How to Get Bank Monthly Fees Refunded Easily

Many banks charge a monthly fee for carrying a less than the minimum balance they would like to see. It applies to checking and savings accounts, although the terms may be different. While you may think this is non-negotiable, look out for big banks, the private sector has a new tool. The DoNotPay app may just be able to help you.

The app connects to your bank and appeals its monthly fee. While the amount may not seem like a lot each month, tally your savings in one year, and you could save a lot. And that is not the only bank fees DoNotPay can save you.

Why Do Banks Charge a Monthly Fee?

Banks are in business to make money. While they may offer special perks to entice customers, they also add monthly maintenance fees to pay for those rewards and cover other costs. Different banks have different charges, but in general you are looking at normal monthly service charges between $6.95 and $12 per month.

What are some perks?

• No charge for ATM use outside that bank's system
• Overdraft coverage protection
• Cashback for a certain amount of spending

How Can You Avoid Monthly Maintenance Fees?

You can avoid paying monthly fees from your bank by doing the following:

1. Maintaining a minimum daily balance.
2. Having a recurring direct deposit.
3. Using your debit card, set a minimal number of times each month.
4. Negotiate with your bank to refund fees.

If it’s hard for you to do these, you can always ask DoNotPay for help.

How to Negotiate Your Bank Monthly Maintenance Fee on Your Own

There are a few tactics you can try on your own to rid yourself of monthly maintenance fees. Of course, the simplest thing you can try is keep your monthly balance at the minimum required to avoid the fee. But here are a few other methods to try.

Sit Down With a Bank Representative and Plead Your Case

You could call on the phone, but sometimes a face-to-face meeting works better, especially in smaller branches. Be polite and don't argue.

Simply explain that you feel your history as a customer should be rewarded by no monthly fees charged. Long-term customers are hard to come by. If you or your family have more than one account, be sure to point that out as well.

Ask to Speak With a Supervisor

If your first attempt fails, ask the representative if you can speak with their supervisor. Sometimes just the request may get action. If not, reiterate your case to someone higher in command.

Ask if They Offer Another Account Without Fees

Perhaps there is an alternate account that offers free checking. Is there an account that offers special treatment for students or seniors? It doesn't hurt to ask.

Politely Threaten to Switch Banks

Tell the supervisor that you have enjoyed working with their bank, but if they are unwilling to alleviate your monthly burden of fees, you will have to look for a bank that offers the same type of account without monthly fees or overdraft fees.

All of this takes extra time you may not have or want to spend. Especially since going in person must be done, well, during banking hours. You may find the individual you need to speak with is unavailable at the time you go. You can then ask if you can set up an appointment, taking even more time.

Use DoNotPay to Negotiate Your Bank Monthly Maintenance Fee

For some of us, pleading our case can be stressful as well as time-consuming. DoNotPay offers a way to negotiate your bank fees with no stress and truly little time.

Follow these four easy steps to negotiate your fees:

1. Open the DoNotPay Fight Bank Fees product.
2. Enter the name of your bank.
3. Verify the last 4 digits of your bank account.
4. Choose which fees you want to waive, including overdraft, ATM, and transaction fees.

You can do this on your own schedule and accomplish something else while DoNotPay works toward your fee reduction or elimination.

What Other Banking Disputes Can DoNotPay Handle for You?

DoNotPay will deal with any bank across the country for checking and savings accounts. A sampling of issues the app will tackle includes:

DoNotPay Does a Lot More Than Deal With Your Bank

As the name implies, DoNotPay can save you money in many ways. Beyond the banking world, it can:

• Get you chargebacks and refunds
• Find unclaimed money
• Get cash back for a gift card

But DoNotPay handles many more issues with life in general as well. Some examples include:

• Filing a lawsuit in small claims court
• Write a revocable living trust
• Filing an insurance claim

Here's a thought. First enlist DoNotPay's help with bank fees and while the app is working on that, browse through the multitude of other tasks the app can take care of for you. You will be glad you did.