Avoid or Reduce Overdraft Fees Avoid or Reduce Overdraft Fees

Keep a lid on checking account fees

Reducing fees

No one likes to see fees reducing 

their checking account balance 

every month. 

You may not be able to eliminate 

all the fees charged by your bank 

or credit union, but here are six 

steps to reduce the number or 

amount of fees you pay: 

1. Keep track of your balance to avoid spending more than you 

have available or going below your minimum balance requirement. 

For example:

	 • Check your balance at the ATM before you withdraw cash.

	 • Ask if your bank or credit union offers low-balance warnings

via e-mail or text.

	 • Ask your bank or credit union when the money you deposit 

 will be available for your use. 

	 • Ask your bank how it processes debits to your account. 

 Debits are not always processed in the order in which 

 they occur. 

	 • Monitor your account online or with a mobile app.

2. Find out if fees can be waived. Many financial institutions waive

monthly service fees if you maintain a minimum balance or sign up 

for direct deposit. Compare fees.

Keep a lid on checking account fees

Reducing fees.

No one likes to see fees reducing 

their checking account balance 

every month. 

You may not be able to eliminate 

all the fees charged by your bank 

or credit union, but here are six 

steps to reduce the number or 

amount of fees you pay: 

1. Keep track of your balance to avoid spending more than you 

have available or going below your minimum balance requirement. 

For example:

	 • Check your balance at the ATM before you withdraw cash.

	 • Ask if your bank or credit union offers low-balance warnings

via e-mail or text.

	 • Ask your bank or credit union when the money you deposit 

 will be available for your use. 

	 • Ask your bank how it processes debits to your account. 

 Debits are not always processed in the order in which 

 they occur. 

	 • Monitor your account online or with a mobile app.

2. Find out if fees can be waived. Many financial institutions waive

monthly service fees if you maintain a minimum balance or sign up 

for direct deposit. Compare fees.
Avoid or Reduce Overdraft Fees Avoid or Reduce Overdraft Fees

3. Watch out for overdraft fees. Overdrafts occur when you spend 

or withdraw more money than is available in your checking account. 

Many banks and credit unions will charge you several overdraft fees

per day with each one costing you between $30 and $35. 

4. Use your financial institution’s ATMs. Many banks or credit

unions offer ATM locator maps on their websites and mobile apps.

5. See if there’s a low-fee checking account for you, such as a 

seniors or students account, or just a basic checking account with 

a low minimum balance requirement and a limited number of “free” 

checks and withdrawals. 

6. Open and review all of the mail from your bank or credit union. 

Review account statements every month to make sure they are 

correct and report errors immediately. You must also be notified

when your minimum balance requirement, fees, or other account 

terms change. 

3. Watch out for overdraft fees. Overdrafts occur when you spend 

or withdraw more money than is available in your checking account. 

Many banks and credit unions will charge you several overdraft fees

per day with each one costing you between $30 and $35. 

4. Use your financial institution’s ATMs. Many banks or credit

unions offer ATM locator maps on their websites and mobile apps.

5. See if there’s a low-fee checking account for you, such as a 

seniors or students account, or just a basic checking account with 

a low minimum balance requirement and a limited number of “free” 

checks and withdrawals. 

6. Open and review all of the mail from your bank or credit union. 

Review account statements every month to make sure they are 

correct and report errors immediately. You must also be notified

when your minimum balance requirement, fees, or other account 

terms change. 

Checking account complaints? 

visit ConsumerFinance.gov or call 1-855-411-CFPB

Checking account complaints? 

visit ConsumerFinance.gov or call 1-855-411-CFPB