January Bank Fees Are Coming: What to Check After Christmas

January Bank Fees Are Coming: What to Check in Your Account After Christmas

TL;DR Summary

• After Christmas, many people finally look at balances—while bank notices sent in late December often go unread.
• This is not about predicting “new fees.” It’s about checking common fee triggers that can hit in January if you don’t meet account requirements.
• Focus on maintenance fees, overdraft settings, minimum balance rules, and promotions that may expire at year-end.

The day after holiday spending settles, a lot of people do the same thing: open their banking app and finally look at what’s left. That’s also when “money leaving automatically” feels most frustrating—especially if it’s a fee you didn’t expect.

Banks typically disclose fee schedules and account terms, but late December is a time when many customers barely read email. So the practical move after Christmas isn’t assuming anything is changing—it’s simply making sure your account still meets the rules that prevent fees.

Below is a quick, realistic checklist to run after Christmas so you’re not surprised by maintenance fees, overdraft charges, or expired promotional terms in January.

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1) Maintenance Fees: Are You Still Meeting the Waiver Rules?

Many checking accounts are “free” only if you meet certain conditions. If you don’t, a monthly maintenance fee can post automatically. After Christmas, check whether you still meet the waiver rules your bank lists in the account disclosures.

• Direct deposit requirement: Some accounts waive fees only with qualifying direct deposits.
• Minimum balance requirement: This can be a daily minimum or an average monthly balance.
• Monthly activity requirement: Certain accounts waive fees only if you complete a specific number of transactions.

Action step: In your online banking portal, look for “Fee schedule,” “Account disclosures,” or “Pricing.” Confirm what requirement applies to your exact account type.

2) Overdraft Settings: What Did You Actually Opt Into?

Overdraft fees aren’t just about spending too much—they’re often about settings. Some banks allow customers to opt in to certain overdraft coverage types (especially for debit-card and ATM transactions).

• Overdraft coverage enrollment: Confirm whether you are opted in and what transactions it applies to.
• Grace amounts: Some accounts offer a small buffer; others do not.
• Linked account transfers: See if your bank offers transfers from savings to avoid overdrafts (fees may still apply).

Action step: Search your banking app for “Overdraft,” “Coverage,” or “Account settings.” If you’re unsure, message support and ask: “What overdraft coverage is currently enabled on my checking account?”

3) Minimum Balance Rules: Holiday Spending Can Break the Math

Holiday spending can drop balances below thresholds that matter for fee waivers. This is especially common when your account uses average daily balance rules, because a few low-balance days can affect the month’s average.

• Daily minimum: You must stay above a number each day.
• Average daily balance: Your month’s average must stay above a number.
• “Relationship” benefits: Some banks waive fees if you also hold a savings account, credit card, or loan with them.

Action step: Check your balance history view. If your account waives fees based on averages, the last week of December can matter.

4) Promo Expirations: Is Your “Free” Account Still Free?

A lot of accounts are opened with promotional terms—fee waivers, bonus eligibility, or special ATM reimbursements. Promotions typically include conditions and an expiration timeline.

• Intro fee waivers: The account may have been free for a set number of months.
• ATM fee reimbursements: Some banks reimburse out-of-network fees only up to a cap, or only during a promo period.
• Bonus terms: If you opened an account for a bonus, check whether ongoing requirements still apply.

Action step: Search your email for your bank’s name + “bonus,” “promotion,” “disclosure,” or “fee schedule.” If you can’t find it, check the “Documents” section in online banking.

5) “Small” Fees That Add Up in January

Even if your account has no maintenance fee, other charges can still appear. Common ones include:

• Out-of-network ATM fees (and separate operator surcharges)
• Paper statement fees
• Wire transfer fees
• Foreign transaction fees on debit cards (relevant for winter travel)

Action step: Find your bank’s fee schedule and skim it once. It’s usually a one-page PDF or a short disclosure link—easy to miss, easy to review.

A Simple After-Christmas Bank Fee Checklist

• Confirm whether your checking account has a maintenance fee and how it’s waived.
• Check overdraft settings and whether a grace amount exists.
• Verify minimum balance rules (daily vs. average).
• Look for promos expiring at year-end (fee waivers, ATM reimbursements, bonus rules).
• Skim the fee schedule for “small” charges that show up in January.

Quick Q&A

• Q: Does this mean my bank is definitely adding fees in January?
  A: Not necessarily. This checklist is about confirming your current account terms and whether you still meet fee-waiver requirements.
• Q: If a fee posts in January, can it be reversed?
  A: Policies vary. Some banks may reverse a fee as a courtesy, especially if it’s a first-time issue—others may not.
• Q: What’s the fastest way to spot a fee schedule?
  A: Many banks keep it in the “Documents,” “Disclosures,” or “Account Services” section of online banking, or linked from checking account pricing pages.

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Trusted Sources and References

• Consumer Financial Protection Bureau (CFPB): Information on bank account fees and overdraft practices
• Federal Deposit Insurance Corporation (FDIC): Consumer resources on deposit accounts and disclosures
• Office of the Comptroller of the Currency (OCC): Consumer guidance on bank products and terms

Disclaimer: This article is for general information only and is not financial, tax, or legal advice. Bank policies and fee schedules vary by institution and can change. Readers should review official disclosures for their specific account.