50 Ways Banks Are Earning From You Through Bank Fees

Here are 50 ways banks are earning from you through bank fees, penalties or charges.

This list is not to condemn banks. We need banks.

This is just to make you aware there are a lot of bank fees and what these fees are, so you can be smart about them.

These bank fees are not only charged in the Philippines — most of these fees are also charged by banks in other countries.


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Here are 50 Ways You’re Making the Banks Richer with Bank Fees:


1. Below-maintaining-balance fee
This is among the most common fees charged by banks, based on complaints online. One OFW wrote to this blog, saying she was charged 300 pesos for 15 months for a total of 4,500. She did not know that the minimum Monthly Average Daily Balance (MADB) or maintaining balance was increased.

2. Dormancy fee
This is common among OFWs who are too busy with their work abroad they forget to remit to their accounts. A savings account becomes dormant if there’s no deposit or withdrawal within 2 years. The time frame for a checking account is only one year.

3.  Interregional-branch over-the-counter deposit fee
It’s great to say that BPI, BPI Family, Union Bank, EastWest Bank, Sterling Bank of Asia and some big RCBC branches do not impose this fee.  This is one of the reasons why many online sellers use BPI accounts for collecting payments from their customers. Their customers will not have to pay deposit fees.

4.  Fee for exceeding maximum number of monthly withdrawals for special accounts
This is usually imposed on higher-interest accounts.

5.  Lost passbook replacement fee

6.  Dollar withdrawal fee (withdrawing more than maximum amount)
7.  Dollar deposit fee (depositing more than maximum amount)

8.  Early account closure fee
Fee for closing your account within one month from opening date

9.  Bank statement or certification fee  


10.  Another-bank’s ATM withdrawal fee
This is perhaps the most common fees charged by banks, and the most ignored by cardholders (“15 pesos lang naman…”).

11.  Another-bank’s ATM balance-inquiry fee

12.  Same-bank ATM withdrawal fee for special accounts

13.  Over-the-counter withdrawal fee for ATM accounts
       Banks say your ATM account is ATM-based, so you should use only the ATM for withdrawals.
Your withdrawal should be free if the machine is out of order, or if you need more than the daily maximum ATM withdrawal amount.

14.  ATM card or debit card replacement fee

15.  Overseas ATM  withdrawal fee
       This usually costs US$3.50 per ATM withdrawal. Some ATMs abroad also charge their own fees.

16.  Overseas ATM balance inquiry fee
       This usually costs US$1.00.

17.  Overseas ATM withdrawal rejection fee
These fees for overseas withdrawals are in addition to fees charged by some ATMs abroad for foreign-issued ATMs.

18.  Fee for exceeding maximum number of ATM withdrawals (for special debit cards)
Usually, you are limited to 2 to 4 free ATM withdrawals a month.

19.  Funds transfer to another local bank

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20.  Foreign-issued ATM card fee


21.  Cash card or prepaid card over-the-counter deposit fee

22.  Cash card inactivity fee
Fee for not doing any transaction for more than 12 months

23.  Same-bank cash card ATM withdrawal fee

24.  Another-bank cash card ATM withdrawal fee

25.  Cash card replacement fee

26.  Visa or Mastercard prepaid card annual fee
This is charged for Visa or Mastercard prepaid cards not linked to a savings account.


27.  Fee for inward remittance from overseas
Nagbayad ka na sa remittance company sa abroad, may bayad pa sa bangko? Yes!
In some cases, banks get their remittance fee through their foreign exchange conversion rate.

28.  Fee for outward remittance to overseas

29.  Correspondent bank fee for outward remittance to overseas

30.  Intermediary bank fee for inward remittance to another local bank

31.  Fee for outward funds transfer to another local bank

32.  Fee for incoming funds transfer from another local bank

33.  Fee for funds transfer using debit/credit memo over-the-counter


34.  Returned check fee
This could range from 2,000 to 2,500 pesos

35.  Stop payment order (SPO) fee
SPO application fee is usually 200 pesos per check.
Plus 2,000 pesos for the process of stopping to fund the check
(this is charged whether funds are sufficient or not)

36.  Fee for depositing a dollar check that was later returned

37.  Check retrieval fee

38.  Over-the-counter check encashment
(Isn’t this free? It has always been, but now some banks want you to deposit the check, not encash over the counter.)

