From Overdrafts to ATM Withdrawals: Comparing Fees of the US Top Banks

Posted on 03/02/2010

Fees are not fun. Especially when they can be avoided, which seems to be the case for most fees banks charge. We’re taking a look at some of the pesky fees charged by top banks including Bank of America, Chase, Citibank, US Bank and Wells Fargo. Wondering who charges the biggest fees? Here’s what we discovered.

Bank of America

Monthly Maintenance Fees: At Bank of America you’ll pay $12 a month for a maintenance fee if your regular checking account doesn’t have an average daily balance of at least $750.

ATM Fees: If you’re a Bank of America customer and you use a Bank of America ATM, you’ll avoid most fees. But after you’ve requested one ATM Mini Statement, you’ll pay $1 for each additional one you request that month. Full statements printed at the ATM cost $2 each. If you use a non-Bank of America ATM, you’ll get slapped with a $2 fee for every withdrawal, transfer or balance inquiry. Outside the US, that fee jumps to $5.

Overdraft Fees: When you make a purchase for an amount that is more than you’re balance, you’ll get hit with a $35 overdraft fee.


Monthly Maintenance Fees: Depending on what type of checking account you have with Chase, the monthly maintenance fee can range from $6-$25. For the Chase Better Banking Checking Account, the fee is $12 unless you have a balance over $1500, then it is waived.

ATM Fees: According to a report in the Chicago Tribune, Chase charges people who are not their customers $3 to use a Chase ATM.

Overdraft Fees: According to a report in the New York Times, Chase’s overdraft fees are $25 for the first time in a year, $32 for the next four and $35 for every overdraft after that.


Monthly Maintenance Fees: The monthly maintenance fee for Citibank depends on which state you live in and which type of checking account you have. Here’s a look at the fees for a Basic Checking account. Fees could range anywhere from $3 to $9.50.

ATM Fees: If you belong to Citibank you won’t be charged for using their ATMs. And if other banks charge you for using their ATMs, you may qualify to receive rebates for up to six ATM fees per statement period, according to the ATM Reimbursement Program. Traveling outside the US? Citibank customers should be prepared to pay a 3% foreign exchange fee on withdrawals.

Overdraft Fees: Citibank does offer overdraft protection, but every time they cover overdrafts by transferring money into your checking account, you’ll be hit with a $10 fee.

US Bank

Monthly Maintenance Fees: Most of US Bank’s checking accounts do not charge a monthly maintenance fee. There is a $15 fee with the Elite Checking account.

ATM Fees: US Bank customers can use US Bank ATMs for free, but they charge $1 for printing a copy of your Mini Statement and $1.50 for a copy of the full statement. Withdrawing cash or checking your balance at a non-US Bank ATM will cost you $2.

Overdraft Fees: The first time you overdraft your US Bank account, you’ll get hit with a $19 fee. The second, third and fourth time it will cost you $35 per item. And after that you’ll pay $37.50 for overdrafts.

Wells Fargo

Monthly Maintenance Fees: Monthly Service Fees for Wells Fargo checking accounts range from $5 to $25 depending on the type of account you have and which state you live in. For the Basic Checking Account the fee is $5, but the fee is waived if you have a $1,000 balance or use Direct Deposit.

ATM Fees: When Wells Fargo customers use a non-Wells Fargo ATM they’ll pay $2.50 for transactions and $1.50 for balance inquiries. Use the ATM outside of the US and that fee jumps to $5. Some of these fees are waived for certain types of accounts.

Overdraft Fees: Certain accounts qualify for Overdraft Protection. If you have Overdraft Protection with Wells Fargo and there isn’t enough money in your account to cover a check, withdrawal or payment, Wells Fargo will cover the amount and charge you between $10 and $20 depending on the amount they have to cover.

By Alison Storm

Old Navy - Save 20% off spring fashions for the whole family with coupon code ONSPRING. Expires 03/04/2010. - Save 50% on dining gift certificates, plus get a free $10 gift certificate with every order, by using coupon code DINE. Expires 03/04/2010.

* Hot deals expire quickly. This deal may no longer be valid.



Posted on 03.02.10 at 10:33 AM

A couple of quick tips, if you have direct deposit of your pay check, most backs will waive the monthly fee. If they don't ASK - they will likely do it for you.

Sign up for overdraft protection, they will basicly give you a line of credit behind your checking account. If you bounce a check they will just use this credit line and you save a ton of fees.

For ATM - if you can't find your own bank (preferred), go to a super market buy a pag of gum and use your debit card and ask for cash back and you avoid a fee higher than the price of the gum.


Posted on 03.02.10 at 10:39 AM

One other tip - order new checks from; it is much cheaper and you have plenty of good layouts to pick from.


Posted on 03.11.10 at 10:58 AM

Great tips! Thanks for sharing!


Posted on 10.10.13 at 7:19 AM

Hi Brittany: I am looking to share a room also. I aearldy have a room reserved for Thursday and Friday and would be open to sharing it with you. Let me know. Thank you, Annie

Post A Comment