foreign Transaction Fees
When you use a debit card for a purchase outside the United States, your bank typically charges a foreign transaction fee of 1% to 3% of the purchase amount. The fee applies even when the receipt shows a price in U.S. dollars, because the transaction still routes through a foreign payment network. On a $500 hotel bill abroad, that’s an extra $5 to $15.
Some banks and most travel-focused credit cards waive foreign transaction fees entirely. If you travel internationally, confirming whether your debit card carries this surcharge before your trip is worth a two-minute call.
Stop Payment Orders
A stop payment order tells your bank to block a specific check or automatic payment from clearing. Banks typically charge $20 to $35, and the fee applies whether or not the bank successfully stops the payment. Under the Uniform Commercial Code, a written stop payment order is effective for six months and can be renewed. An oral order lapses after 14 calendar days unless you confirm it in writing within that window. Some banks set longer periods, so check your account agreement.
Other Service Fees
Cashier’s and Certified Checks
A cashier’s check is drawn on the bank’s own funds and used for real estate closings or other large purchases that require guaranteed money. Certified checks verify that your account has enough to cover the amount. Either runs $5 to $15 at most banks, though some premium checking accounts and credit unions waive the charge.
Paper Statement Fees
Banks increasingly charge $2 to $5 per month for mailing paper statements. If you don’t need a physical copy, switching to electronic delivery removes the fee immediately.
Returned Deposited Item Fees
When you deposit a check from someone else and that check bounces, your bank may charge you a returned deposited item fee of about $10 to $19.5Federal Register. Bulletin 2022-06 Unfair Returned Deposited Item Fee Assessment Practices You’re paying for someone else’s bad check. The CFPB has flagged certain blanket practices around these fees as potentially unfair, so you may have grounds to dispute if your bank charges you repeatedly for the same item.
Legal Processing Fees
If a creditor or government agency serves a garnishment or tax levy against your account, your bank charges a legal processing fee for handling the order, commonly $75 to $125. The bank takes its fee before applying any remaining funds to the garnishment, so the charge effectively comes out of what the creditor is trying to collect.
Early Account Closure Fees
Closing a bank account within the first 90 to 180 days can trigger an early closure fee of $5 to $50. Not every institution charges it, but if you’re considering switching banks shortly after opening a new account, check first.
Dormant Account Fees
If you stop using an account for 12 to 24 months with no deposits, withdrawals, or other activity, the bank may classify it as dormant and start charging a monthly inactivity fee that chips away at the balance.6Federal Deposit Insurance Corporation. A Comprehensive Guide to Common Banking Fees
If the account stays dormant long enough, state law requires the bank to turn the remaining funds over to the state through a process called escheatment. Every state has unclaimed property laws, and the dormancy period before escheatment varies. You can reclaim escheated funds from your state’s unclaimed property office, but the process takes time. A single transaction or customer contact is usually enough to reset the dormancy clock.
Disputing a Fee or Error on Your Account
Federal law gives you specific rights when an electronic transaction on your account is wrong. Under Regulation E, you have 60 days from the date your bank sends the statement showing the error to notify your bank.7Consumer Financial Protection Bureau. 1005.11 Procedures for Resolving Errors Miss that window and the bank has no obligation to investigate.
Once you report the error, the bank has 10 business days to investigate. If it needs longer, it can extend to 45 days, but only if it provisionally credits your account within the initial 10 business days so you aren’t short while the investigation continues. After completing the investigation, the bank must report the results to you within three business days.7Consumer Financial Protection Bureau. 1005.11 Procedures for Resolving Errors
These rights cover electronic fund transfers, which include debit card transactions, ATM withdrawals, direct deposits, and automatic bill payments. They don’t cover disputes over paper checks or credit card charges, which fall under different rules. If your bank fails to follow the procedure, you can file a complaint with the CFPB.
Practical Ways to Cut Fees
The single most effective move is picking the right bank in the first place. Online-only banks and credit unions charge fewer and lower fees than traditional large banks. If you’re paying a monthly maintenance fee, ATM surcharges, and overdraft fees at a big bank, switching institutions can eliminate all three at once.
If switching isn’t practical, set up a qualifying direct deposit to waive the maintenance fee and keep your balance above the stated minimum. For overdraft protection, check whether your bank now offers free transfers from linked savings, because most large banks have dropped that fee.
Low-balance alerts are underused. Setting a text or email alert when your balance drops below a comfortable threshold gives you time to move money or skip a discretionary purchase before an overdraft fee hits. Revoking your opt-in for debit card overdraft coverage adds another layer: the card gets declined at the register rather than going through and generating a fee.
When a fee does land on your account, call and ask for a reversal. Banks reverse fees more often than most people realize, especially for first-time occurrences or long-standing customers. Be straightforward about what happened and ask directly. Most banks will reverse at least one or two fees a year to keep your business.