6 Tips to Lower or Avoid Bank Charges

Banking fees can add up quickly and eat into your hard-earned savings. However, there are several ways to lower or avoid bank charges, including:

1. Banking online: Many banks offer online banking services that allow you to check your account balances, transfer money, and pay bills without incurring additional fees.
2. Using free checking or savings accounts: Some banks offer free checking and savings accounts with no monthly maintenance fees. These accounts typically require a minimum deposit to open and may have other requirements, such as a minimum number of transactions per month.
3. Maintaining a minimum monthly balance: Many banks charge a fee if your account balance falls below a certain threshold. By maintaining a minimum monthly balance, you can avoid these fees.
4. Using ATMs of your bank: Using the ATMs of your bank can help you avoid ATM fees. Some banks will reimburse you for ATM fees charged by other banks.
5. Avoiding unnecessary fees: Some fees, such as those for overdrafts or late payments, can be avoided by being more careful with your account.
6. Compare fees: Before opening an account with a bank, compare the fees of different banks. Check the fees for different types of transactions and services, such as ATM withdrawals, online banking, and check writing.