What are the fees associated with my neobank account?

Neobanks typically simplify account fees. Here are the most common charges you might see:

• Monthly maintenance fee – Most personal accounts have no monthly fee. Some premium or business accounts may charge a small flat fee.
• ATM fees – In-network withdrawals are free. Out-of-network or international ATM use may incur a fee (often around $2-$5 per transaction).
• Foreign transaction fee – Many neobanks waive this entirely, while a few charge 1-3% on card purchases made abroad.
• Replacement card fee – A lost or stolen card replacement is usually free, but some banks may charge a small fee after the first few replacements.
• Inactivity fee – Rare among neobanks, but check your account terms if you intend to leave it dormant.

A core promise of the neobank fee structure is low-to-no transaction costs. Most neobanks do not charge for:

• Debit card purchases (domestic and often international)
• ACH transfers and direct deposit
• Peer-to-peer payments within the bank’s network
• Bill pay services

Some fees that may apply to certain account types:

• Wire transfers – Outgoing domestic wires sometimes carry a flat fee (e.g., $15), while incoming wires are usually free.
• Paper statement fee – A small charge (e.g., $2) if you opt out of electronic statements.
• Overdraft transfer fee – If you link an overdraft protection line, a fee may be assessed per transfer (commonly $5-$10).

Always refer to your account’s Deposit Account Agreement or the bank’s online fee schedule for the most current numbers.

Overdrafts and non-sufficient funds (NSF) charges are another area where neobanks often differ from traditional banks. Many neobanks either:

• Decline the transaction outright with no fee.
• Offer free overdraft coverage up to a certain dollar amount (e.g., $50-$100).
• Charge a flat overdraft fee (typically $25-$35 per item) if an overdraft is paid at the bank’s discretion.

NSF fees, applied when a transaction is returned unpaid, may mirror the overdraft fee. Some neobanks have eliminated these altogether. Check your bank’s specific overdraft services to know what to expect.

When comparing the neobank fee structure to a brick-and-mortar bank, the differences are clear:

This comparison illustrates why many people choose neobanks for their everyday banking needs. Your actual account fees will depend on the institution and the account type you hold.

Are there monthly maintenance fees?

No, the vast majority of neobank personal accounts carry no monthly maintenance fee. A few specialized or business accounts may have a fee, but standard checking and savings accounts are designed to be free of monthly charges.

What are the overdraft fees?

Overdraft fees vary by neobank. Some do not charge any fee when a transaction is declined due to insufficient funds. Others cover the overdraft and apply a flat fee—commonly between $25 and $35 per occurrence. A growing number of neobanks offer a fee-free overdraft buffer up to a set amount. Always confirm your bank’s overdraft policy in your account documents or fee schedule.