Good news - we don’t charge any fees for making deposits! Just keep in mind there may be limits on how much and how often you can transact.
For withdrawals and transfers, fees can vary depending on the method you choose. Our fee schedule is detailed below:
Fee Description | Fee Amount & Frequency | Additional Details |
Karat Premium Monthly Maintenance Fee | $20.00 / month | Charged to maintain Premium Account status. Waived if an average monthly balance of $35,000 is maintained. |
Karat Basic Domestic Outbound Wire Fee | $20.00 / per wire sent | Charged only to Karat Basic accounts. Free for Karat Premium. |
International Outbound Wire Fee | $40.00 / per wire sent | Applies to all account tiers. |
Karat is a financial technology company and not a bank. Banking services provided by Grasshopper Bank, N.A., member FDIC.
Karat perks including offering APY rewards on deposits are offered by Karat. The advertised rates are effective as of 4/18/25 and are subject to change. See Deposit Account Agreement Disclosures (trykarat.com/deposit-account-agreement-disclosures) and Karat Premium Terms of Service (trykarat.com/karat-premium-terms-of-service) for details.