Showing posts with label bank fees. Show all posts
Showing posts with label bank fees. Show all posts

Wednesday, May 9, 2012

Thursday Three: Bank Fees You Should Never Have to Pay

Gas prices are up, inflation is high, and most of America seem to be missing that 10% raise in income to make up for all the changes so what are you wasting money on? Sure I could tell you all about how eating at home is cheaper and getting movies from the library instead of paying to rent them will save you money, but what if you are already doing those things?

Many times consumers are paying fees to their banks that are literally costing them hundreds of dollars a year. Here are three fees that you can easily avoid.


      Maintenance fees. The large majority of banks have done away with “free checking.” This does not mean that you need to be paying for it though. If you are paying a maintenance fee, stop by your local bank and find out how to avoid it. These waivers typically include having a direct deposit into your account, maintaining a certain balance, using your debit card a certain amount of times per month, etc. 

      If you do not qualify for the waiver, see if there is a different product for you and if there isn’t, GO TO A DIFFERENT BANK. I know I shouldn’t be preaching this as customer retention is a huge part of my job but you are not required to keep the same checking account your entire life. If you are paying a maintenance fee, you need to make changes. Yes, switching your account may give you a headache for a couple of months, but a bottle of Tylenol is still cheaper than the maintenance fees you may be paying. According to Money Rates, the average maintenance fee is over $11 per month. Seriously, for nothing other than having your account at that bank.
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