3 common checking account fees (and how to avoid them)
Do checking accounts have fees? Not all of them, especially if you understand how your account works and avoid these 3 scenarios.
It’s easy to take a checking account for granted. It provides a fast, seamless, and convenient way to spend and manage your money. But that doesn’t mean all checking accounts are created equal, especially when it comes to the costs associated with them. “How much does it cost to open a checking account,” you ask?
That really depends on the fees you’re charged for your checking account activity. No matter the amount, losing money to fees isn’t the only toll a pricey checking account can take. There can also be a psychological burden.
“The less you have to worry about checking account fees, the better it is for your financial and mental health,” says Emily Guy Birken, author of a book about money management.
A cognitive bias known as loss aversion plays a role here. In short, “we feel the pain of loss more keenly,” Guy Birken says, “than we would feel the joy of gaining the same amount of money.”
That makes checking account fees a “double whammy: You’re out the cash, but you’re also kicking yourself for losing it,” Guy Birken explains. Such a combination can be a real confidence kicker for someone who’s working hard to keep their balance in the black.
If you’re wondering, “How do I avoid checking account fees?” there’s actually some good news. A little knowledge can go a long way toward paying fewer fees, keeping more cash in your account and maintaining financial sanity.
Ask yourself the following questions to avoid checking account fees:
How much does it cost to open a checking account?
If you’re wondering how much it costs to open a checking account, know that it can vary, sometimes greatly, based on where you open your checking account. Many financial institutions will let you open an account at no cost. It’s only later that fees could start piling up.
“If you carry a small balance in your checking account, fees can have a huge impact and can eat away at your balance significantly,” says Brian Hanks, CFP®, who works with dentists in Salt Lake City, Utah.
Guy Birken agrees. “Millennials and those making under $30,000 tend to be hit the hardest,” she says.
Monthly maintenance fees cost an average of $5.47 per month for checking accounts that don’t earn interest.
Do checking accounts have fees I won’t see coming?
Potentially—depending on where you bank. That’s why if you want to avoid checking account fees it’s important to do your research and understand what fees are associated with an account before opening one. Capital One accounts are fee-free: Add in no minimum balance requirements and you have more money in your wallet.
That said, when do checking accounts have fees, exactly? Here are three common fee-inducing moves checking account holders can make, as well as how to avoid them:
Scenario 1: A monthly maintenance fee caught you by surprise
Monthly maintenance fees are not uncommon and should be considered if you’re trying to avoid checking account fees. They cost an average of $5.47 per month for checking accounts that don’t earn interest, according to a 2024 Bankrate checking account study.
Pro Tip:
Some banks will waive the monthly maintenance fee if you keep your account balance above a predetermined minimum. The average minimum balance to waive a non-interest checking account maintenance fee is $469, according to the same Bankrate study.
Scenario 2: You spent from your account but were short on cash
If you’re asking “do checking accounts have fees?” consider what will happen if you overdraw your account, or spend funds that are not available. Many banks will charge an overdraft fee if you write a check (and sometimes swipe your debit card) for an amount that exceeds your checking account balance. According to the same Bankrate study, the average cost of an overdraft fee is $27.08.
Pro Tip:
You may want to consider an overdraft protection service. Check with your bank to see which types of services they offer. If you’re able to take advantage of overdraft protection, it may help you cover transactions in the event that you overdraw your account.
While some banks do still charge a fee if you use overdraft protection, Hanks says it does come with benefits, like helping you avoid an uncomfortable moment if a check bounces or a transaction is declined. You may want to shop around to find a bank with low overdraft fees or a low cap on the number of overdraft fees that can be charged per day.
You can also help avoid checking account fees from overdrafting or using overdraft protection by carefully monitoring your balance using online and mobile banking.
Does your checking account charge overdraft fees? Capital One 360 Checking doesn’t, helping you hold on to more of your money.1
“The less you have to worry about checking account fees, the better it is for your financial and mental health.”
Scenario 3: You used an out-of-network ATM
Out-of-network ATM fees average $4.77, according to the same Bankrate study. Use the ATM a few times a month—or a few times a week—and those costs can quickly add up over the course of a year. Finding a place to withdraw money is a breeze with Capital One since you have access to over 70,000 fee-free ATMs nationwide.2
Pro Tip:
Getting familiar with your bank’s list of in-network ATMs, and using them exclusively, is an easy way to avoid checking account fees. “Most banks offer an ATM locator either on their website or through their mobile app,” Guy Birken says, noting that there are also financial apps available to help you locate no-fee or in-network ATMs to help you avoid ATM fees.
“Don’t forget the option of buying something small at a grocery store and getting cash back,” she adds. “It will feel better to spend a dollar and get some breath mints and your cash than spend $3 to $7 in fees with nothing to show for it.”
Why should you avoid checking account fees?
For most people, getting hit with fees a few times a year won’t be what derails their overall financial plan. Even so, jumping through hoops to avoid checking account fees from eating away at your money may not be the best use of your time and energy.
“If you can’t feel as though your money is safe in your checking account without constantly keeping an eye on it,” Guy Birken says, “it can cause you additional (and unnecessary) stress.”
While it might not be possible to avoid all fees, there’s value in doing your research to understand the fees that are connected to your account and how much you will be charged. It’s also possible, and worthwhile, to find a bank that clearly spells out the fees associated with its checking account.
Using an account with fewer fees could make you feel like you have a leg up on your financial strategy. This may bring you the confidence boost you need to take your financial goals to the next level.
Don’t spend your afternoon at a bank branch. Capital One’s streamlined process lets you open an account from your couch in about 5 minutes.
1No-fee overdraft authorizes us to consider paying your checks, ACH and recurring debit transactions that put your account into overdraft. You also have the option to ask us to consider paying your everyday debit card and ATM transactions if they would cause you to overdraft your account. In making a payment decision, we typically consider a variety of factors, including the size of the transaction, whether your account is in good standing and/or if you have had too many overdrafts. If we elect to pay an overdraft item, you have no right to defer payment and you must deposit additional funds into your account promptly in an amount sufficient to cover the overdraft. To qualify for no-fee overdraft, you must regularly deposit at least $250 during two of the previous three calendar months. Accounts that haven’t met this will no longer have access to overdraft until the next month when you’ve met this requirement. New accounts will not have access to no-fee overdraft until the consistent deposit requirement has been met.
2Competitor bank comparison is based on size of branded and partner ATM networks and cited fees as of 9/10/25. Competitor set is based on Top 25 banks by estimated domestic retail deposits from the FDIC’s Summary of Deposits report effective June 2024. Retail deposits are estimated as total outer fenced capped deposits plus total uncapped direct deposits. Banks which did not file a Summary of Deposits report are sourced from various company reports. Consumers should research all products before opening.
As of August 21, 2025, there are at least 1,260 Capital One ATMs, 35,000 MoneyPass® ATMs and 40,000 Allpoint® ATMs.
The Capital One ATM network offers Capital One checking customers free access to Capital One, MoneyPass® and Allpoint® ATMs.
Fee-free ATM access is limited to consumer and business checking accounts.
All Capital One ATMs, including Café ATMs, have a $3 fee for any non-Capital One customer.
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The information provided herein is for informational purposes only and is not intended to be construed as professional advice. Nothing contained in this article shall give rise to, or be construed to give rise to, any obligation or liability whatsoever on the part of Discover, a division of Capital One, N.A., or its affiliates.
