What Big Banks' Fee Schedules Mean for Your Checking Account

The fee schedules now in force at four of the largest US banks took effect this summer: Chase's on June 14, 2026, Wells Fargo's on July 28, Bank of America's on August 7 and U.S. Bank's on August 10. Wells Fargo's Everyday Checking, for one, still carries the higher price set last fall: $15 a month unless a waiver applies, up from the $10 its product page listed in June 2025. The minimum daily balance that waives the fee tripled to $1,500 from $500, for fee periods starting in late October or late November 2025. What this means for you: what an account really costs is set in those documents, not on the product page, and the five fees below depend on conditions found there.

Key takeaways

Chase Total Checking ($15), Bank of America Advantage Plus ($12) and Wells Fargo Everyday Checking ($15) test the balance waiver against your lowest or start-of-day balance, so one day under $1,500 can trigger the fee. U.S. Bank Smartly Checking ($12) uses a monthly average instead.
Deposit-based waivers have narrow definitions. Chase excludes Zelle, cash, checks and wires, and Bank of America counts only regular monthly income sent by an employer or other payer.
An out-of-network ATM withdrawal usually costs two fees: $2.50–$3 from your own bank plus the ATM owner's surcharge, which averaged $3.22 in Bankrate's 2025 survey. U.S. Bank's $3 fee applies to every transaction, balance inquiries included, though Smartly Checking waives it on the first two each statement period, and on all of them from $25,000 in combined balances.
At Wells Fargo, direct deposits don't prevent dormancy and monthly fees keep running. U.S. Bank generally adds a $5 monthly dormant fee after 12 months without client-initiated activity, where state law allows.
Stop-payment orders cost $25–$35, and processing a garnishment or levy costs up to $100 at Chase, $100 at U.S. Bank and $125 at Wells Fargo. Federal rules bar a garnishment fee against the protected amount of recently direct-deposited Social Security, VA and other federal benefits.

What it means for you

Your balance dips below $1,500 before payday: at Chase, Bank of America and Wells Fargo, the lowest day decides whether you pay (Fee 1).
You're paid irregularly, or by app, check or transfer: those deposits may not count toward a direct-deposit waiver (Fee 1).
You use other banks' ATMs: expect two charges per withdrawal, and at U.S. Bank a balance check counts as a separate transaction once the two free ones are used (Fee 2).
You have a second or forgotten account: a recurring deposit may not stop it going dormant, and fees can run until the state takes the balance (Fee 3).
You're cancelling a payment or facing a debt collector: a stop-payment order and a garnishment both carry fees, with a federal carve-out for benefit deposits (Fees 4 and 5).
You've just opened an account: the opening fee waiver is short (two statement periods at U.S. Bank, at least two at Chase, fee periods ending within 64 days at Wells Fargo), so the waiver rules matter from about the third month (Fee 1).

Where the fine print lives

The federal Truth in Savings Act, implemented by Regulation DD, 12 CFR 1030.4, requires a bank to disclose the amount of every fee that may be charged on an account and the conditions that trigger it. The bank must do this before the account is opened, and again whenever you ask. If a change could hurt you, such as a higher fee or a stricter waiver, section 1030.5 requires notice at least 30 calendar days before it takes effect. Check-printing fees are one of the exceptions. When a bank sends statements, section 1030.6 requires each fee charged during the period to be itemized by type and dollar amount.

Truth in Savings requires fees to be disclosed but doesn't cap them. On May 12, 2025, the CFPB withdrew 67 guidance documents, including its 2022 bulletin on returned-deposited-item fees and a 2023 advisory opinion saying large banks likely couldn't charge for basic account-information requests. The bureau said the withdrawal is not necessarily final. Three days earlier, Public Law 119-10 had voided the CFPB's large-bank overdraft rule. Overdraft fees are a separate topic and aren't covered here.

The table compares the five fees at each bank's best-known everyday checking account, using the documents in force on October 5, 2026.

Fee	Chase Total Checking	Bank of America Advantage Plus	Wells Fargo Everyday Checking	U.S. Bank Smartly Checking
Monthly fee and balance waiver	$15; $1,500 at the start of each day	$12; $1,500 minimum daily balance	$15; $1,500 minimum daily balance	$12; $1,500 average balance
Deposit-based waiver	$500+ qualifying electronic deposits	One qualifying direct deposit of $250+	$500+ qualifying electronic deposits	$1,500+ combined monthly direct deposits
Out-of-network ATM in the US (your bank's fee)	$3 per withdrawal	$2.50 per withdrawal or transfer	$3 per withdrawal	$3 per transaction, inquiries included; first two per period waived on Smartly
Idle-account rule	Inactive at 24 months, dormant at 30; access restricted	Inactive status may keep monthly fees running	Dormant at 12 months for checking	Dormant at 12 months for checking; $5 a month
Stop payment	$30 with a banker, $25 online	$30; free for debit card and Bill Pay	$30 for a paper or ACH item	$35
Garnishment or levy processing	Up to $100 per order	Costs incurred, which can include attorneys' fees	$125 each, max $250 per month	$100

Sources: Chase Additional Banking Services and Fees and Deposit Account Agreement (both effective 6/14/2026); Bank of America Personal Schedule of Fees (August 7, 2026) and Deposit Agreement and Disclosures (May 15, 2026); Wells Fargo Consumer Account Fee and Information Schedule and Deposit Account Agreement (both July 28, 2026); U.S. Bank Consumer Pricing Information and Your Deposit Account Agreement (both August 10, 2026). Each bank also offers other waivers (age, military service, linked accounts, rewards tiers).

