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The fees you can avoid depend on your checking account’s current terms, how you use it, and whether you qualify for waivers. Start by checking your fee schedule and recent statements; then focus on monthly maintenance, overdraft or returned-payment charges, and ATM fees. Treat the account’s disclosures—not a universal “most common” list—as the source for what you may actually pay.
Start with your fee schedule and statements
Find your account’s current fee schedule or deposit-account disclosure in online banking, your account-opening documents, or by asking your bank or credit union. Compare it with recent statements to identify fees that have actually posted. For each one, note the amount, the event that triggered it, and any waiver conditions. CFPB disclosure rules address fees including maintenance, ATM use, stop payments, balance inquiries, and returned checks; the exact charges and terms vary by institution. See the CFPB’s deposit-account disclosure regulation.
- Check whether a fee is recurring or tied to a particular transaction.
- Look for waiver triggers, such as eligible direct deposits or a qualifying balance, and confirm how the account defines them.
- Review ATM network access, overdraft and NSF policies, transfer costs, and limits on account features.
- Check charges for services you use, such as wires, stop payments, check printing, and returned deposits.
There is no single fee ranking that applies to every customer. The CFPB’s 2014 analysis of study banks, net of identifiable waivers and refunds, found average monthly fees per account of $5.21 for overdraft and NSF, $1.66 for ATM and account usage, and $1.28 for maintenance. These are historical averages, not current quotes or a prediction of what a particular account holder will pay. Read the CFPB’s 2014 checking-account analysis.
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A monthly maintenance or service fee may apply unless you meet the account’s stated waiver conditions. Depending on the account, a qualifying minimum balance or eligible direct deposit may waive it. The calculation and eligibility rules are account-specific, so confirm the exact requirement in the current fee schedule rather than relying on a general assumption. The CFPB says banks and credit unions “must tell you up front what the fees are and how you can avoid paying them.” See CFPB guidance on monthly maintenance fees.
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If the waiver condition does not fit your cash flow, compare accounts with different terms, including basic, student, or senior accounts where available. Before switching, check the replacement account’s fees and features, and review any payment arrangements or services that depend on the old account.
How can I reduce overdraft, NSF, and returned-payment fees?
An overdraft fee may be charged when the institution pays a transaction even though the account lacks enough money. An NSF or returned-item fee may apply when a transaction is sent back unpaid. A merchant may also impose its own returned-payment charge. Which fees apply depends on the transaction and the account terms.
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Decide whether to keep debit-card and ATM overdraft coverage
For one-time debit-card purchases and ATM withdrawals, a bank generally cannot charge an overdraft fee unless you opted in to that coverage. You can ask your institution to remove it, and CFPB guidance says you can change your decision later. Without coverage, a transaction may be declined; that does not automatically prevent charges for checks or recurring electronic payments, and a merchant may charge for a declined payment. Read the CFPB’s overdraft-fee guidance.
Track the balance and upcoming payments
The CFPB advises consumers to “Track your balance carefully.” Use available low-balance alerts, account for scheduled bills and other pending payments, and check when deposited funds become available before relying on them. A paper checkbook register or transaction ledger can help if you prefer to record activity manually. See CFPB tips for avoiding overdrafts.
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Compare linked-account and credit options by their full cost
Linking a savings account may allow a transfer to cover a shortfall, but the transfer itself may have a fee. A linked credit line may also carry a fee and interest. Compare the institution’s actual terms before choosing either option; neither is automatically cheaper than an overdraft charge.
How do I avoid ATM fees?
Use an ATM in your bank or credit union’s network, and check its app or website to locate participating machines. A withdrawal outside the network may generate one fee from the ATM owner and another from your own institution. If you use an out-of-network machine, review the on-screen fee before proceeding. Some accounts rebate ATM fees, but the network and rebate rules vary. See CFPB guidance on avoiding ATM fees.
Can a “free” checking account still charge fees?
Yes. CFPB guidance explains that a “free” or “no cost” account cannot impose certain charges, including monthly service, transaction-limit, deposit, withdrawal, transfer, or minimum-balance fees. But it may still charge for ATM use, overdrafts, bounced checks, stop payments, dormant accounts, or check printing. Check the account’s disclosure to see which charges apply and under what conditions. Read the CFPB’s guidance on fees for “free” accounts.
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Not every institution charges every fee, and not all charges can be waived. Review the current disclosure for services and account circumstances relevant to you, including:
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- Stop-payment requests and returned checks or deposits
- Balance inquiries, account opening or closing, and check printing
- Dormant-account charges
- Wire transfers, especially if you send them regularly
Wire-transfer charges are worth checking if you use that service. The deposit-account disclosure regulation treats some services offered to account holders and nonaccount holders alike, such as wire transfers, differently from covered account fees for that disclosure provision. Consult the CFPB’s disclosure regulation.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to compare accounts before switching
Compare the terms that affect your likely costs and day-to-day needs. A low-risk account may decline transactions that exceed the available balance, but it may also have fewer features or a monthly fee. Consider the trade-offs rather than assuming a particular account type is automatically best.
| What to compare | What to verify |
|---|---|
| Monthly fee | Fee amount and exact waiver conditions, including how balances and eligible deposits are defined |
| ATM access | Network availability, out-of-network charges, and any rebate limits |
| Overdraft and NSF policy | Opt-in status, fees for paid or returned items, and any per-day limits stated in the account terms |
| Linked-account coverage | Transfer fees for savings links or fees and interest for a credit line |
| Features | Access to checks, bill pay, and other services you rely on |
| Special services | Charges likely to matter to you, such as wire, stop-payment, or returned-deposit fees |
Account fees can change. Use the current disclosure to confirm the fee, its trigger, and any waiver conditions; institutions may change fees with written notice. The CFPB’s maintenance-fee guidance explains what institutions must tell customers about fees and how to avoid them.
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