What is a Maintenance Fee?

In 2018 alone, customers at the top 5 U.S. banks paid a whopping one billion dollars in maintenance fees.

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According to research from MyBankTracker.com(new tab), in 2018 alone, customers at the top 5 U.S. banks paid a whopping one billion dollars in maintenance fees. Yes, you read that correctly, one billion dollars. In fact, many banks charge these fees to merely hold an account. These charges are often hidden or hard to avoid and quickly add up over time. At N26, our goal is simple — empowering you to live your best financial life. One way we do that is through eliminating common banking fees, like maintenance fees, giving you full transparency into your account and your wallet.

What is a monthly maintenance fee?

A monthly maintenance fee is a charge by a financial institution to maintain the account if the customer fails to meet certain criteria. Basically, it’s a “cost of doing business” fee. For example, some banks require that you maintain a certain daily balance or they will charge you a fee at the end of the month.

How much are maintenance fees?

Typically, these fees can range anywhere from $3-$20 per month. Not all banks charge monthly fees, however they are common especially in the largest corporations.

Does N26 charge maintenance fees?

No. N26 does not charge maintenance fees. N26 also does not charge other common hidden bank fees, so you can enjoy banking without the unwelcome surprises.

How can you avoid maintenance fees?

We want to arm you with helpful tips to avoid running into any of these fees. Maintenance fees vary by institution, but the best advice we can give you for avoiding them is the following:

Open an account with no monthly fees. With many traditional banks charging maintenance fees, go with an account with no monthly service fees. With N26, you don’t have to worry about maintenance fees or any other common hidden bank fees(new tab), so you can hold on to more of your hard-earned cash. Do your research before you commit. Before opening an account, make sure you’ve done your homework. Check their fine print and read the FAQs on their website. Confirm if they charge any fees and what the amount is, and make sure the card is a financially responsible option for you. By doing your research up front, you can avoid unwanted charges later.

For more information on common banking fees check out our post on the “26 Common Hidden Bank Fees You Can’t Afford to Ignore(new tab)” and follow along with our blog(new tab) for more posts in our banking series.


Think banking can’t be fast, flexible, and transparent? Think again. Open an N26 account(new tab) directly from your phone and never worry again about hidden fees. Yes, really – no minimum account balance, no maintenance charges, no insufficient fund fees, no problem.

The N26 account is offered by Axos Bank®, Member FDIC. N26 Inc. is a service provider of Axos Bank. All deposit accounts of the same ownership and/or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546. All deposit accounts through Axos Bank brands are not separately insured by the FDIC from other deposit accounts held with the same ownership and/or vesting at Axos Bank. The N26 Visa® Debit Card is issued by Axos Bank pursuant to a license by Visa U.S.A. Inc. The N26 Visa Debit Card may be used everywhere Visa debit cards are accepted.

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