Banks

Ditch Those Extra Bank Fees!

The big banks are raking in record profits, pocketing new tax bonanzas and laying off their own employees. Why pay banks more than we have to? Some commonsense, money-saving tips (the kind we often know but don’t always follow) from Today’s informative website.

  • Ditch Those Fees: Find a free checking account, no strings attached. In 2017, fees on noninterest-bearing checking accounts average $5.84 a month. With a free checking account, you’ll save about $70 a year.
  • Avoid ATM Surcharges: “Out-of-network” ATM withdrawals cost an average of $4.69, according to the 2017 Bankrate checking account survey. Even if you only do this once a month, you’ll save more than $40 a year if you use only your own bank’s ATMs.
  • No More Overdrafts: Overdraft fees for making purchases greater than your bank balance set new records last year, averaging $33.38. Make sure it doesn’t happen to you this year.

Categories: Banks, Consumers