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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?


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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The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.