Ditch One Monthly Bank Fee—Pocket Up to $300 in Under 20 Minutes

Monthly bank fees can feel invisible—until you realize you’ve lost over $150 a year just for holding onto your own money. With rising everyday costs, it’s time to say goodbye to at least one fee for good. Here’s how ditching just one bank’s monthly charge can save you real cash (and maybe get you a $300 bonus) in less time than an episode of your favorite show.

1. Find Your Hidden Monthly Fee

If you’ve got a checking account at a major bank, there’s a good chance you’re paying a “monthly maintenance fee.” Check last month’s statement: do you see a $10, $12, or $13.95 charge?

Bank of America, Chase, and others charge $12 if your balance drops below $1,500 or your direct deposits are too low. (Stilt)

• Log into your online banking or grab a paper statement.
• Look for any “maintenance” or “monthly” fees—they can total about $167 per year on average. That’s like handing over nearly two weeks’ worth of groceries for nothing. (SoFi)

Even $12 a month can add up fast—don’t ignore it!

Next step: once you spot the fee, get ready to take action.

2. Switch to a $0-Fee Bank (and Grab a Bonus)

Many banks offer checking accounts with no monthly fees, especially online banks. Plus, banks are competing for new customers and handing out cash bonuses for making the switch.

SoFi and Ally Bank offer $0 monthly fees—no minimum balance, no sneaky charges. (SoFi)

• Check out SoFi Checking & Savings—new customers can score up to $300 by setting up direct deposit by January 31, 2026.
• PNC’s Virtual Wallet is offering up to $400 for new accounts with qualifying deposits. (Slickdeals)
• You can literally earn $300 in minutes—just for moving your paycheck.

Set up your new account online—you’ll need your Social Security number and a government ID (like a driver’s license). This process usually takes less than 20 minutes.

Next: move your money and your direct deposit.

3. Make Your Old Fee Disappear in 3 Simple Steps

You’re almost done! Time to move your money and say goodbye to fees—forever.

Switching banks and getting a bonus can save you $150+ a year—and make you up to $300 right away. (Slickdeals)

1. Transfer your account balance from the old (fee-charging) bank to your new one.
2. Update your employer with your new account for direct deposit (that’s key to unlocking your bonus).
3. Once your checks or automatic payments clear, close the old account—don’t leave it hanging.

Many banks will waive the last fee if you ask when closing your account—always check.

Don’t stop here—share with a friend or family member who’s still paying random bank fees!

4. Don’t Fall Back Into the Fee Trap

Now that you’re saving (and earning), stay alert: many banks waive fees if you keep a minimum balance or set up direct deposit. If you do dip below, consider digital banks that never charge maintenance fees.

“Most big banks waive fees if you keep your account above $1,500 or use monthly direct deposit.” (Stilt)

• Set a calendar reminder to check next month’s statement for any new fees.
• Bookmark this move—repeat whenever banks change their policies (it happens often!).
• Protect your savings: $0 in fees means more money for you—every month, every year.

If you see a new fee pop up, use your new skills to cut it fast.

The bottom line? Ditching even one monthly bank fee could give you a $300 head start today and hundreds more through the year. Why wait?

Take your first step: compare $0-fee banks and claim your bonus now—you could finish before dinner!