Hidden Fees: Depositing a Cheque Just Became More Costly — Other Banks May Be Charging Extra Fees Too

Banking is an expensive industry, which compels financial institutions to often bump fees and roll out new charges, passing some costs onto customers to retain or improve margins and cover rising operational costs.

For instance, Chase Bank users will now be paying $40 (£29.85) as a monthly 'service fee' instead of $30 (£22.39). Wells Fargo also raised its monthly service fee by $5 (£3.73) in late November 2025.

More recently, Truist Bank customers were slapped with a more costly 'remote' fee this year to deposit cash using cheques. Truist Bank increased its fee for cheques drawn on an account that are deposited electronically using a remote deposit capture service rather than at a physical branch.

Business clients who scan cheques using a desktop scanner or mobile tools will pay a higher charge, rising to $0.23 (£0.17) in 2026 from $0.20 (£0.15) last year. Those making deposits using a mobile app will now pay $0.25 (£0.19) per transaction, up from $0.23 (£0.17) in 2025.

'Truist Bank has completed an annual review of treasury and payments services, digital banking, and deposit services pricing. As a result of this review, starting on January 1, 2026, certain fees will be changing,' the company noted in a document detailing the changes.

Truist Banking Fees You Should Know

Although standard mobile deposits remain free for the majority of personal accounts, other unavoidable costs remain.

Americans banking with Truist must be aware of several types of fees they are charged regularly. The monthly maintenance fee for the Truist One Checking account stood at $12 (£8.95), but it applies to customers who fail to meet specific requirements, like receiving $500 (£373) in monthly direct deposits or being under the age of 25.

People who have a Truist Marquee Checking Account face a significant $35 (£26.12) monthly maintenance fee. Meanwhile, Truist One Money Market Account holders could be slapped with a fee of up to $15 (£11.19) for withdrawals beyond the monthly limit of six.

How to Avoid Surcharges When Withdrawing Money?

If you plan to avoid the different types of charges related to withdrawing money from a bank, you can choose a bank with a large ATM network that offers free access to their ATMs, such as Capital One, which has over 70,000 ATMs. Even Citibank, Discover Bank, and PNC Bank have over 60,000 ATMs.

You could also handpick a debit card that earns you cash back when you check out at eligible retailers using that debit card. Some banks even reimburse ATM surcharges imposed by other banks when you use their ATMs.

Last year, new legislation struck down a rule that would have limited bank overdraft fees to $5 (£3.73) per transaction, allowing banks to continue charging the average $35 (£26.12) per transaction, which the Consumer Financial Protection Bureau (CFPB) estimates costs American consumers $5 billion (£3.73 billion) annually. The reversal, backed by banking industry groups and Congressional Republicans, will take a toll on clients of banks like Chase and Bank of America.

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