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We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.

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I opened a "free" checking account but there are fees charged on my account. Can my bank/credit union do that?

Answer:

If an account is described as “free” or “no cost,” it cannot have any monthly service fees, fees for exceeding a specified number of transactions, or any fees to deposit, withdraw, or transfer money. 

A “free” or “no cost” account also means that the bank or credit union cannot charge you a fee for not meeting a minimum balance.

However, a “free” account may still have certain fees such as ATM fees, overdraft fees, bounced check fees, balance inquiry fees, fees to stop payment on a check, fees on a dormant account, or check-printing fees.

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