39.  New checkbook fee


40.  Late payment fee
       If your due date is a holiday, Saturday or Sunday, pay before your due date.  
       If you’re paying by check, pay several days before to allow for the 3-day to 7-day check clearing period.

41.  Over credit-limit fee
You spent more than your available credit limit.
(Why don’t the banks decline the card usage? Well, you might sue them for embarrassment or for loss of business opportunity, so they might as well allow you to go over your limit, and just charge you a fee. Isn’t that clever?)

42.  Annual fee

43.  Fee for making multiple payments per month
Fee for making more than 2 or 3 payments to your credit card within a month
Pinapagod mo raw kasi yong teller nila or yong system nila 🙂
Bakit daw hindi ka minsanan lang magbayad? Huh!

44.  ATM cash advance service fee

45.  Over-the-counter cash advance fee

46.  Foreign transaction service fee

47.  Returned check fee (if you used an unfunded check to pay )

48.  Sales slip retrieval fee

49.  Credit card replacement fee

50.  Installment pretermination fee

. Foreign banks usually do not impose maintaining balance requirements for each account. What they use is Total Relationship Balance (TRB), the overall total of the balances of all your bank and investment accounts with them.

. The 50 bank fees above are not the only bank fees charged. There are other bank fees.

Related Posts:
What is Maintaining Balance or Monthly Average Daily Balance (MADB)?
Tips for New Checking Account Owners
Below-Maintaining-Balance Penalties for BDO Kabayan Accounts


Add a Comment
  1. Hi! can i share this in my FB?

  2. Hi Fredderick, yes, please, please share it. Thank you very much! I hope to see your FB.

    1. Just want to say Kudos on your article! Lots of great information.
      I did not realize the numerous fees that can be levied to a account holder. Excessive dollar deposit or withdrawal garnishes a fee..I have to give that guy who though that up a star for greed. My biggest grip here with the banks is their set limitation of withdrawal of 10k for overseas cards and fee of 250 pesos. Which makes it very inconvenient to pay rent and bills.

  3. There are so many ways for a bank to earn money then why are so many of them getting bankrupt.

    1. Hi Bigwas, that's true. In the Philippines, most of the banks that failed were rural banks, and the major reason was either loan mismanagement or owners/managers' fund diversion. The last 2 commercial banks that failed, Urban Bank in 2000 and Export & Industry Bank (EIB) in 2012, were mainly due to bad investments. EIB acquired failed Urban Bank in 2001.

  4. Hi,

    Hope you can update the list of remittance companies accepting remittances from Indonesia to Phils..a new Landbank partner, PT Prima Expres Remit.

    Thank you.


  5. Hi gmsausa@yahoo.com, thanks a lot for your tip. I've researched the address and added PT Prima: Send Money from Indonesia to the Philippines

  6. This is very informative Ms. Nora. I've read all your post and it makes me wonder why I haven't seen this before. I'll share this to my friends so that it'll gain more attention.

  7. San po my palitaan ng viet nam at magkano po

  8. No doubt banks earn from us but it is necessary after all the professionals in the bank are one of our friends, or one of our countryman.

    1. HUH?????? so your point is?

  9. Banks needed these fees to earn money. Banking is business and like any other business, It need to have a profit…

    1. Yes, that is true, but you don't realize that a majority of their "Profit" are generated by their Commercial Accounts. You really think that the bottom line is driven by private consumers?
      Being an outsider, I find that your banks charge you at a drop of a hat. They charge you on things that are unheard of overseas. Anything to make a buck or peso.
      That is why they are a remittance dept in the US and not wanting to open a branch

  10. Hi Saad and Bigwas, yes, you're both right. Thanks for reading and commenting.

  11. Do you have a branch in New York that is still in operation?

  12. Is there a BPI branch in Hew York that is still in operation?

  13. BPI Branch in New York?: I think it was already closed down, even before their remittance branches in Italy were closed down. It was not a banking branch, it was a remittance branch. The US remittance partners of BPI are Xoom, Remitly, Lucky Money and Money2Anywhere.
    If you're looking for a Philippine bank in New York, there's PNB. 561 Seventh Avenue, 2F New York, NY 10018
    Mon-Fri: 9:00am-3:00pm (212) 790-9600 / (212) 790-9600 / (212) 382-
    2238, Email: toribiomls@pnb.com.ph
    There's also Metrobank: New York Branch
    10 East 53rd Street
    New York, NY 10022
    (212) 832-0855
    (800) 863-8762 (Toll Free)

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