Checking Account Fees: How Much Are They and How Can You Avoid Them?

Written by Liz Smith

Edited by Mo Mozuch

Edited by Arturo Conde, CEPF®

Updated on May 19, 2025, 12:49pm ET

A checking account provides a great tool for money management, keeping your money both safe and easily accessible. However, many banks and credit unions charge a fee to own a checking account. These fees generally range from $4 to $20 although they can reach higher depending on your bank and account type. This is in addition to other bank fees for transactions like wire transfers and overdrafts. Let’s take a look at what the most popular banks charge in checking account fees and how you can potentially avoid them.

A financial advisor can help you review bank account options, compare fee structures and recommend strategies to minimize or eliminate fees, while maximizing savings.

Average Checking Account Fees at Major Banks

According to a February 2025 MoneyRates survey, the average checking account fee at top U.S. banks is $13.95. Amounts average between $0 to $20, with many finding a middle ground at either $7, $10 or $12. The table below compares what some of the big banks charge for their basic checking accounts.

Bank Checking Account Fees

Bank	Account Name	Standard Checking Account Fee
Bank of America	Advantage Plus	$12/month (waivable)
Capital One	360 Checking®	$0
Chase	Total Checking®	$12/month (waivable)
Citi	Regular Checking	$15/month (waivable)
Charles Schwab	Investor Checking®	$0
Discover	Cashback Checking	$0
PNC Bank	Virtual Wallet	$7/month (waivable)
Santander	Simply Right® Checking	$10/month (waivable)
EverBank	Yield Pledge Checking	$0
Wells Fargo	Everyday Checking	$10 (waivable)

How to Avoid Checking Account Fees

If you don’t want to switch banks to snag a free checking account, you can try to have your monthly fee waived instead. You’ll often have a few options, some we’ve outlined here.

1. Meet the minimum balance

Many major banks require a minimum checking balance. Meeting your account’s given amount is the most common way to avoid a checking account fee. Check whether your bank assesses your average daily balance or the balance on the last day of your billing cycle. Some banks may count your total balance throughout all your accounts.

2. Enroll in direct deposit

The second-most common way to avoid fees is to set up direct deposits straight to your checking account. Usually, this just means setting up your paycheck or other income stream to automatically deposit electronically. This offers a great option if you can’t maintain the minimum monthly balance on your own. Like a minimum balance, direct deposits keep money in your account, making it available for banks to invest and loan. If you don’t have a consistent income every month, you may be able to move a portion of savings to your checking account every month.

3. Ask about discounts

Are you a student? Senior citizen? Veteran? Check with your bank to see if they can waive the monthly service fee for you if you fall into one of these categories. Often banks can waive fees for certain groups who may not be able to afford the fees.

4. Open another account

You can also avoid checking account fees by opening another account with the same institution. Depending on the institution and account, you can open a money market account, certificate of deposit, savings account or individual retirement account (IRA). Often, linking these accounts can also snag you higher-earning interest rates, especially on a savings account.

Checking Accounts Without Fees

The best way to avoid a checking account fee is simply to choose a free checking account. You have several options available, in addition to the Capital One, Charles Schwab and Discover accounts listed above. Typically, online banks offer fee-free accounts since they don’t face the same costs of brick-and-mortar organizations. These accounts also tend to have better interest rates, yielding a higher return without any extra effort on your part. Here are some online banks that don’t charge any checking account fees:

EverBank Yield Pledge®: Not only can you avoid monthly maintenance fees with EverBank, but you can avoid ATM fees, too. The Yield Pledge® account combines the high interest of a savings account with the flexibility of a checking account. One drawback, however, might be that you need at least $100 to open the account.
Ally Bank Spending Account: Ally Bank is an entirely online/mobile platform. When you bank with Ally, you get to benefit from no service fees, no account minimum and a competitive interest rate. Plus, Ally offers access to the Allpoint® ATM network and reimburses up to $10 per month for ATM fees.
Axos Bank Rewards Checking: Looking to earn some serious cash from your checking account? Axos Bank, formerly Bank of Internet USA, has a great high-yield checking account that earns 3.30% APY. The bank will also reimburse every ATM fee. Best of all, you don’t have to meet any maintenance or minimum balance thresholds.

When Should You Switch to a Free Checking Account?

If you’re paying monthly fees on your checking account and no longer meet the requirements to waive them, it may be time to switch to a free account. For example, if you used to qualify for free checking with direct deposits but no longer have them, you could be losing $10 to $15 every month. Over time, these fees add up and take away from your savings.

Switching to a free checking account makes sense if your current account doesn’t give you enough benefits to justify the cost. Many online banks and credit unions offer no-fee accounts with features like ATM fee refunds and competitive interest rates. If you’re not getting these perks and are paying fees just to keep your account open, it’s worth exploring better options.

Before switching, check that the new account meets your needs. Look at ATM access, online banking tools, customer service, and any transaction limits. Make sure to transfer your automatic payments and direct deposits so your bills and paycheck go through without problems. Moving to a free account can help you avoid unnecessary costs and keep more of your money.

Bottom Line

Checking accounts shouldn’t be complicated or costly. In most cases, you can easily waive the monthly fee if there is a fee at all. Plus, if you’re unhappy with your current account, you don’t have to stick with it. You can easily switch banks to find the bank accounts that work best for you. Consider your options and ask questions. Just be sure to review any account terms and conditions carefully before signing on the dotted line to avoid any unexpected fees.

Tips for Financial Planning

A big part of banking responsibly is making sure you’re using your money efficiently with your bank accounts. This means finding free checking accounts or waiving the fees if you can. It also means you should find accounts that earn you money, as well. That way, you can stash away your money whether in a checking account or savings account, and expect a bigger balance the next time you check back in.
A great way to make your accounts work for you is to open an interest-earning checking account. That way, you can keep your money safe and easily accessible, while your balance also earns you more money.
If you’re looking for advice beyond banking, a financial advisor can help you create a financial plan for your goals. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.