First, many banks took away free checking. Now, some are charging more for ATM withdrawals, stop-payments on checks and other services.
The encroaching fees on checking accounts come as the industry seeks ways to offset the impact of new regulations that limit key revenue sources.
Most notably, banks are bracing for a cap on the fees they can collect from merchants whenever customers swipe debit cards. Some banks estimate the Federal Reserve's proposed restriction could slash this income by as much as 70 percent, or about $14 billion a year, once it goes into effect this summer.
Banks are also prohibited from automatically enrolling customers in overdraft programs, which have been an increasingly rich source of penalty-fee income. To make up for the losses, banks are quietly raising or introducing new account fees. A sharp eye can help you avoid them.
Here are five ways to dodge fees on your checking account.
If you don't pay close attention to notices from your bank, you may not realize if there's been a change in the lineup of accounts and their features.
At Citi, for example, customers who maintained a minimum balance of $1,500 previously enjoyed free checking. Now customers who sign up for the most basic checking account have to make at least five transactions a month to get an $8 monthly fee waived.
Even if your bank hasn't changed its menu of options, keep your eyes peeled. The industry is still feeling out ways to adjust to the new regulations. Bank of America, for example, is testing checking accounts with fees ranging from $6 to $25 this month.
Don't be surprised if you see new charges for services that were once free, or hikes in existing fees.
Take, for example, a check you deposit that ends up bouncing. In the past, it may have caused a headache, but at least it didn't result in a penalty fee. But Bank of America recently started charging $12 for each deposited check that doesn't clear. Statements that include check images are no longer free either. They now cost $3.
Chase customers are looking at a spate of fee hikes starting Feb. 5. If a deposited check doesn't clear, it will cost $12, up from $10. A stop payment will cost $34, up from $32. Domestic wire transfers will cost $30, up from $25 and online wire transfers will be $25, up from $20.
A trip to the ATM could cost more if you're not careful.
To start, it might be better to print your statement at home. Bank of America now charges $3 if customers print an account summary at an ATM, up from $2. Chase next month will begin charging customers $1 to print recent account transactions.
And the cost of using another bank's ATM isn't getting any cheaper. Not only will your own bank ding you, but so will the ATM operator. The combined cost for getting cash was almost $4 on average, according to a Bankrate.com survey conducted in fall 2010. And some banks already have raised fees since that study came out.
One of the fastest ways to rack up fees is by overdrawing your account. Now, you can prevent that costly mistake by turning off the ability to do so. This wasn't an option before last July, when it was the industry standard to automatically enroll customers in overdraft programs - often with no way to opt out.
Now that customers must be given a choice, banks are touting lower penalty fees to entice enrollment. But keep in mind that fees are still as high as $39 per bounced check.
If you're still not satisfied with your checking account, shop for a new place to park your cash. Free checking is still widely available; 65 percent of checking accounts last year were free, according to Bankrate.com.
When factoring in accounts that offer fee waivers, that number rose to 88 percent.