Fee 1: monthly fee waiver rules

Chase requires $1,500 or more "at the beginning of each day" of the statement period. Bank of America defines its minimum daily balance as the lowest balance during the cycle. Wells Fargo says that if the balance falls below the minimum "at any time during the fee period," the fee may apply. U.S. Bank averages the end-of-day balances across the period:

Average balance = (sum of each day's ending balance) ÷ (number of calendar days in the period)
Minimum daily balance = the single lowest balance on any day of the period

Illustrative example. A freelancer is paid by check and Zelle, so no deposit-based waiver applies at any of the four banks. The balance sits at $2,400 for 28 days of a 30-day period, then drops to $1,350 for the two days before a client pays. The average is (28 × $2,400 + 2 × $1,350) ÷ 30 = $2,330, so U.S. Bank's $1,500 average test is met and its $12 fee is waived. The lowest balance is $1,350, so the fee applies at Chase ($15), Bank of America ($12) and Wells Fargo ($15). Repeated every month, that is $180 a year at Chase or Wells Fargo and $144 at Bank of America, all on an account that averaged more than $2,300.

Deposit-based waivers have their own definitions:

Chase counts ACH, RTP and FedNow payments and card-network credits to your debit card. Zelle, cash, checks, wires and interest don't count.
Bank of America requires a deposit of regular monthly income, such as salary, pension or Social Security, sent by an employer or other payer to your account and routing numbers. Teller and ATM deposits, wires and transfers between accounts don't qualify.
Wells Fargo counts ACH, RTP, FedNow and card-network credits. A paycheck released early through its Early Pay Day feature counts only once it posts on the payer's scheduled date. The bank can also change your fee period without notice, for example when accounts are combined on one statement.

Fee 2: two charges per ATM visit

Using another bank's ATM usually triggers two separate fees. The ATM's owner charges a surcharge, and your own bank charges an out-of-network fee: $3 at Chase, Wells Fargo and U.S. Bank, and $2.50 at Bank of America. Bankrate's 2025 checking survey of 245 institutions in 25 large markets, published September 10, 2025, found a record average surcharge of $3.22 and an average home-bank fee of $1.64, for a total of $4.86.

Only the first of those charges must be shown at the machine. Under Regulation E, 12 CFR 1005.16, an ATM operator must show its fee on screen or on paper before you're committed, and it can charge only if you continue. Your own bank's fee isn't part of that notice, so the amount on screen understates what you pay.

U.S. Bank's pricing guide adds a twist: its $3 fee applies to "each withdrawal, balance inquiry, funds transfer or deposit" at a non-U.S. Bank ATM. Smartly Checking includes the bank's Smart Rewards program, which waives the fee on the first two such transactions each statement period when combined balances are under $25,000, and on all of them from $25,000. Once the two free transactions are used, checking your balance before a withdrawal costs $6 in U.S. Bank fees before any surcharge. U.S. Bank customers pay no surcharge at MoneyPass network ATMs, but its own fee can still apply there.

Illustrative example. Two out-of-network withdrawals a month at Chase or Wells Fargo, at $3 from your bank plus a $3.22 surcharge cost $12.44 a month, or $149.28 a year. At Bank of America's $2.50 fee, the same habit costs $137.28 a year.

Fee 3: dormant account charges

An unused account runs on two clocks: first the bank's own "inactive" or "dormant" status, which can restrict access or add fees, then the state-law point at which the balance is presumed abandoned and handed to the state as unclaimed property.

The bank's clock is the one people underestimate, because automatic activity may not reset it:

Wells Fargo generally treats a checking account as dormant after 12 months without a customer-initiated activity, such as a deposit or withdrawal at a branch or ATM or a written check. It says automatic transactions, including direct deposits, don't prevent dormancy unless state law says otherwise, and that normal monthly service fees continue during dormancy.
U.S. Bank says dormancy is defined by state law but generally starts after 12 months for checking and 24 for savings without client-initiated activity. Its examples of such activity are non-recurring deposits or withdrawals and replies to its inactivity letters. It charges a $5 monthly dormant account fee "unless excluded by account type or prohibited or restricted by state law." Where the state allows, it may also deduct the cost of escheat due diligence, such as certified mail, from the balance.
Bank of America says that, in deciding whether an account is abandoned, automatic deposits and withdrawals are "usually not considered activities." Before that point it may place the account in inactive status, and then, unless the law prohibits it, it may keep charging monthly maintenance fees, stop sending statements and stop paying interest.
Chase labels an account inactive at 24 months and dormant at 30. A dormant account can't be used for debit card purchases, transfers or online access.

