Sometimes I get hit with overdraft or cash minimum fees, but I almost always get them reversed when I call my bank and use this script (2024)

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• My bank charges for overdrafting and not meeting cash minimums, which are fees I incur sometimes.
• I can almost always reverse them by persistently calling the bank, saying that I'm a loyal customer.
• It's not a guarantee, but it works for me — still, I'm switching banks soon to one with no fees.
• Read more from Personal Finance Insider.

At the end of every month, I take a detailed look at all of my bank statements and circle any incurred fees. While I try to avoid racking up bank fees, I usually get hit with a few every quarter.

When my bills are more than I expect them to be, I sometimes overdraft my personal account and incur a $35 fee. For my business account, there's a minimum amount of funds that have to be in the account every single month. When I don't have enough cash to meet that minimum, my bank charges me a $16 fee. At the end of this past December, I noticed I had over $100 worth of fees that I wanted to get returned to me.

According to the Center for Responsible Lending, U.S. banks collected more than $11 billion in overdraft fees in 2019. However, there's a chance you can get these fees refunded to you since banks can reverse them at their own discretion.

In my experience, it's always worth asking. If the bank sees that you're a customer who has either been with the bank for a while or has a good history with them, there is a good chance they will overturn those fees.

Here's what to say to your bank

Before you call your bank, have an understanding of what you are going to say. After circling the fees on my statement that I want to get adjusted, here is the exact script I use when I make the call.

Me: I'm calling today about an overdraft fee I received on my account ending in [share the last four digits of your account number]. I would like it waived.

Bank Representative: I see that fee. Unfortunately, we're not able to waive it because [they might share a reason].

Me: I've been a customer with [name of bank] and have had multiple accounts for [number] of years. It's rare that I incur these fees and I'd like to get this one removed today. What can you do to help me?

Representative: One moment, let me place you on a brief hold.

This is when they usually put me on hold for a minute, and come back with the following:

Representative: I was able to check with my supervisor and we can waive that fee for you today.

What if they say no?

While this script usually is successful for me, it's never a guarantee. If you find that your bank representative comes back and says that they can't waive the fee, ask for an explanation and repeat the script about being a loyal customer.

If that doesn't work, you can hang up and try calling again. Sometimes the outcome can vary based on the bank representative that you get that day. Try calling back a handful of times before agreeing to pay the fee.

One of the biggest changes I want to make this year is to switch my bank to one with less fees. If you're finding yourself picking up the phone and negotiating getting these fees waived every month, it might be worth it.

There are banks out there that come without overdraft fees or minimum amounts of cash required every account. Switching can help you avoid a lot of fees and the headache that comes with trying to get them waived.