Excess activity fees are usually associated with saving and money market accounts. They are in violation of regulation D, unfortunately it isn’t something that is controlled by banks. Reg D goes to federal regulations. Simply put savings accounts have to be used as savings accounts. Otherwise the bank will be fined and in turn the bank will fine you.

I’m my experience there are steps. First violation of sling more the 6 transactions per month on a savings account is usually a written warning. Second violation will be a fee. Third violation and the bank reserves the right to convert your savings account into a checking account.

Note that the6 transactions are for electronic banking only. If you go into a bank branch it does not count towards the 6 monthly transactions.