Checking Account Fees on the Decline

August 23, 2016, Written By John H. Oldshue

Checking account fees are beginning to decline in America after several years on the rise, according to the latest MoneyRates Bank Fees Survey. The study found the average monthly maintenance fee in the United States is now $13.25, down $0.04 from the previous survey. This is a fee charged to a checking account regardless of the type of activity a person has with the bank.

Overdraft fees decreased by $0.16 to an average of $32.22. A report from The Pew Charitable Trusts in 2015 showed that 84% of the largest banks in the country charged an average overdraft fee of $35. Another study found 39% of college students pay at least $67 in overdraft fees each year.

ATM fees have also gone down for customer and non-customer transactions. Many banks offer free ATM withdrawals and other benefits to customers as long as they use ATMs sponsored by the bank. If you use an out-of-network ATM, you may have to pay more to make a withdrawal and check your account balance. Nevertheless, customer ATM fees have dropped by $0.13 to $1.60, and non-customer fees have dropped by $0.07 to $2.80.

These declines are most prominent for financial institutions with online banking options. 61% of online checking accounts do not have any monthly maintenance fee, compared to 25% of traditional banking accounts.

The information contained within this article was accurate as of August 23, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About John H. Oldshue

John Oldshue is the creator of He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for
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