Bank Service Charge
Accounting glossary · Understand, connect, apply
A bank service charge is a fee charged by a bank for an account or banking service.
Example
A $15 monthly fee shown on the bank statement but not yet recorded is entered as a bank-fee expense and a reduction in Cash.
Remember the difference
Check whether the fee was already recorded before making a reconciliation adjustment; do not record it twice.
Updated 3 November 2026. Examples are simplified for learning. Where a term depends on US law, IFRS, US GAAP or a historical rule, check the context explained above and the requirements relevant to your course.
Study references: OpenStax financial accounting and managerial accounting. For reporting requirements, consult the applicable IFRS Standards or FASB guidance. US tax terms should be checked against the relevant tax-year IRS instructions.
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