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Understanding Hidden Fees in Your US Bank Statement

If you’ve been charged hidden fees by US Bank, you may be able to claim compensation.

US Bank is the fifth-largest bank in America, with a range of personal and business accounts. However, you might have multiple accounts with them and suddenly find unexpected fees that show up on your statement. What can you do next? 

Anytime you have unexpected fees, it’s good to look over the fine print of your account or contract to see if that fee is explainable. It might be something like a maintenance fee or an ATM fee that you just weren’t expecting. After that, you should always contact US Bank customer service, especially if you can’t figure out why it’s there. 

Credit Cards

US Bank has credit cards, some of which have annual fees. In addition to a potential annual fee, some of their credit cards might show additional fees like a late fee. A late fee is levied against your account when you don’t make your payment on time. Other unexpected fees might include interest fees for the remaining unpaid balance.

Checking & Savings Accounts

US Bank has three checking accounts and one type of savings account, each with potential fees:

Standard Savings

There is a $4 monthly maintenance fee, and savings accounts are subject to the same miscellaneous fees as ATM fees if you have a corresponding card.

Easy Checking

You might find a monthly maintenance fee of $6.95. There might also be fees for any non-US Bank ATM transactions. Any paper statements will cost $2, so if you recently requested one or haven’t signed up for online statements, you might see this cost added to your bill. 

Gold Checking Package

There might be a monthly maintenance fee unexpectedly on your checking account statement for $14.95. This package gives you two non-US bank freebies before it, too, charges you fees. Of course, it’s difficult for consumers to figure out what those fees might be because even the consumer pricing information on all checking accounts simply states that fees apply for non-US bank ATMs but don’t say anywhere in the fine print what they will be. The fees for non-US bank ATMs are listed under “miscellaneous checking or savings fees” and are noted as $2.50. 

Platinum Checking Package

You might see a checking account fee of $24.95 for your monthly maintenance fee. 

Other fees which apply to all accounts include things like an overdraft. If something goes through and you don’t have enough money to pay for it, you get an overdraft fee of $36 per item over a $5 value. The fees are limited to 4 overdraft fees per day which mean if enough transactions come through on the same day, you can expect to see $144 in hidden fees. 

If you have overdraft protection on any of these checking accounts linked to an eligible checking account or savings account, you still get charged a fee to transfer money to cover you. The Platinum checking package doesn’t have a fee, but the gold checking package will have a fee of $7.50, and the Easy checking package will have a fee of $12.50.

  • If you need any accounting research, it is $30 per hour. 
  • If there is a tax levy, child support, or garnishment against your account, it will cost you $100 per legal charge.
  • If your account is dormant, you get charged $5 per month.
  • If you need a photocopy of your statement, it’s $6.
  • If an item is returned or a cashed check is bounced, it’s $19 per item.
  • If you need a stop payment, it’s $35.
  • Wire transfers incoming for domestic is $20, and outgoing for domestic are $30. Incoming International wire transfers are $25, and outgoing International transfers are $50. 
  • Any check that you cash at a foreign location will cost you $45 in additional fees. 
  • If you need to exchange foreign currency, you can expect a $10 fee on top of a percentage.

What Can I Do If I Was Incorrectly Charged a Fee by US Bank?

If you were charged incorrectly by US Bank, reach out to their customer service department first. Customer service might be able to explain what an unexpected charge is for or reverse an incorrect fee. 

If they solve it but not to your liking, or not at all, you can file a complaint against US Bank

However, there are still times when customer service doesn’t resolve the issue to your satisfaction or is helpful. In these situations, you still have two legal options:

Firstly, you can sue US Bank in small claims court. Small claims court is something laid out in your user agreement. If you have the time and money to dedicate to going to court regularly in your local area, this might be a good option. Be advised that different states have limits in terms of how much compensation you can get, so your case might not qualify depending on what compensation you want.

Secondly, you can use legally binding consumer arbitration. Consumer arbitration is a legal alternative where you go before an arbitrator instead of a judge. It’s usually a faster way to get a resolution and a potentially easier way. 

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