What a service charge or monthly maintenance fee means
A service charge or monthly maintenance fee is money the bank or credit union charges for the account itself. It is not a coffee, a subscription, or a refund. The name on the line changes by bank. The idea does not. You can ask them to remove a fee that already posted. They can say no.
Last updated: October 17, 2026
Last checked: Oct 2026
What the line is
People see SERVICE CHARGE, MONTHLY MAINTENANCE FEE, MONTHLY FEE, ACCOUNT FEE, or a package name next to a dollar amount. The Consumer Financial Protection Bureau says banks and credit unions are allowed to charge a monthly maintenance fee or service charge for a savings, checking, or money market account. They must show you this fee when you open the account. They cannot charge you a fee that is higher than the amount you were told. After the account is open, they can change the amount or the type of fee, and they must send you a written notice about the change. That CFPB page was last modified 13 September 2024.
The same page says many banks do not charge the fee if you keep a minimum balance, or if paycheques or benefit cheques are deposited directly. It also says you can ask about a low cost account, such as a senior or student account, or a basic checking account with a low minimum balance and a limited number of free cheques and withdrawals. Moving the money to a different bank that prints a lower fee, or no fee, is the other path the page names. This page does not invent a national average. The dollar on your line is the dollar that matters.
In Canada the same idea is often sold as a package. You pay a monthly fee, a set number of payments are included, and extra transactions cost more. The dollars named banks print are on monthly chequing account fees by bank. US everyday checking dollars are on monthly checking account fees by bank. How to read the rest of a US statement is on US bank fees. The Canadian package explanation is on Canadian bank fees.
How it differs from other fees
A monthly maintenance fee repeats because the account is open, not because you bought something. An NSF or returned item fee is a separate event when a payment does not clear. Those words are on NSF or insufficient funds fees and returned check fees. A paper statement fee is the charge for mail, when the bank prints one. That guide is paper statement fees. Interest on a card is not a maintenance fee. A store purchase is not a maintenance fee even if it happens every month.
Do not multiply one monthly fee by 12 and treat the result as a quote from the bank. It is arithmetic on the lines that printed. If the bank waived the fee in some months, those months are not in the total. If the package changed mid year, the old dollar and the new dollar are both real. Write the dates.
A minimum balance waiver and a fee already charged are different requests. Meeting the balance next month can stop the next fee. It does not, by itself, remove the fee that already posted. Ask about both, and keep them as two questions.
How to ask them to remove it
Call the number on the statement. Have the date, the printed name, and the amount. Ask what the fee was for, and ask whether the account met the waiver rule that month: direct deposit, minimum balance, student status, senior status, or a package you thought you had. Then ask them to review the fee or remove it. A short script is on how to ask your bank to refund a fee. The bank can say no. This page has no success rate.
If the answer is no, ask whether a different package on the same bank would stop the fee, and ask for the complaint steps. For many US consumer problems you can also send a complaint to the Consumer Financial Protection Bureau. In Canada, start with the bank, then the outside office the bank names. Laurentian Bank prints its own monthly amounts and waiver rules on how to waive the Laurentian Bank monthly fee. Use that page for Laurentian dollars. Use the fee by bank pages for the other names.
Upload the statement on Expenvo. The PDF stays on your device. Expenvo lists the lines so you can match a short name to a date and an amount. It does not call the bank, and it does not cancel a subscription.
Questions
- Is a service charge the same as a monthly maintenance fee?
- Banks use both names for the charge for keeping the account. Read the dollar and the date on your line. The CFPB treats a monthly maintenance fee and a service charge as that account fee.
- Can the bank raise the fee after I opened the account?
- The CFPB says the bank can change the amount or the type of fee after you open the account, and it must send a written notice about the change. It cannot charge more than the amount it told you.
- Does meeting a minimum balance remove a fee that already posted?
- A minimum balance or direct deposit can stop a future fee if that is the bank's rule. A fee that already posted is a separate request. The bank can say no.
Sources
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