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Home › Pay › Common problems › Bank account and overdraft fees
Fees and services

Bank account and overdraft fees

Bank fees are easy to miss because they come out of your account quietly. Overdraft charges, monthly maintenance fees and out-of-network ATM fees can cost more than people expect over a year. The good news is that many of these fees can be avoided with a few settings changes or by choosing a simpler account.

Common problems to watch for

  • Overdraft coverage turned on during account opening without a clear explanation
  • A 'free' account that charges a monthly fee if your balance drops below a minimum
  • Charging a separate fee for each overdraft on the same day
  • Paper statement fees added after a promotion ends
  • Fees from both your bank and the ATM owner when you use another bank's machine

Had one of these happen? Telling others what you were charged helps them avoid it.

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Free and low-cost alternatives

Bank On certified accountsBank On, a national program, certifies low-cost accounts with no overdraft fees. You can search for a certified account near you at joinbankon.org.
Opt out of debit overdraft coverageBanks cannot charge overdraft fees on ATM and one-time debit card purchases unless you opt in. Ask your bank to turn that coverage off.
Low-balance alerts in your bank's appMost banks' own apps can send a text or notification when your balance falls below an amount you choose, for free.
Your bank's own ATM networkUse the ATM locator in your bank's official app to find machines where withdrawals carry no fee.

Availability depends on your device and model. AblePro has no relationship with any company named here.

How companies charge more here: Fees that cost them nothing · Shrinking rewards · Exit fees

What fair pricing looks like

A basic checking account should have a clear, low or zero monthly fee, or an easy way to waive it. Paying repeated overdraft fees on small purchases rarely makes sense when free alternatives exist.

Before you pay

  • Read the account's fee schedule, not just the advertising page
  • Ask exactly what balance or deposit avoids the monthly fee
  • Check whether overdraft coverage is on for debit card purchases
  • Find out how many free ATMs are near your home and work
  • Ask if a lower-cost or 'second chance' account is available

How to cancel

  1. To stop debit card overdraft fees, ask your bank to revoke your overdraft opt-in, by app, online or in a branch.
  2. Before closing an account, move automatic payments and direct deposits to your new account first.
  3. Leave enough money to cover any pending checks or charges, then ask the bank to close the account in writing.
  4. Get written confirmation that the account is closed with a zero balance, so no later fees appear.

Step-by-step cancel guide for iPhone, Android and PayPal →

Common questions

Can my bank charge an overdraft fee on a debit card purchase?

Under federal rules, banks cannot charge overdraft fees on ATM withdrawals and one-time debit card purchases unless you opted in to overdraft coverage. If you never agreed, or want to stop, contact your bank and ask that this coverage be turned off. The purchase may then be declined instead of costing you a fee.

Should I ask the bank to refund a fee?

Yes, it is worth asking. Many banks will waive an occasional overdraft or monthly fee, especially for long-time customers or a first mistake. Ask politely by phone, chat or in a branch, explain what happened, and ask what you can change to avoid it next time.

What if a bank fee seems wrong?

Start by contacting your bank and asking for a written explanation of the charge. If you cannot resolve it, you can submit a complaint to the Consumer Financial Protection Bureau at consumerfinance.gov. Keep copies of your statements and any messages with the bank.

General consumer information, not legal or financial advice. Reports reflect the experiences and opinions of their writers, not AblePro, Inc. We check reports against our posting rules but do not verify them.