Ask about monthly fees before you commit

Most banks charge a monthly maintenance fee to keep a checking account open. This fee ranges from nothing to $15 a month depending on the bank and account type. Before you open an account, ask the bank directly what that fee is — do not assume it is free.

Some banks waive the fee if you keep a minimum balance, set up direct deposit, or maintain a certain number of debit card transactions each month. Ask what the conditions are. If you cannot meet them, the fee will cost you $60 to $180 per year, which adds up fast on a small balance.

Also ask whether the bank charges fees for things you might do regularly: overdrafts, using an out-of-network ATM, transferring money between accounts, or closing the account early. A bank with no monthly fee but a $35 overdraft charge might cost you more than one with a $5 monthly fee and no overdraft penalty.

Key Takeaways

  • Monthly maintenance fees range from $0 to $15 and often have conditions like minimum balance or direct deposit that you need to meet to avoid them.
  • Ask about overdraft fees, ATM fees, and transfer fees — these can cost $25 to $35 each and add up quickly if you use them.
  • Find out how the bank handles deposits: whether mobile check deposit exists, how long it takes for funds to clear, and whether there are limits on how many checks you can deposit at once.
  • Confirm the bank's customer service hours and whether you can reach someone by phone, chat, or email if something goes wrong with your account.
  • Ask whether the account comes with a debit card, how quickly it arrives, and whether you can use it at ATMs outside the bank's network.

Understand how deposits work and how long money takes to arrive

When you deposit a check or transfer money into your account, the bank does not always make it available right away. Ask the bank how long it takes for different types of deposits to clear. A check from another bank might take three to five business days. A transfer from another account at the same bank might be instant. Mobile check deposits — where you photograph a check with your phone — might take one to two business days.

This matters because if you deposit a check on Friday and try to spend the money on Saturday, the bank might decline the transaction or charge you an overdraft fee even though the money is on its way. Ask the bank what its funds availability policy is in writing, and ask whether there are limits — for example, some banks limit mobile check deposits to $5,000 per day or $25,000 per month.

Also ask what happens if you deposit a check that bounces. The bank will reverse the deposit and may charge you a fee. Know that fee upfront so you are not surprised.

Find out what ATM access costs you

If you use an ATM that does not belong to your bank, you will usually pay a fee — often $2 to $3 per withdrawal. Some banks charge their own customers a fee on top of that. Ask whether your bank charges a fee for out-of-network ATM use, and if so, how much.

Then ask how many ATMs your bank owns and whether they are near places you actually go — your home, your workplace, your grocery store. If the bank has only a few branches and you live far from all of them, you will end up paying out-of-network fees regularly. Some banks reimburse out-of-network fees if you meet certain conditions, like maintaining a high balance or setting up direct deposit. Ask whether yours does.

If ATM access is important to you, ask whether the bank is part of a shared branching network or surcharge-free ATM network. These are agreements between banks that let you use each other's ATMs without paying a fee. Knowing this before you open the account can save you hundreds of dollars a year.

Ask about overdraft protection and what it costs

An overdraft happens when you spend more money than you have in your account. The bank can either decline the transaction or pay it and charge you a fee. Ask the bank what its overdraft policy is: does it automatically cover overdrafts, or do you have to request overdraft protection?

If the bank covers overdrafts automatically, ask how much it charges per overdraft — this is usually $25 to $35 per transaction. If you overdraft twice in one day, you might be charged twice. Some banks also charge a daily fee if your account stays negative. Ask about that too.

Some banks offer overdraft protection that links your checking account to a savings account or credit line. If you overdraft, the bank automatically transfers money from the linked account to cover it. Ask whether this service is free or whether the bank charges a fee for each transfer. This can be cheaper than overdraft fees, but only if you have another account with money in it.

Confirm what customer service looks like and when you can reach someone

If something goes wrong with your account — a fraudulent charge, a missing deposit, a fee you do not understand — you will need to contact the bank. Ask what hours customer service is available and whether you can reach someone by phone, email, or online chat. Some banks have 24/7 phone support. Others have limited hours or only online chat.

Ask whether the bank has a physical branch near you where you can walk in and talk to someone in person. This matters if you need to deposit cash, get a cashier's check, or handle something complicated. Online-only banks have no branches, which can be fine if you rarely need in-person service, but it is worth knowing upfront.

Also ask what the bank's process is for disputing a charge or reporting fraud. How long does the investigation take? Will the bank refund your money while it investigates, or do you have to wait? The answer varies by bank and by the type of transaction.

Ask whether the account comes with a debit card and how quickly you get it

Most checking accounts come with a debit card that lets you spend money directly from your account at stores and online. Ask whether this account includes one. If it does, ask how long it takes to arrive after you open the account — this is usually 7 to 10 business days, but some banks are faster.

If you need a card right away, ask whether the bank can issue a temporary card number that works online while you wait for the physical card, or whether it can expedite the card for a fee. Also ask whether the debit card works at ATMs outside the bank's network and whether the bank charges a fee for that use.

Ask what happens if your card is lost or stolen. How quickly can the bank issue a replacement? Can you get a temporary card number in the meantime? These details matter if you rely on your debit card for everyday spending.

Understand the bank's policies on account closure and minimum balance

Ask whether the account has a minimum balance requirement — a set amount of money you must keep in the account at all times to avoid fees or account closure. Some accounts require $500, others require $5,000, and others have no minimum at all. If you cannot maintain the minimum, the bank may close your account or charge you a fee.

Also ask what happens if you want to close the account. Is there a fee for closing? How long does it take for the bank to send you any remaining balance? Can you close it online, or do you have to go to a branch or call? Some banks make closing easy. Others make it difficult or charge a fee. Knowing the policy before you open the account means you are not trapped if you need to switch banks later.

Frequently Asked Questions

Can I open a checking account if I have had banking problems in the past?

Some banks check your history with ChexSystems, a database that tracks closed accounts and overdrafts. If you have problems in your history, some banks will still open an account for you, but others will not. Ask the bank whether it uses ChexSystems and what its policy is for applicants with banking history issues. Second-chance checking accounts exist specifically for this situation.

What should I ask about online banking and mobile apps?

Ask whether the bank has a mobile app and whether it works on your phone. Ask whether you can transfer money between your own accounts, pay bills online, or deposit checks by photograph. Ask whether the app requires two-factor authentication and whether that is something you can manage. Some people prefer banks with simple apps; others need advanced features.

Do I need to keep a certain amount of money in the account to avoid fees?

Many banks waive monthly fees if you maintain a minimum balance — often $500 to $1,500. Ask what the minimum is for your specific account type. If you cannot keep that much money in the account, ask whether there are other ways to waive the fee, like setting up direct deposit or making a certain number of debit card transactions per month.

What happens if I make a mistake and deposit a check twice?

If you accidentally deposit the same check twice — once by mobile app and once at an ATM — the bank will eventually catch it and reverse one deposit. Ask what happens during that time: will the money be available to spend? Will you be charged an overdraft fee if you spend it before the reversal? The answer depends on the bank's policies.

Can I open an account online, or do I have to go to a branch?

Most banks let you open a checking account online without visiting a branch. Ask whether you can complete the entire process on the bank's website or app, and what documents you will need — usually a government ID and Social Security number. Ask how long it takes for the account to be active after you submit your information.