Bank fees and how to avoid them
CNN Money has a short piece detailing bank fees and some steps to take to avoid them. If there is one thing about me, it is that I loathe bank fees. Yes, I truly hate them with a burning passion. Here’s four pieces of advice that the article offers:
- Don’t use another bank’s ATM
- Avoid overdraft fees
- Check the bank’s policies
- Join a credit union.
Here’s my take:
1. I always try to use my credit union’s ATM. Alternatively I may use a debit card to get cash back when making a purchase. Or I just go to the bank and request my money.
2. I would dodge overdraft fees by linking my accounts and keeping a cash buffer in my checking account. I’d also track all my spending electronically so I’ll know in advance if my buffer is running out.
3. I ask upfront what fees are included. If they say there is a maintenance fee I say no thanks. Maintenance fees should be outlawed.
4. I love my credit union. The people who work there are nice and there are no asinine fees.
