What fees MidFirst Bank charges on checking accounts

MidFirst Bank charges a monthly maintenance fee on most checking accounts, but the amount and whether you pay it depends on which account you open and how you use it. The bank offers several checking products, and each one has different fee structures and ways to waive the monthly charge.

The most common checking account at MidFirst is the MidFirst Checking account, which carries a $5 monthly maintenance fee. You can avoid this fee by maintaining a minimum daily balance of $500 or by setting up a direct deposit of at least $500 per month. If you do neither, the $5 charge appears on your statement each month.

MidFirst also offers a MidFirst Premium Checking account with a $10 monthly maintenance fee. This account waives the fee if you keep a $2,500 minimum daily balance or set up a direct deposit of $2,500 or more per month. The premium account typically includes additional benefits like higher interest rates and more ATM fee reimbursements, which may justify the higher fee for some customers.

Key Takeaways

  • MidFirst Checking charges $5 per month unless you maintain a $500 minimum daily balance or receive a $500 monthly direct deposit.
  • MidFirst Premium Checking costs $10 per month but waives the fee with a $2,500 minimum balance or $2,500 direct deposit.
  • Out-of-network ATM withdrawals typically cost $2.50 per transaction, though some accounts reimburse a certain number of these fees each month.
  • Overdraft fees, wire transfer fees, and stop payment fees apply to most MidFirst checking accounts and vary by transaction type.
  • You can check your account's specific fee schedule by logging into online banking or calling MidFirst customer service at 1-800-654-3210.

Out-of-network ATM fees and reimbursements

When you withdraw cash from an ATM that is not part of the MidFirst network, you pay a $2.50 fee per transaction. This fee comes from MidFirst, separate from any fee the other bank's ATM may charge you. If you use out-of-network ATMs frequently, these charges add up quickly.

MidFirst Premium Checking reimburses up to four out-of-network ATM fees per month, which can save you $10 monthly if you regularly use ATMs outside the network. The standard MidFirst Checking account does not include ATM fee reimbursements, so you either need to use MidFirst ATMs or pay the fee each time.

MidFirst operates its own ATM network, and using those machines is free. You can find MidFirst ATMs through the bank's website or mobile app, or ask a teller for locations near you. If you live or work far from a MidFirst ATM, the Premium Checking reimbursement benefit may be worth the higher monthly cost.

Overdraft fees and NSF charges

If you spend more money than you have in your account, MidFirst charges an overdraft fee of $35 per transaction. This fee applies whether the overdraft is covered by the bank's overdraft protection or whether the transaction is declined. Multiple overdrafts in one day can result in multiple fees.

MidFirst offers overdraft protection, which links your checking account to a savings account or money market account. If you overdraw checking, the bank automatically transfers money from the linked account to cover the shortfall. This service typically costs $10 per month but prevents overdraft fees from occurring in the first place.

You can also opt out of overdraft coverage entirely, which means transactions will simply be declined if you do not have enough funds. This prevents overdraft fees but may cause inconvenience if you attempt a purchase and it fails at the register or online.

Wire transfer fees and other transaction costs

Sending a domestic wire transfer through MidFirst costs $15 for outgoing transfers. International wire transfers cost $25. These fees are charged whether you send the wire in person at a branch, through online banking, or by phone.

Receiving a wire transfer is free at MidFirst. If you are expecting money from another bank, you will not pay a fee to receive it, though the sending bank may charge the person sending the money.

Stop payment requests, which tell the bank to cancel a check you wrote, cost $25 per request. Cashier's checks typically cost $5 to $10 each, depending on the branch. Account research or copies of old statements may also carry fees if you request them more than a certain number of times per year.

How to find your account's specific fee schedule

MidFirst publishes a fee schedule for each account type, and the exact fees can vary slightly by state or branch. The most reliable way to see what you will actually pay is to log into your online banking account and look for the fee schedule in the account details section, or call MidFirst customer service at 1-800-654-3210.

When you open an account, MidFirst provides a disclosure document that lists all fees associated with that specific account. Keep this document or request a new copy if you need to check fees later. You can also visit a branch in person and ask a banker to walk you through the fee structure for your account type.

Fee schedules can change, so if you have not checked yours in over a year, it is worth reviewing again. MidFirst notifies customers of fee changes in advance, usually by mail or through online banking messages, but the notification can be easy to miss.

Ways to reduce or eliminate checking fees

The simplest way to avoid the monthly maintenance fee is to set up direct deposit. If your employer or a government agency (like Social Security) deposits money directly into your MidFirst account, you meet the direct deposit requirement and the monthly fee is waived. You do not need to keep a large balance; the direct deposit alone is enough.

If direct deposit is not an option, maintaining the minimum daily balance is the other path. For standard MidFirst Checking, you need $500 in the account every day. For Premium Checking, it is $2,500. The balance is calculated daily, so if you dip below the minimum even once during the month, you may be charged the fee.

To avoid overdraft fees, monitor your balance regularly through online banking or the mobile app, and set up account alerts that notify you when your balance falls below a certain amount. Many people also choose to link a savings account for overdraft protection, which costs $10 monthly but prevents the $35 overdraft fees from happening.

Comparing MidFirst checking to other banks

MidFirst's $5 monthly fee for standard checking is higher than some online banks, which offer checking with no monthly fee and no minimum balance. However, MidFirst has physical branches and ATMs, which some people prefer for deposits, withdrawals, and customer service.

Regional banks and credit unions often have lower monthly fees or fee-free checking if you meet simple requirements like a small direct deposit or a low minimum balance. If you are considering switching banks, compare not just the monthly fee but also overdraft fees, ATM fees, and wire transfer costs, since those add up over time.

MidFirst's Premium Checking with ATM fee reimbursements may cost less overall than standard checking if you frequently use out-of-network ATMs. Calculate your own usage: if you use an out-of-network ATM four or more times per month, the $10 Premium fee plus reimbursements might save you money compared to paying $2.50 per transaction on standard checking.

Frequently Asked Questions

Can I get the monthly fee waived without direct deposit or a minimum balance?

MidFirst does not currently offer a checking account with no monthly fee and no requirements. Your options are to meet the direct deposit or minimum balance requirement, or to pay the monthly fee. Some accounts may have special promotions for new customers, so ask at your branch whether any fee waivers are currently available.

What happens if I fall below the minimum balance for one day?

If your balance dips below the required minimum on even one day during the month, you may be charged the monthly maintenance fee. Some banks calculate the minimum daily balance as an average across the month, but MidFirst typically requires you to maintain the minimum every single day to waive the fee. Check your account disclosure to confirm how your bank calculates this.

Are there any checking accounts at MidFirst with no fees at all?

MidFirst does not offer a completely free checking account with no monthly fee, no overdraft fees, and no transaction fees. However, if you meet the direct deposit requirement, you pay no monthly maintenance fee. Overdraft and transaction fees still apply if you use those services.

Do I pay a fee if my check bounces?

Yes. If a check you write bounces because you do not have enough funds, MidFirst charges a $35 overdraft fee. The person or business you wrote the check to may also charge you a returned check fee, so the total cost can be $50 or more.

Can I switch to a different MidFirst checking account to lower my fees?

Yes. If you currently have standard MidFirst Checking and you do not meet the fee waiver requirements, you can ask about other account options. However, MidFirst's main checking products are the standard and premium accounts, so your options are limited. Speak with a banker about whether your situation qualifies for any special accounts or fee waivers.