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

Bank often hike fees to retain margins and cover rising operational costs. (Credit: Pexels)

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.