Bank Fees You Should Never Pay: How to Keep More of Your Money

Americans pay over $8 billion in bank fees every year. Most of these fees are completely avoidable.

Monthly Maintenance Fees

Big banks charge $10-15/month just to hold your money. That is $180/year for nothing. Switch to an online bank with zero monthly fees — they exist and are FDIC insured.

Overdraft Fees

At $35 per transaction, overdraft fees are the most expensive short-term loan in existence. Opt out of overdraft protection entirely. A declined transaction is free.

ATM Fees

Using out-of-network ATMs costs $3-5 per withdrawal — your bank charges you AND the ATM owner charges you. Choose a bank that reimburses ATM fees nationwide.

Wire Transfer Fees

Domestic wires cost $25-35. International wires run $40-50. Use Zelle, Venmo, or Wise instead — most transfers are free or under $5.

The Fix

Switch to a fee-free online bank. You will earn higher interest on savings AND pay zero in monthly, ATM, and overdraft fees. The switch takes 30 minutes.

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