Monthly Maintenance Fees by Bank 2026: Complete Comparison & How to Avoid

Monthly maintenance fees cost Americans billions of dollars annually — charges that reach $144 to $180 per year at banks like Bank of America ($12/month), Chase or Wells Fargo ($15/month) if not waived. Balance-based waivers mean customers with high balances usually pay nothing.

This guide compares monthly fees at every major bank and shows you exactly how to avoid them.

Monthly Fees: Quick Comparison

Banks With No Monthly Fees

These banks never charge monthly maintenance fees, regardless of your balance or activity.

Capital One 360 — $0

Capital One 360 is unique among major banks: no fees, but with 270+ physical branch locations (Capital One Cafés) in major metros.

Ally Bank — $0

Ally is online-only but lists its bank phone line as open 24/7, up to $10 per statement cycle in ATM fee reimbursements, and top-tier savings rates.

Discover Bank — now part of Capital One

Discover merged into Capital One on May 18, 2025, and Capital One says Discover’s bank accounts will become Capital One accounts. Discover’s checking account historically paid debit cash back rewards, which Capital One 360 Checking doesn’t offer.

Other No-Fee Banks

Traditional Banks: Fee Details

Chase — $15/month

Easiest waiver: $500+ in qualifying electronic deposits each statement period (paycheck, government benefits, etc.)

Bank of America — $12/month

Easiest waiver: $250 direct deposit — the lowest threshold among major traditional banks.

Wells Fargo — $15/month

Easiest waiver: $500 in qualifying direct deposits; the balance route needs $1,500, the same amount as Chase.

Citi — $15/month

Easiest waiver: $250 or more in direct deposits or other qualifying transactions each month.

PNC — $7/month

Benefit: Virtual Wallet includes Low Cash Mode — extra time to avoid overdraft fees.

U.S. Bank — $12/month

Easiest waiver: For owners aged 13–24 or 65 and over, the Smartly Checking fee is waived; otherwise $1,500 in monthly direct deposits or a $1,500 average balance.

TD Bank — $4.95/month (Essential Banking) or $15/month (Complete Checking)

Note: TD Bank restructured its checking lineup; the previously common “TD Simple Checking” and “TD Convenience Checking” names have been replaced by TD Essential Banking and TD Complete Checking. Confirm current account names and terms on TD’s website, as these were last verified in September 2026.

Truist — $12/month

Unique option: Linking any Truist credit card, mortgage, or loan waives the monthly fee.

Monthly Fee Comparison by Waiver Difficulty

Easiest to Waive (Best for Low Balances)

Hardest to Waive (Worst for Low Balances)

Savings Account Monthly Fees

Recommendation: For savings, online banks such as Ally (3.10% APY) pay far more than the FDIC national average of 0.38%, with no monthly fees. Traditional bank savings accounts pay 0.01% and charge fees — there’s no reason to use them.

The Real Cost of Monthly Fees Over Time

Monthly bank fees seem small individually, but their long-term impact is significant — especially because fee-payers tend to be lower-income households that can least afford it:

A household paying Chase’s $15/month fee for 10 years loses $1,800 in direct fees — and roughly $2,483 in foregone investment returns if that money were invested instead.

Waiver Strategies That Actually Work

Most traditional bank fees can be waived, but the waiver requirements favor higher-income customers:

Direct deposit is the master key: Setting up your paycheck direct deposit to any of these banks waives the fee at most institutions, as long as it meets the bank’s minimum. If your employer splits direct deposit across accounts, direct even a small portion to your traditional bank to satisfy the requirement.

The age exception: Several banks waive fees by age — Chase Secure Banking and Wells Fargo Everyday Checking for owners aged 17–24, Truist One for owners under 25 or 62 and older, and U.S. Bank Smartly Checking for owners 13–24 or 65 and over.

How Much Do Monthly Fees Cost?

Over 10 years, paying $12/month in bank fees costs $1,440 — money that could be invested or saved.

Who Pays the Most Monthly Fees?

The waiver rules decide who pays: balance-based waivers are harder to meet if you keep a small balance, and direct-deposit waivers are harder to meet with irregular income.

How to Avoid Monthly Fees

Strategy 1: Set Up Direct Deposit

The most reliable waiver method at traditional banks.

What counts: Payroll, government benefits, pension payments, some gig income

Strategy 2: Maintain Minimum Balance

If you have savings, keeping them in checking waives fees.

Note: TD Bank’s lowest-fee option, Essential Banking, charges a flat $4.95/month with no balance-based waiver. Its fee-waivable account, Complete Checking, waives its $15/month fee with a $500 direct deposit or $500 daily balance.

Strategy 3: Switch to a Fee-Free Bank

The simplest solution — bank where fees don’t exist.

Strategy 4: Qualify for Student/Senior Accounts

Strategy 5: Bundle Products

Some banks waive checking fees when you have other products:

Checking vs. Savings: Fee Strategy

Best setup for avoiding fees:

1. Checking: Capital One 360 or Ally (no fees, functional debit card)
2. Savings: Ally or Marcus (no monthly fees)
3. Alternative checking: TD Bank Essential Banking ($4.95/month flat fee, no balance minimum)

Worst setup:

• Traditional bank checking without meeting waiver requirements
• Traditional bank savings (0.01% APY plus fees)

Monthly Fees: Final Verdict

Monthly maintenance fees can usually be avoided, either by meeting a waiver or by choosing an account without one. With so many fee-free options offering competitive features, there’s little reason to pay $12/month for the privilege of having a bank account.

Related Guides

• Bank Fees Comparison
• Overdraft Fees by Bank
• How to Avoid Bank Fees
• Best No-Fee Banks
• Best Online Banks
• Best Checking Accounts

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.