Common bank fees and how to avoid them

Ten fees that show up on everyday bank statements, what triggers each one, and how to stop paying it. Fee names and amounts differ by bank; your account's fee schedule has the details.

Overdraft fee

Charged when a payment goes through without enough money in the account.

Avoid it: Opt out of overdraft for debit card and ATM use, link savings, set low-balance alerts.

Non-sufficient funds (NSF) fee

Charged when a payment is declined or returned for lack of funds; many banks have dropped it.

Avoid it: Low-balance alerts, a small buffer, and scheduling bills after payday.

Monthly maintenance fee

A monthly charge for keeping the account open.

Avoid it: Meet the waiver, or switch to a no-fee account.

Out-of-network ATM fee

Charged by your bank, the ATM owner, or both.

Avoid it: Use in-network ATMs, get cash back at stores, or pick a bank that refunds ATM fees.

Excessive withdrawal fee

Some savings accounts charge for too many withdrawals in a month.

Avoid it: Plan transfers, and keep spending money in checking.

Paper statement fee

Charged for mailed statements.

Avoid it: Switch to e-statements, and download them regularly.

Wire transfer fee

Charged for sending or receiving wires.

Avoid it: Use free bank transfers when timing allows; never wire money to someone you haven't verified.

Foreign transaction fee

A percentage added to purchases in other currencies.

Avoid it: Use a card without foreign transaction fees when traveling or shopping abroad.

Account closing fee

Some banks charge if you close an account soon after opening.

Avoid it: Check the fee schedule before you open, and wait it out if close.

CD early withdrawal penalty

Lost interest if you take money out of a CD before it matures.

Avoid it: Use a CD ladder or no-penalty CD for money you might need.

Already paid a fee?

Call your bank, be polite, and ask whether they can refund it. Long-time customers and first-time fees often get a yes. If you have a complaint a bank won't resolve, you can submit it to the Consumer Financial Protection Bureau (CFPB).