If you are an average banking customer, then you are spending about $150 a year on checking account fees alone. Imagine what you could do with that money other than pay it to your bank – especially given that you likely have “fee-free checking!” On average, maintenance fees alone cost about $152 a year, and that is before ATM fees and overdraft fees (usually about $25, but they can be up to $32.48)[1]. Fortunately, there are a few legal ways to dodge bank fees that do not involve hiding your gold bullion in a mattress for the rest of your life. Check them out:

Consider banking online
Although online banks still have fees, their fees are at least lower. 58 percent of online checking accounts have no monthly maintenance fees, and the minimum needed to start an online account is about $29, compared to $428.08 at a traditional bank.

DIY when possible
It’s annoying, but the more banking you can do on your own, the better. Opting out of paper statements and using online bill-pay will save you money in fees and charges for paper billing. Additionally, most banks will waive fees if you have your paycheck direct-deposited into your account.

Get ATM-savvy
When possible, avoid using ATMs completely by getting cash back when you make necessary purchases like groceries. If you must use an ATM, use an in-network machine. Most banks have apps to help you find them. If you must use an out-of-network ATM while traveling, for example, get a large amount of cash so that you won’t have to pay those fees more than once.

How do you save money on banking fees?

*GOD Speed*


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