The Hidden Charges in Savings Accounts That Are Quietly Costing You MoneySavings account fees can quietly reduce your money through minimum balance penalties, ATM charges, debit card fees, transfer costs, SMS alerts, cheque returns and early closure charges. Savings account charges are structured to be easy to miss. Minimum Balance Penalties: The Most Common SurpriseIf your savings account requires a minimum average monthly balance and you fall below it, the bank charges a non-maintenance fee. With a digital savings account, you can conveniently initiate eligible transactions through digital banking channels, helping you avoid branch visits while keeping banking simple and accessible. The Bottom LineHidden charges aren’t secret; they’re listed in the schedule of charges that every bank publishes.