Understanding Fees
Fee: |
Description: |
Avg. Cost: |
---|---|---|
Account |
Most banks will charge you a monthly service fee for the convenience of keeping your money with them |
$5.95 - $15.95 |
ATM Card |
If your debit card is lost, stolen, or misplaced, some banks will charge you a replacement fee |
$5.00 - $20.00 |
ATM Fees |
Some banks charge a fee each time you use an ATM to check your balance, make a withdrawal, etc. |
$1.95 - $15.00 |
Insufficient |
Charged each time your bank covers a check or other transaction due to lack of available funds in your account |
$30.00 - $75.00 |
Minimum Daily |
If your account has a minimum daily balance requirement, and you happen to fall below that requirement, you may be charged a fee |
$5.00 - $35.00 |
Out-of-Network |
Most banks will charge a fee if you use an ATM that is out-of-network. You could be charged by both the bank of the ATM as well as your bank |
$5.00 - $15.00 |
Overdraft |
If you continue making purchases, even if you don't have the funds available in your account, you will be charged a fee for each transaction |
$30.00 - $75.00 |
Ways to Avoid Bank Fees
- Ask your banker if your monthly service fee can be waived. Sometimes, if you keep a minimum daily balance, are a student, or set up direct deposit, the fee can be waived.
- Keep track of your card - don't lose it and you won't have to pay for a new one!
- Always know where you can find your bank's ATMs & only take out what you need.
- Overdraft, insufficient funds, & non-sufficient fund fees can be avoided if you keep an eye on your balance.
- Know what fees you are responsible for.
Additional Information:
- Don't leave receipts laying around ATMs - the less info people know, the better
- Familiarize yourself with your account's fees and banks policies
- Keep a buffer of money in your account so you don't incur fees
- Overdraft Protection - BE CAREFUL! FEES INVOLVED! Opt in or out