Introduction

You’re sitting at your desk, looking at your bank statement, and there they are—charges you don’t recognize. Here are the 5 fees that are quietly draining your business account, and exactly how to stop paying them.

1. Monthly Maintenance Fees

These are almost always waivable. If you maintain a minimum balance, make a certain number of transactions, or link a savings account, the fee disappears. Call your bank today and ask: “What do I need to do to waive my monthly fee?”

2. Transaction Overages

You signed up for a plan with 200 free transactions per month. You made 220. Now you’re paying 50 cents per transaction over that’s $10 for something that costs the bank pennies. Upgrade your plan or switch to a flat-fee structure.

3. Wire Transfer Fees

Banks charge $25-$50 for outgoing wires, but ACH transfers are often free. Unless you need the speed of a wire, use ACH. For international, look into services like Wise or Revolut for better rates.

4. Stop Payment Fees

You write a check, it gets lost, you stop payment and get charged $25-$35. The alternative? Use a positive pay system—or better yet, stop using checks entirely. Use bill pay or ACH instead.

5. Foreign Transaction Fees

If you buy supplies from overseas or travel for business, your card might charge 3% on every purchase. Get a business credit card with no foreign transaction fees; it’s an easy fix.

Your Action Plan

• Check your last three bank statements for these fees
• Call your bank and negotiate
• Switch to fee-free alternatives where possible

Let me know in the comments: which fee surprised you the most?