Bank account fees: A complete list of 14 fees + how to avoid them

Opening a bank account comes with a lot of positives (like earning interest and keeping money safe). But even free or no-minimum accounts are subject to potential fees. Banks make some of their money by charging those fees; if you don’t know what they are, they can sneak up on you.

Here’s a complete list of bank account fees and steps you can take to avoid them.

1. Monthly maintenance fee

Some banks charge $5-$15 a month just to keep your account open if you don’t meet specific criteria, like maintaining a minimum balance or using direct deposit. 

Tip: Many banks waive this fee for teen and student accounts, so check with your bank before opening an account to confirm if this fee will apply.

2. Overdraft fee

Have you ever spent more than you had in your account? If so, you may have faced an overdraft fee, which can run $30 or higher. Nobody wants to pay extra for money you didn’t have in the first place! 

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Tip: One way to avoid overdraft fees is to set up alerts or pick an account that blocks purchases when your balance is too low.

3. Non-sufficient funds (NSF) fee

An NSF fee kicks in when you don’t have enough money in your account and a payment gets turned down. Unlike an overdraft, the bank doesn’t cover the purchase. They just decline it and still charge you a fee. To make matters worse, the person or business you were trying to pay may also charge their own fee for the failed payment.

4. ATM fees

ATMs make it super easy to get cash when you need it. But if you use an ATM that’s not part of your bank’s network, you’ll probably get charged $2-$5 just to take out your own money. 

Tip: Stick to your bank’s ATMs or find an account that pays you back for those extra fees.

5. Foreign transaction fee

When you buy something in a currency other than your own, many banks add a 1%-3% fee. You’ll usually see it if you’re traveling abroad or ordering from an international website. Not every bank charges it, though, so it’s worth checking which accounts skip this fee before you pick one.

6. Paper statement fee

If you prefer paper statements in the mail, some banks charge a monthly fee for the printing and postage. Go digital instead to avoid the fee. 

Bonus: Easier to keep track of and better for the planet.

7. Late-payment fee

These usually apply to credit cards or overdraft protection linked to a credit line. If you miss a payment deadline, the bank charges a fee of $25-$40. Even though kids won’t face this right away, it serves as a good reminder that due dates matter in the financial world.

8. Returned deposit fee

If you deposit a check and it bounces (because the person who wrote it didn’t have enough funds), your bank may still charge you. Even if it’s not your fault, banks sometimes pass the cost along anyway.

9. Stop payment fee

If you write a check and then realize you need to cancel it, the bank can stop it from being cashed (it’s called a stop payment). However, it can cost $20-$ 35. That’s a pricey reminder to double-check before handing out a check in the first place!

10. Account closure fee

Some banks even charge a fee if you close your account too soon, typically within the first three to six months. It’s their way of stopping people from jumping from bank to bank just to grab sign-up bonuses. So, if you’re not sure you’ll keep the account for a while, it’s smart to ask about this fee before opening one.

11. Inactivity fee

Certain banks penalize you if your account goes unused for an extended period of time. It may be a monthly charge that slowly eats away at your balance. 

Tip: If your bank has this fee, teens just learning to bank can set reminders to make small deposits or withdrawals to keep accounts active.

12. Wire transfer fee

Wire transfers move money quickly between banks, but they come at a price. Domestic wires can cost $10-$20; international ones can be closer to $40. Since kids probably won’t need this service, it’s more for parents to be aware of.

13. Excess withdrawal fee (on savings accounts)

Some bank savings accounts limit how often you can take money out each month. Go over the limit, and they’ll charge you a few dollars for every extra withdrawal. It’s their way of encouraging you to keep savings in savings.

14. Card replacement fee

Lose your debit card? Most banks will replace the first one for free, but additional replacements (or rush shipping) may cost you more.

How to avoid bank fees

Bank fees can feel like money slipping through the cracks, but there are ways to avoid them. 

• Ask about fees when opening an account.

• Monitor your balance to prevent overdraft or NSF charges. 

• Look for fee-free accounts for teens, students, and seniors.

• Use tools like Greenlight to track spending, prevent overdrafts, and build smart money habits from the start.

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