If you’re still paying a monthly fee just to have a checking account, we need to have a serious talk.
In an era where digital banks are fighting for your business, paying maintenance fees is basically volunteering to give away your lunch money.
It’s not just banks, either. From tax prep to investment advice, there’s a whole industry built on charging you for services you can get for free, if you know where to look.
I’ve spent years watching people bleed cash through tiny convenience leaks that add up to thousands over a lifetime. I hate it and it’s time for it to stop.
Here are seven financial services you should never pay for again.
1. Checking and savings accounts
If your bank charges you a $12 monthly maintenance fee, it’s not your partner; it’s a predator. Most big-name banks will waive these fees if you jump through hoops like maintaining a high balance or setting up direct deposit. But why jump?
Ditch the “too big to fail” crowd and look at online banks or local credit unions. Many offer high-yield savings and totally free checking with no strings attached. Plus, online banks often have much better interest rates.
Why pay a bank to hold your money when it should be paying you?
See also: “12 Ways to Quit Paying for Bank Fees.”
2. Basic tax preparation
Unless you own a complex business or have foreign tax credits that make a CPA’s head spin, you probably don’t need to pay for tax software. If your adjusted gross income is $89,000 or less, you can use the IRS Free File program.
It gives you access to brand-name software at no cost. Even if you earn more, there are options like FreeTaxUSA that don’t charge for federal returns. Don’t let those “free” offers lure you in only to upsell you to a $60 service because you have a 1099 in addition to a W-2.
See also: “How to File Your Taxes for Free in 2026 (for Real).”
3. Credit scores and reports
You’ve probably seen the commercials for sites that want to protect your credit for $19.99 a month. Ignore them. But you should check your credit a couple of times a year.
By law, you’re entitled to a free credit report from each of the three major bureaus every week via AnnualCreditReport.com.
As for your score, most credit card issuers now provide your FICO score for free right on your monthly statement or mobile app. If yours doesn’t, services like Credit Karma will give you your credit score without charging a dime when you set up an account.
See also: “How to Get Your Free Credit Report in 6 Easy Steps.”
4. Investment trades
Remember when it cost $50 to trade a stock? Then $7? Those days are gone. If your brokerage is still charging you a commission for basic stock or exchange-traded fund (ETF) trades, you’re living in the past.
Platforms like Charles Schwab, Fidelity and Vanguard have all moved to $0 commissions for online trades.
If you’re still with a full-service broker who charges you a fee every time you want to buy a few shares of an index fund or ETF, it’s time to move your money somewhere more hospitable.
5. Financial counseling and budgeting
If you’re struggling with debt, don’t fall for debt settlement companies that charge massive upfront fees. They often do more harm than good. Instead, look for a nonprofit credit counseling agency.
Organizations like the National Foundation for Credit Counseling (NFCC) can steer you to free or very low-cost initial consultations. They can also help you set up a budget and a plan to get out of the hole without digging a second one just to pay their fees.
Note: If you do get on a debt-reduction plan, nonprofit counseling agencies will charge a small monthly fee. But talking to them is free.
6. ATM access
Paying $3 to $5 to access your own money is an insult. If you’re at a bank with a small footprint, choose one that’s part of a larger network like Allpoint or MoneyPass.
Better yet, find a bank that reimburses ATM fees charged by other banks. If you’re in a pinch and happen to find yourself at a store, just get cash back with a debit purchase. The ATM fee you just avoided will pay for a gallon of milk.
7. Estate planning basics
I’m not saying you should DIY a multimillion dollar trust. But for a simple “who gets my stuff” will or a health care power of attorney, you don’t always need a lawyer charging $300 an hour.
Many employers offer legal assistance programs as a benefit, or you can find reputable statutory forms online for free through your state’s legal aid website.
If your life is straightforward, your estate plan should be too.
See also: “8 Essential Legal Documents to Create Before It’s Too Late.”
