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Banking isn’t always as simple as it looks. You open an account, set up direct deposit, and think you’re set. But banks have rules that can cost you money if you’re not careful. Some services are free at first, but after 60 days, the fees start. These charges can sneak up on you, especially if you’re not reading the fine print. Knowing which bank services start charging after just 60 days can help you avoid surprise fees and keep more money in your pocket. Here’s what you need to watch out for.
1. Inactive Account Fees
If you open a bank account and don’t use it for a while, you might get hit with an inactive account fee. Many banks give you a grace period—often 60 days—before they start charging. After that, if you haven’t made a deposit, withdrawal, or transfer, the bank may consider your account inactive. The fee can be a flat monthly charge or a percentage of your balance. It’s easy to forget about an account you opened for a bonus or as a backup. But if you leave it alone for too long, you’ll start losing money. To avoid this, set a reminder to make a small transaction every month or two. Even a $1 transfer can keep your account active and fee-free.
2. Paper Statement Fees
Banks want you to go paperless. That’s why many offer free paper statements for the first 60 days. After that, they start charging a monthly fee if you still get statements by mail. The fee might seem small—usually $2 to $5 per month—but it adds up over time. If you’re not careful, you could pay $60 a year just for paper. Switching to electronic statements is usually free and easy. You’ll get your statements by email or through your bank’s app. If you prefer paper, check if your bank offers any exceptions, like for seniors or students. Otherwise, go digital to avoid this unnecessary charge.
3. Overdraft Protection Transfers
Overdraft protection sounds helpful. It lets you link your checking account to a savings account or credit card. If you spend more than you have, the bank covers the difference by moving money from your linked account. Some banks offer this service for free at first, but after 60 days, they start charging a fee for each transfer. The fee can be $10 or more per transfer. If you’re not watching your balance, these charges can pile up fast. To avoid them, keep an eye on your account and set up low-balance alerts. If you rarely overdraw, you might want to turn off overdraft protection altogether. That way, your card will just be declined if you don’t have enough money, and you won’t get hit with a fee.
4. Safe Deposit Box Rental
Safe deposit boxes are a secure way to store valuables, but they’re not always free. Some banks offer a free or discounted rental for the first 60 days when you open a new account. After that, the regular rental fee kicks in. The cost depends on the size of the box and the bank, but it’s usually billed annually. If you don’t need the box long-term, make sure to empty it and cancel before the 60 days are up. Otherwise, you’ll be on the hook for the full year’s fee. If you’re just looking for a place to store documents or jewelry for a short time, ask about the exact terms before signing up.
5. Account Maintenance Fees
Some banks waive monthly maintenance fees for the first 60 days as a welcome perk. After that, you need to meet certain requirements to keep the account free. These might include keeping a minimum balance, setting up direct deposit, or making a certain number of transactions each month. If you don’t meet the requirements, the bank starts charging a maintenance fee—often $10 to $15 per month. These fees can eat into your savings if you’re not careful. Review your account terms and set up alerts to make sure you’re meeting the requirements. If you can’t, consider switching to a no-fee account or a credit union.
6. ATM Fee Reimbursements
Many banks offer free ATM fee reimbursements for the first 60 days after you open an account. This means they’ll refund fees charged by other banks’ ATMs. After the initial period, the reimbursements may stop or be limited. You could end up paying $3 to $5 every time you use an out-of-network ATM. If you travel or live in an area with few of your bank’s ATMs, these fees can add up quickly. To avoid them, use your bank’s ATM locator app or get cash back at stores when you make a purchase. Some online banks and credit unions offer ongoing ATM fee reimbursements, so shop around if this is important to you.
Stay Ahead of Sneaky Bank Fees
Bank fees can feel like a moving target. What’s free today might cost you tomorrow. The key is to read the fine print and set reminders for when introductory offers end. Don’t assume a service will stay free forever. Check your statements regularly and ask your bank about any fees that might start after 60 days. A little attention now can save you a lot of money later. Staying informed about which bank services start charging after just 60 days helps you keep more of your hard-earned cash.
What’s your experience with surprise bank fees? Share your story or tips in the comments below.
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Travis Campbell is a digital marketer/developer with over 10 years of experience and a writer for over 6 years. He holds a degree in E-commerce and likes to share life advice he’s learned over the years. Travis loves spending time on the golf course or at the gym when he’s not working.
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