More on Banking Fees

 



More on Banking Fees 

 

The cost of bank fees can add up quickly, with the average overdraft fee being $33. To avoid these fees, there are several steps you can take.

Overdraft Fees: Also known as "nonsufficient funds" (NSF), overdraft fees can occur when there is not enough money in your account to cover a purchase made with a check or debit card. To avoid these fees, check your account balance regularly and opt out of overdraft protection.

ATM Fees: Being charged for using an ATM outside of your bank's network can be frustrating. To avoid these fees, check with your bank for locations where you can use its ATMs for free. Planning ahead and keeping some cash on hand can also help you avoid using another bank's ATM.

Monthly Service Charges: Monthly service charges for checking accounts can often be waived by meeting certain requirements such as direct deposit, opening a second account, or spending a certain amount on a credit card with the bank.

Low Balance Fees: Not meeting minimum balance requirements can result in fees of $5 to $10 each month. To avoid these fees, monitor the balance of your accounts and move money to accounts where you regularly keep a higher balance.

Finally, it is important to shop around for a bank that meets your needs and has lower or easy-to-waive fees. Many banks and credit unions offer similar services, so looking for the best deal can save you money in the long run.



Jeff Miller
REALTOR
S.0197087
Berkshire Hathaway HomeServices Nevada Properties
www.HomesforNevada.com

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