Glossary

Monthly maintenance fee

By Fredrik Filipsson, cofounder of Business Bank Index
Reviewed by Morten Andersen
Definition

A monthly maintenance fee is a recurring charge a bank applies for keeping a business account open, billed each statement period regardless of how much you use the account.

Information as of 22 February 2026Last reviewed 22 February 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

A monthly maintenance fee is the standing charge for holding a business account. It is billed every statement period whether or not you transact, though many banks waive it when the account meets a condition such as a minimum balance.

How a monthly maintenance fee works

A monthly maintenance fee, sometimes called a monthly account fee or service charge, is what a bank charges to keep a business account open and serviced. It is separate from per transaction charges. The fee is deducted automatically each statement period, so it applies even in a month with little or no activity. Banks set the amount by account tier, with higher tiers carrying more included services and a larger fee.

Fee waivers and what they require

Many banks waive the monthly maintenance fee when the account meets a stated condition during the period. Common conditions include holding a minimum balance, receiving a set level of deposits, keeping a linked account, or staying within a number of free transactions. If the condition is not met, the fee is charged. The exact waiver rules differ by bank and account, so the amount and the conditions should be confirmed with the provider.

Reading the fee against total cost

The headline monthly fee is only part of the cost of an account. Transaction fees, cash handling charges, and currency markups can matter more depending on how the business operates. A low or zero monthly fee can come with higher per item charges, and a higher monthly fee can include allowances that suit a busier account. Comparing the published fee schedules helps you see the full picture. Fees and waiver conditions vary by provider and region as of 22 February 2026.

Frequently asked questions

What is a monthly maintenance fee on a business account?
It is a recurring charge a bank applies for keeping the account open and serviced, billed each statement period regardless of how much you use the account. It is separate from per transaction charges.
Can a monthly maintenance fee be waived?
Often yes. Many banks waive the fee when the account meets a stated condition during the period, such as a minimum balance, a set level of deposits, or a linked account. If the condition is not met, the fee is charged. Confirm the exact rules with the provider.
Is a monthly maintenance fee the same as a transaction fee?
No. A monthly maintenance fee is a flat recurring charge for holding the account, while a transaction fee is charged per item such as a transfer or a cash deposit. An account can carry both.
Do all business accounts charge a monthly maintenance fee?
No. Some providers offer accounts with no monthly maintenance fee, though these can carry other charges such as higher per transaction fees. Compare the full fee schedule rather than the monthly fee alone.

Definitions, fees, features, and eligibility change and vary by region. This page was last reviewed on 22 February 2026. Confirm current terms with the provider before applying.

Related terms and guides

Transaction feeGlossary term Minimum balance requirementGlossary term Business bank accountGlossary term Bank statementGlossary term All glossary termsGlossary Compare providersBanks