Many of us have opened an account statement or gone online to track banking activity and found an unexpected charge of some kind. After some investigation, the story usually goes that the terms of certain transactions carry a fee, which was probably buried in fine print or quickly skimmed over by a representative at the time of setting up the account. Or maybe it was information sent out when the bank made changes to its account terms, and let’s be honest: Who really reads through those carefully?
To avoid getting extra charges and feeling ripped off by your bank, take a look at these typical bank account fees to avoid.
Anyone who has taken out money at an ATM outside of their banking network has probably had to agree to a fee charged by the machine provider, and most people probably know that their bank may charge a buck or two (or more) in addition to that fee. Some banks allow for a small number of transactions per month and a fee for each transaction thereafter.
However, the bank may even charge for a variety of transactions that don’t even involve the removal of money from an account. Taking actions like making balance inquiries or making a deposit could end up costing more than it is worth.
You may want to consider signing up for an online bank like Ally or Capital One 360; they partly reimburse you for out-of-network fees. (*Capital One 360 ATM usage is free, as long as you use a machine within the AllPoint Network.)
Here are the top online banks that have highest savings accounts rates and free interest checking accounts: