Bank Fee Checklist

 | 2008 12 23

Banks offer a wide range of services but frequently there are hidden costs to using those services. Those bank fees can add up quickly.

Use these questions to make sure you know what possible fees you might have to pay. If the fees are too high, ask the bank if there is a less expensive way you can continue to do business with them. You can always shop around for more competitive fees

• Will you pay a monthly fee? Is it variable or fixed?
• Will you pay a fee if the balance in your account drops below a specified amount?
• Are fees reduced or waived if you use direct deposit for your paycheck or government benefit checks?

Is there a fee for: 

• writing checks (or writing more than a certain number of checks)?
• making deposits or withdrawals?
• using ATMs, particularly if the ATM is owned by another institution?
• doing too many transactions?
• transferring money from your savings to your checking account?
• ordering new checks?
• stopping payment on a check you have written?
• asking about your account balance?
• online or phone banking?
• calling customer service?
• closing an account soon after it is opened?
• bouncing a check?
• overdraft protection?
• depositing a check from someone else that bounces?