Illustrative example. A forgotten account holding $300 with a $12 monthly fee and no waiver would reach zero in 300 ÷ 12 = 25 months, before a three-year state dormancy period such as California's would send the money to the state. At U.S. Bank, the $12 fee plus the $5 dormant fee from month 13 would empty it after about 22 months.

The state's clock varies. The National Association of Unclaimed Property Administrators lists a three-year dormancy period for checking and savings in California, for example. Once funds go to the state, the bank is no longer liable for them, and you claim them from the state program. Searching through official state programs is free.

Fees 4 and 5: stops and levies

Stop-payment orders

A stop-payment order, which tells your bank not to pay a specific check or electronic debit, costs $30 at Chase with a banker ($25 online or by automated phone), $30 at Bank of America and Wells Fargo, and $35 at U.S. Bank. Bank of America charges nothing to stop a debit card or Bill Pay transaction.

To end a recurring charge, the CFPB's guidance starts elsewhere. Tell the company you're revoking its permission, tell your bank the same, and confirm both in writing. The CFPB notes that banks "generally charge fees for stop payment orders." Under Regulation E, 12 CFR 1005.10(c), a bank must honor an oral or written stop-payment order on a recurring electronic debit made at least three business days before the scheduled date. It may require written confirmation within 14 days, and an oral order lapses after 14 days if that confirmation isn't sent. The rule covers preauthorized electronic transfers, not paper checks.

Legal-process fees

When a creditor or tax authority serves a garnishment or levy on your account, the bank charges you for handling it. Chase lists up to $100 per order "whether or not the funds are actually paid." U.S. Bank charges $100. Wells Fargo charges $125 per legal process, up to $250 per account per calendar month. Bank of America's agreement lets it charge any cost it incurs, which can include attorneys' fees, and deduct them without prior notice.

Federal benefits have a carve-out. Under 31 CFR 212.6, a bank that receives a garnishment order must leave you full access to a "protected amount" and can't charge a garnishment fee against it. Section 212.3 defines that amount as the benefits from Social Security, VA, OPM or the Railroad Retirement Board that were directly deposited during the previous two months, or the account balance if that is lower. The ban covers only the protected amount: under section 212.6(h), the bank can still collect the fee from non-benefit money deposited within five business days after its review, up to the amount of that money. The protection doesn't apply when the order comes from the United States or a state child support agency with the federal notice attached, as section 212.4 sets out.

Frequently asked questions

Can a bank add a new fee after I open the account?

Yes, but only with notice. If a change could cost you more, such as a new fee or a higher waiver threshold, Regulation DD requires the bank to notify you at least 30 calendar days before it takes effect, and the notice must state the effective date. Changes to check-printing fees are exempt from that notice.

Can a "free checking" account still charge fees?

Yes. The Regulation DD advertising rules bar the word "free" only when a maintenance or activity fee may apply, such as a monthly fee or a minimum-balance fee. Stop-payment fees, dormant-account fees, balance-inquiry fees, check printing and ATM fees that aren't required to get the account can all still be charged on an account advertised as free.

How do I get the full fee schedule before opening an account?

Ask for the account disclosures. A bank must provide them before an account is opened, online included; only for an account opened another way while you're not at the bank, such as by phone, can they follow within 10 business days. On request, a bank must send them within a reasonable time, which the official commentary treats as 10 business days. Most large banks also post the current schedule as a dated PDF.

Do these disclosure rules cover credit unions?

Not Regulation DD itself, which excludes credit unions. Federally insured credit unions follow a parallel Truth in Savings rule from the NCUA, 12 CFR Part 707. A credit union's fee schedule is still the document to read.

Where do overdraft fees show up on my statement?

Under 12 CFR 1030.11, a bank's periodic statement must show, where applicable, "Total Overdraft Fees" and the total for returned items, both for the statement period and for the calendar year to date. The CFPB's 2024 overdraft rule for very large banks never took effect, because Congress voided it in May 2025.

How to audit your own account

Download your bank's current fee schedule and account agreement, and note the "effective" date on each.
Find your account's waiver rule and check whether it uses a minimum, a start-of-day or an average balance. If it's a minimum, set a low-balance alert a little above the threshold.
Compare your actual deposits (payroll, app payouts, Zelle, mobile checks) with the bank's definition of a qualifying deposit.
Look for fee lines on your last three statements. Each one is itemized by type.
Use your bank's ATM locator and skip balance inquiries at other banks' ATMs.
List every account you hold. Make a customer-initiated deposit or withdrawal in any you don't use, at least once inside the bank's dormancy window, or close it. Then search your state's unclaimed property program.
Before paying for a stop-payment order, revoke the company's authorization directly. If benefit deposits are frozen by a garnishment, ask the bank about the protected amount.

This article is general information for educational purposes, not legal or financial advice. Your own account agreement and state law control the fees that apply to you.