Posts Tagged ‘ATM’

With the exception of bouncing checks left and right, bank fees aren’t necessarily going to “break the bank” – but at a time when everyone is trying to cut back and spend less, saving money on unnecessary bank fees can add up to savings over time. Here are some tips for avoiding bank fees:

• Use a bank with free checking. There are so many banks offering checking accounts without a monthly maintenance fee that you’re probably wasting your money if you’re paying a fee to keep an account at a bank.
• Forget about “float.” It used to be that you could write a check and know you had a good week before it would get cashed! These days, checks can be processed as quickly as swiping your debit card.
• Stop paying ATM fees – use your ATM card at your own bank only. Why give another bank $1.50 to $3 to withdraw your own money?
• Know your bank’s policy regarding using your debit card for shopping – some banks charge a fee when you swipe the card and use your PIN (debit) but charge nothing if you choose “credit” at checkout!
• Give yourself your own overdraft protection by depositing an extra $100 or so (don’t record it in your check register). If you make a mathematical error, you’ll have a buffer of your own money to rely on rather than having to pay the bank bounced check fees.