diff --git a/bin/keeper/src/crank.rs b/bin/keeper/src/crank.rs
index 705ea8b2b..10c12d412 100644
--- a/bin/keeper/src/crank.rs
+++ b/bin/keeper/src/crank.rs
@@ -26,6 +26,7 @@ use prometheus::{register_histogram, Encoder, Histogram, IntCounter, Registry};
 use solana_sdk::{
     instruction::{AccountMeta, Instruction},
     pubkey::Pubkey,
+    signature::Signature,
 };
 use tokio::task::JoinHandle;
 use tracing::*;
@@ -507,12 +508,13 @@ async fn charge_collateral_fees_inner(
         ix_to_send.push(ixs);
     }
 
-    send_batched_log_errors_no_confirm(
+    let txsigs = send_batched_log_errors_no_confirm(
         client.transaction_builder().await?,
         &client.client,
         &ix_to_send,
     )
     .await;
+    info!("charge collateral fees: {:?}", txsigs);
 
     Ok(())
 }
@@ -522,7 +524,9 @@ async fn send_batched_log_errors_no_confirm(
     mut tx_builder: TransactionBuilder,
     client: &mango_v4_client::Client,
     ixs_list: &[PreparedInstructions],
-) {
+) -> Vec<Signature> {
+    let mut txsigs = Vec::new();
+
     let mut current_batch = PreparedInstructions::new();
     for ixs in ixs_list {
         let previous_batch = current_batch.clone();
@@ -533,7 +537,7 @@ async fn send_batched_log_errors_no_confirm(
             tx_builder.instructions = previous_batch.to_instructions();
             match tx_builder.send(client).await {
                 Err(err) => error!("could not send transaction: {err:?}"),
-                _ => {}
+                Ok(txsig) => txsigs.push(txsig),
             }
 
             current_batch = ixs.clone();
@@ -544,7 +548,9 @@ async fn send_batched_log_errors_no_confirm(
         tx_builder.instructions = current_batch.to_instructions();
         match tx_builder.send(client).await {
             Err(err) => error!("could not send transaction: {err:?}"),
-            _ => {}
+            Ok(txsig) => txsigs.push(txsig),
         }
     }
+
+    txsigs
 }
diff --git a/programs/mango-v4/src/instructions/token_charge_collateral_fees.rs b/programs/mango-v4/src/instructions/token_charge_collateral_fees.rs
index 028a287ff..fc145ba11 100644
--- a/programs/mango-v4/src/instructions/token_charge_collateral_fees.rs
+++ b/programs/mango-v4/src/instructions/token_charge_collateral_fees.rs
@@ -67,6 +67,11 @@ pub fn token_charge_collateral_fees(ctx: Context<TokenChargeCollateralFees>) ->
         }
     }
 
+    // If there's no assets or no liabs, we can't charge fees
+    if total_asset_health.is_zero() || total_liab_health.is_zero() {
+        return Ok(());
+    }
+
     // Users only pay for assets that are actively used to cover their liabilities.
     let asset_usage_scaling = (total_liab_health / total_asset_health)
         .max(I80F48::ZERO)
@@ -77,7 +82,7 @@ pub fn token_charge_collateral_fees(ctx: Context<TokenChargeCollateralFees>) ->
     let token_position_count = account.active_token_positions().count();
     for bank_ai in &ctx.remaining_accounts[0..token_position_count] {
         let mut bank = bank_ai.load_mut::<Bank>()?;
-        if bank.collateral_fee_per_day <= 0.0 {
+        if bank.collateral_fee_per_day <= 0.0 || bank.maint_asset_weight.is_zero() {
             continue;
         }
 
diff --git a/programs/mango-v4/tests/cases/test_collateral_fees.rs b/programs/mango-v4/tests/cases/test_collateral_fees.rs
index b7fbb3d6c..5d069f023 100644
--- a/programs/mango-v4/tests/cases/test_collateral_fees.rs
+++ b/programs/mango-v4/tests/cases/test_collateral_fees.rs
@@ -1,3 +1,4 @@
+#![allow(unused_assignments)]
 use super::*;
 
 #[tokio::test]
@@ -44,6 +45,18 @@ async fn test_collateral_fees() -> Result<(), TransportError> {
     )
     .await;
 
+    let empty_account = create_funded_account(
+        &solana,
+        group,
+        owner,
+        2,
+        &context.users[1],
+        &mints[0..0],
+        0,
+        0,
+    )
+    .await;
+
     let hour = 60 * 60;
 
     send_tx(
@@ -92,6 +105,32 @@ async fn test_collateral_fees() -> Result<(), TransportError> {
     .await
     .unwrap();
 
+    //
+    // TEST: It works on empty accounts
+    //
+
+    send_tx(
+        solana,
+        TokenChargeCollateralFeesInstruction {
+            account: empty_account,
+        },
+    )
+    .await
+    .unwrap();
+    let mut last_time = solana.clock_timestamp().await;
+    solana.set_clock_timestamp(last_time + 9 * hour).await;
+
+    // send it twice, because the first time will never charge anything
+    send_tx(
+        solana,
+        TokenChargeCollateralFeesInstruction {
+            account: empty_account,
+        },
+    )
+    .await
+    .unwrap();
+    last_time = solana.clock_timestamp().await;
+
     //
     // TEST: Without borrows, charging collateral fees has no effect
     //
@@ -99,7 +138,15 @@ async fn test_collateral_fees() -> Result<(), TransportError> {
     send_tx(solana, TokenChargeCollateralFeesInstruction { account })
         .await
         .unwrap();
-    let mut last_time = solana.clock_timestamp().await;
+    last_time = solana.clock_timestamp().await;
+    solana.set_clock_timestamp(last_time + 9 * hour).await;
+
+    // send it twice, because the first time will never charge anything
+    send_tx(solana, TokenChargeCollateralFeesInstruction { account })
+        .await
+        .unwrap();
+    last_time = solana.clock_timestamp().await;
+
     // no effect
     assert_eq!(
         account_position(solana, account, tokens[0].bank).await,