Checking Account Monthly Service Fees
Effective October 1, 2024, monthly service fees will be changing on select checking accounts. In addition, there will be new ways to waive your monthly service fee based on your account activity.
Current Monthly Service Fees through 9/30/24
| Current Monthly Service Fees through 9/30/2024 |
|
Ways to Waive Fees through 9/30/2024 | |
|---|---|---|---|
|
EASE by Bank of Hawaii |
$3.25 |
Enrollment in online statements |
|
|
Convenience |
$3.25 |
Enrollment in online statements |
|
|
Bankohana I |
$15 |
Combined Bankohana Balance1 of $6,000 |
|
|
Bankohana II |
$20 |
Combined Bankohana Balance1 of $20,000 |
|
|
Bankohana III |
$30 |
Combined Bankohana Balance1 of $50,000 |
New Monthly Service Fees, effective 10/1/24
| Monthly Service Fees beginning 10/1/2024 |
|
Ways to Waive Fees beginning 10/1/2024 | |
|---|---|---|---|
|
EASE by Bank of Hawaii |
$3.25 |
Minimum average daily Ledger Balance2 of $200 or any Direct Deposit3 |
|
|
Convenience |
$5 |
Minimum average daily Ledger Balance2 of $500 or total minimum Direct Deposits3 of $500 |
|
|
Bankohana I |
$15 |
Combined Bankohana balances1 of $6,000 |
|
|
Bankohana II |
$25 |
Combined Bankohana balances1 of $20,000 |
|
|
Bankohana III |
$30 |
Combined Bankohana balances1 of $50,000 |
[1,2,3] See important information
1 For a full list of accounts that may be used to meet the combined balance requirement, review the Bankohana Benefits and Requirements document.
2 The average daily Ledger Balance will appear on your statement as “Average balance”.
3 Direct Deposit is define as an electronic deposit made through the ACH network to your Account by someone else, such as an employer issuing payroll or a government paying benefits made during a monthly cycle.
Frequently Asked Questions
Why are my monthly service fees changing?
We value you as a customer and understand your concern regarding the increase. We are constantly reassessing our fees, and this adjustment allows us to maintain our commitment to delivering exceptional value in a competitive environment. It is never an easy decision to increase fees, but our new fees remain comparable to local peer banks and lower than national banks. In addition, however, we made it easier to obtain a monthly service fee waiver by either making qualifying direct deposits (specifically for EASE and Convenience Checking accounts) or maintaining a minimum balance.
How can I find out which checking account I have?
Your checking account type can be found by logging into your mobile app or online banking account on your laptop, tablet, or mobile device. You can also check your statement.
How can I find out what my average daily Ledger Balance is?
Check your last statement to find your previous month's average daily Ledger Balance reflected as "Average balance". This will vary each month depending on your account balance.
What is considered a Direct Deposit?
Direct Deposits are electronic deposits made through the ACH network to your Account by someone else, such as an employer issuing payroll or a government paying benefits made during a monthly cycle. This includes ACH credits such as Zelle (from other financial institutions), Venmo, etc.
What if I am a customer who was initially enrolled in a Free Checking account and converted into a Convenience Checking in May 2015 but continued to have my monthly service fee waived without electing to receive online statements?
For Grandfathered Convenience Checking Account customers, the Monthly Service Fee changes will take effect on January 1, 2025, not on October 1, 2024.
I would like to know more about the monthly service fee changes.
For more information, see the Changes to the Bank of Hawaii Consumer Checking and Savings Account Fee Schedule effective 10/1/2024.
What if I want to change my account based on the monthly service fee changes?
We’re happy to help you find a checking account that will meet your needs. Book an appointment with a banker to learn more about your options.
Why are my monthly service fees changing?
We value you as a customer and understand your concern regarding the increase. We are constantly reassessing our fees, and this adjustment allows us to maintain our commitment to delivering exceptional value in a competitive environment. It is never an easy decision to increase fees, but our new fees remain comparable to local peer banks and lower than national banks. In addition, however, we made it easier to obtain a monthly service fee waiver by either making qualifying direct deposits (specifically for EASE and Convenience Checking accounts) or maintaining a minimum balance.
How can I find out which checking account I have?
Your checking account type can be found by logging into your mobile app or online banking account on your laptop, tablet, or mobile device. You can also check your statement.
How can I find out what my average daily Ledger Balance is?
Check your last statement to find your previous month's average daily Ledger Balance reflected as "Average balance". This will vary each month depending on your account balance.
What is considered a Direct Deposit?
Direct Deposits are electronic deposits made through the ACH network to your Account by someone else, such as an employer issuing payroll or a government paying benefits made during a monthly cycle. This includes ACH credits such as Zelle (from other financial institutions), Venmo, etc.
What if I am a customer who was initially enrolled in a Free Checking account and converted into a Convenience Checking in May 2015 but continued to have my monthly service fee waived without electing to receive online statements?
For Grandfathered Convenience Checking Account customers, the Monthly Service Fee changes will take effect on January 1, 2025, not on October 1, 2024.
I would like to know more about the monthly service fee changes.
For more information, see the Changes to the Bank of Hawaii Consumer Checking and Savings Account Fee Schedule effective 10/1/2024.
What if I want to change my account based on the monthly service fee changes?
We’re happy to help you find a checking account that will meet your needs. Book an appointment with a banker to learn more about your options.
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