Checking Account Fees Are Creeping Back in 2026

Analysis — Checking account fees are increasing in 2026 as banks seek to recoup costs amid economic pressures. Major institutions like Bank of America and Wells Fargo have begun raising monthly maintenance fees, adding new charges for out-of-network ATM withdrawals, and reintroducing overdraft fees, affecting millions of American consumers.

Bank of America Leads with Fee Increase

Bank of America has announced a $2 hike in monthly maintenance fees, bringing the total to $14 per month starting September 2026. This increase affects standard checking accounts with balances below $1,500. Customers who fail to meet the minimum balance requirement will pay $168 annually. The bank cited increased operational costs as the reason, but customer advocacy groups argue that this disproportionately affects low-income households.

Wells Fargo Reinstitutes Overdraft Fees

Wells Fargo has reintroduced a $35 overdraft fee, which had been temporarily suspended during the pandemic. This move marks a significant shift, as many banks continue to reduce or eliminate such fees. Critics suggest that the bank is prioritizing profit over customer welfare. This change is part of a broader trend of banks seeking new revenue streams, following a challenging financial year.

Chase's ATM Withdrawal Charges

Chase Bank is now charging $3.50 for out-of-network ATM withdrawals, up from $2.50. This increase affects both domestic and international transactions. The change, effective August 2026, is expected to generate substantial revenue for Chase but adds a burden on customers who rely on convenient cash access. For those frequently using ATMs outside the Chase network, costs can quickly add up.

Comparing Major Bank Fees in 2026

Regional Banks Offer Competitive Rates

Regional banks are capitalizing on the public's frustration with large national banks by maintaining lower fees. For instance, First Midwest Bank charges a modest $6 monthly maintenance fee and $2 for out-of-network ATM usage. Avoiding larger banks' fees can be one way consumers manage costs. Budgeting tools, such as the velmato budgeting app, can help track these expenses efficiently.

Online Banks Minimize Charges

Online banks like Ally and Chime have emerged as viable alternatives, often offering zero-fee checking accounts. Chime, for example, charges no monthly maintenance or overdraft fees and refunds fees for ATM withdrawals. These digital banks leverage lower overhead costs to offer competitive terms to customers. Understanding these differences can be essential when choosing a bank, as outlined in our guide to choosing a budgeting app.

Transparency in Fee Disclosures

Consumers have reported that hidden fees are becoming more common as banks introduce new charges without clear communication. The importance of reading the fine print, explained in our glossary, is more critical than ever. Fee disclosures must be transparent and written in plain language, yet many banks still obscure details in complex documents.

Consumer Advocacy and Banking Policies

Consumer advocacy groups are calling for greater transparency and regulation of bank fees. The Consumer Financial Protection Bureau (CFPB) is monitoring the situation, considering stricter guidelines on fee disclosures. Banks argue that these fees cover essential services and maintain profitability in a challenging financial landscape. The balance between transparency and profitability remains a hot topic.

Budgeting Apps to the Rescue

With rising banking fees, budgeting apps are becoming essential tools for consumers. Apps like quenzio — covered in our quenzio review — and others offer features to track spending and alert users to bank fees. The ability to see a comprehensive view of one's finances can help mitigate the impact of these increasing charges.