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Checking account annual cost

What does this account cost each year, including the balance needed to waive fees?

Your inputs

Your inputs

$
Enter the account’s monthly fee in dollars before any waiver. A blank field is not treated as zero.
visits
Count visits that incur the net fee above in one year. Enter 0 if none of your ATM visits incur a fee.
Advanced settings8 inputs
months
Enter how many months out of 12 actually qualify for a fee waiver. Do not count months you only hope will qualify.
$
Include bank and ATM operator fees after refunds you have confirmed. Enter only the fee, not the cash withdrawn.
$
Add actual fees for the transfers you expect in a year. Do not enter the amounts transferred or fees already counted elsewhere.
$
Add other known account fees for one year. Do not duplicate monthly, ATM or transfer fees entered above.
$
Enter only money held to qualify for a fee waiver that could otherwise go to the alternative account. Exclude funds you already need for routine payments.

Default 0: excluded from this estimate; enter your actual amount. Zero does not confirm that there is no tax or cost.

days
Enter this separately from waived months. For example, retaining the extra funds for half a year is approximately 182 days.
%
Enter the actual APY on these funds in checking. Enter 0 if they do not earn interest.
%
Pretax interest on the same funds over the same holding period. Enter 4 for 4%. This is a rate assumption, not a guarantee.

Your result

Example · Estimate

Annual fees plus balance opportunity cost

$144.00

Per year · direct fees and foregone interest are different

Direct fees of $144.00 plus $0.00 in foregone interest produce an annual economic cost of $144.00. Opportunity cost is not a bank charge.

Entered costs apply

Key figures

Annual monthly fees
$144.00
Total ATM fees
$0.00
Total direct fees
$144.00

Result analysis

Direct fees and opportunity cost of an extra retained balance
Annual monthly fees
$144.00
Total ATM fees
$0.00
Annual transfer fees
$0.00
Other annual fees
$0.00
Foregone interest on retained balance
$0.00
Show calculation details
Annual monthly fees
$144.00
Total ATM fees
$0.00
Total direct fees
$144.00
Foregone interest on retained balance
$0.00
Interest on retained balance
$0.00
Alternative interest on same balance
$0.00
Fee-waiver savings
$0.00
Annual transfer fees
$0.00
Other annual fees
$0.00

Calculation basisFormula, assumptions & scope

Monthly fee × (12 − fee-waived months) + net ATM fee × visits + transfer fees + other fees + alternative interest on extra retained funds − interest earned on those funds.

  • Fee-waived months must meet actual account conditions. The net ATM fee already deducts refunds you have confirmed.
  • Only entered costs are totaled. This does not establish that an account has no other fees.
  • Opportunity cost is not a bank charge. Only extra funds retained for account conditions are counted for the entered days, not every routine balance.
  • Opportunity cost may be negative when interest on the retained funds exceeds the alternative. APYs are fixed assumptions; amounts are pretax.

Model scope: compare your actual terms or quotes; advertised rates are not your personal costs

Inputs used for this calculation
How should fee waivers be evaluated?
Enter waived months myself
Listed monthly fee
12 USD
Fee-waived months per year
0 months
Net fee per paid ATM visit
3 USD
Paid ATM visits per year
0 visits
Total annual transfer fees
0 USD
Other known annual fees
0 USD
How to apply manually entered fee-free months
Charge all twelve months
Extra balance retained for account conditions
0 USD
Days per year that extra balance is retained
365 days
APY earned on the retained balance
0 %
Alternative savings APY
4 %