I recently accidentally went over the limit of 6 and they reversed the fee for me. 1st & only time.
Once a year sounds fair to me. Although a lower fee would help too. I saw one bank that only charges $3 if you go over.
Just now I got this email...
Thank you for choosing Discover Bank. We appreciate your business and are here to help you bank better. We are excited to tell you about a positive change to the way Discover assesses certain fees on your account. We will be forgiving the first Eligible Fee applicable to your Eligible Account as described below. This change to your Deposit Account Agreement will be effective as of May 7, 2018. Please carefully review the contents of this letter and retain a copy for your records.
Changes to our Deposit Account Agreement include:
Section 37 (Added)
FIRST FEE
FORGIVENESS
Products Impacted: Checking, Savings, and Money Market Accounts
Section (a) Definitions. For purposes of this Section 37 the following definitions apply:
i. "Eligible Account" means a Discover checking account, savings account or Money Market account.
ii. "Eligible Fee" means an Excessive Withdrawal Fee, Insufficient Funds Fee, Stop Payment Fee or a Money Market Minimum Balance Fee.
(b) During each calendar year (January 1 through December 31), if one of your Eligible Accounts is subject to one of the Eligible Fees, we will apply the Eligible Fee and then credit your account for the first Eligible Fee that would be applicable to your Eligible Account. For clarity, each Eligible Account is allowed one, and only one, Eligible Fee to be forgiven per calendar year.
(c) If your Eligible Account is charged two Eligible Fees in the same calendar day, the highest Eligible Fee will be forgiven.
If you have any questions, please call us at 1-800-983-1245 (TDD 1-800-347-7454). Our 100% U.S.-based customer service team is available 24 hours a day, 7 days a week.