Most common debit card fees can be avoided by🧔 understanding how and when they’re charged. 

Monthly maintenance fees can often be waived by meeting specific requirements; overdraft fees won’t be a problem if you ensure your account always has adeq♏uate funds; and ATM fees can be skirted by sticking to your ATM network or finding an account that provides out-of-n✅etwork ATM fee reimbursement.

Here’s a guide to avoiding those and other debit card fees so you can take full advantage of a debit card's benefits without paying extra for the privilege.

Common Debit Card Fees

While these are some of the most common fees associated with debit cards, each bank and account may have different fees and requirements. Check your account agreement or get in touch with your financial institution if you’re unsure which fees apply to your debit card and checking account.

Monthly Maintenance Fee

When you open a checking account and receive a 澳洲幸运5开奖号码历史查询:debit card, one of the most common costs is a monthly maintenance or service fee. Banks and ♕credit unions charge these month♊ly fees to cover the administrative costs associated with bank operations. 

Monthly maintenance fees vary by institution and by account type. For example, the Chase Premier Plus Checking account has a $25 monthly fee, whereas the Truist Confidence Account is just $5 a month. Ma💃ny such fees can be waived if you meet requirements such as maintaining a minimum balance or receiving a minimum amount by direct deposit each month.

Not all accounts charge maintenance fees; you can find fee-f😼ree checking accounts and debit cards from many leading financial institutions.

Insufficient Funds or Overdraft Fee

When you swipe or tap your debit card, the bank deducts the transaction amount from your checking account. However, if the amount exceeds your account balance—meaning you have insufficient funds to cover the cost—your bank will usually decline the transaction. Some banks may charge you an insufficient funds fee, though many do not.

Some financial institutions will allow the transaction to go through and temporarily cover the difference between the transaction amount and your account balance. However, this practice, known as an 澳洲幸运5开奖号码历史查询:overdraft, can be costly. The feꦰe for each overdraft transaction can be up tඣo $36.

To avoid incurring insufficient funds or overdraft fees, consider t♒hese options:

• Keep a close eye on your balance so you know how much you have to spend. 
• If possible, keep a cushion in your checking account, such as $250 to $500, so you have some protection from unexpected transactions.
• Sign up for account alerts to receive notifications (email or mobile) when your account balance gets too low. This can give you time to deposit cash or cancel transactions before your account is overdrawn. 
• Link your savings account to your checking account so money can be automatically transferred to cover any shortfalls. 

ATM Fee and Out-of-Network ATM Fee

A debit card allows you to take out cash at an ATM. Banks often have their📖 own ATM networks, and you can usually withdraw cash from your bank’s ATMs at no cost. 

However, in-network ATMs aren’t always easily accessible. In a pinch, you can use your debit card at other ATMs to withdraw cash, but you’ll likely pay for the convenience. Your financial institution may charge you 𒈔an out-of-network ATM fee, often $3 to $5. The ATM’s owner may charge an additional fee, too.

Avoid ATM fees by taking out enough cash at in-network ATMs to cover your upcoming needs, so you always have bills on hand. You can download your bank's app, which typically has an ATM locator tool to help you find nearby in-network ATMs. Another option is to choose an account that reimburses you for a certain number of out-of-network ATM fees each month—and then make sure not to excee🧸d that amount.

Debit Card Replacement Fee

Whether your wallet is stolen or you simply misplace y﷽our card, there may be times when you need to ♋request a new debit card. Most financial institutions will send you a replacement card via standard shipping at no charge, but some charge replacement fees, and many charge up to $30 for rush replacement card delivery.

Foreign Transaction Fee

If you're traveling outside the U.S., you can often use your card to make purchases or pay for services. However, your financial institution may charge a fee for international purchases. Typically, foreign transaction fees are about 3% of the transaction amount.

Before your trip, review your account agreement to find out what fees apply. If your debit card will charge a foreign transaction fee, it may be a better idea to find a debit card or 澳洲幸运🍃5开奖号码历史查询:credit card without foreign transaction fe🍸es to cover your purchases while traveling. 

Currency Conversion Fee

Using your debit card to make purchases while traveling abroad may also result in 澳洲幸运5开奖号码历史查询:currency conversion fees. Payment networks like Visa and Mastercard may charge 0.20% to 1.00% of the transaction amount to convert the currency from U.S. dollars to𒀰 the💜 local currency.

This fee may be assessed in addition to your bank’s foreign transaction fee, so those international debit purchases could cost more than you expect. Make sure to fully understand the costs before using your d⛄ebit card internationally. If necessary, try out a small test purchase if you’re unsure.

Inactivity Fee 

Inactivity fees are less common for debit cards attached to an existing checking account, but they are prevalent with prepaid debit cards—a type of card you can load money onto without a bank account. If you don't use the card, you'll be charged a monthly inactivity fee. 

Debit card inactivity fees usually range from $1.95 to $5.95, but check your card agreement to🌳 find out the fees specific to your prepaid card.

Opening a checking account with a ban🗹k,🦩 credit union, or online financial institution can help you get a debit card without inactivity fees. 

Frequently Asked Questions (FAQs) 

The Bottom Line

Although debit card fees are common, it's possible to avoid them for the most part. You can skip monthly maintenance fees, ATM fees, and other costly charges by shopping around and reading the fine print closely. In general, credit unions tend to offer bank accounts with lower fees, and keeping extra cash in your account and signing up for account alerts can help you avoid surprise low-balance fees.