4 easy tips to avoid bank fees

'Bank fees have reached nearly $82 billion a year, or about $311 for every adult in the US'

(Image credit: Javier Zayas Photography / Getty Images)

published 28 November 2025

Life already throws enough costs your way. The last thing you want is to pay extra money for the place you are keeping your money safe, whether you use that bank account to cover daily transactions or to build up your savings.

Not only are fees an inconvenience, they can also take a big bite out of your available funds. A 2024 banking survey by Ernst & Young “found that bank fees have reached nearly $82 billion a year, or about $311 for every adult in the U.S.,” said CNBC Select. But if you are strategic, you stand a solid chance of steering clear of the most common costs that hit account holders.

Make sure to meet any minimum balance or other requirements

A common fee you will run into at banks is a monthly service fee, which is a cost simply for having your account up and running. The good news is that “banks that have these fees usually waive them if you maintain your balance above a specified amount, have a direct deposit set up or make a certain number of transactions with your debit card,” said Bankrate. If these requirements apply, make sure you know what you have to do to meet them, so you do not end up paying the fee instead.

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Keep regular tabs on your account balance

Potentially costly fees could apply if you overdraft your account. While you can avoid this cost by signing up for overdraft protection, “unfortunately, this protection also comes at a cost,” said Investopedia. A fee-free way to avoid running into this scenario is to commit to regularly checking in on your account balance. That way, you always know exactly how much you have in your account and do not spend beyond that. As a bonus, it is also a useful budgeting exercise.

Do the legwork to find in-network ATMs

Average total ATM fees, “including both the charge from your own bank as well as from the ATM’s operator, are at a record high of $4.86,” said Kiplinger, citing a recent Bankrate survey. As such, even if it feels like a bit of a hassle, it can quite literally pay off to search for an in-network ATM to use, where these fees will not apply. Some banks, particularly online-only banks, are “members of large networks, such as Allpoint or MoneyPass, that allow customers to withdraw money fee-free from tens of thousands of ATMs around the country,” said Kiplinger.

If you are still getting paper account statements in the mail, there is a chance you are paying for them. “In an effort to encourage customers to take advantage of online banking services, many banks are now charging a fee for requesting paper statements,” said SmartAsset, a personal finance blog. Although it “may not seem like much to pay $2 or $3 a month for this service,” those charges “can add up over time”

Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as a deputy editor and later a managing editor overseeing investing and savings content at LendingTree and as an editor at the financial startup SmartAsset, where she focused on retirement- and financial-adviser-related content. Before that, Becca was a staff writer at The Week, primarily contributing to Speed Reads.