Money Saving Tip: Choose A Bank With No Overdraft Fees

Money Saving Tip: Choose the Right Bank

Money Saving Tip: Choosing the right bank can be an easy and painless way to save some extra cash.

Whether you want to get out of debt or you just want to save a few bucks here or there, picking the right bank can be an easy way to tuck away a few George Washington’s.

When choosing a new bank pick a bank that gives back. Seek out perks like no ATM fees, high interest on savings accounts, and no overdraft fees. Often times it’s the smaller banks who offer more attractive interest rates & perks.

Not sure if your current bank offers these perks? Give your bank a call them and ask them what current offers they have running and if they will offer any of the above perks.

Some other things to consider when choosing a bank:

Many banks offer a free checking account option. However, be sure to ask if the bank requires a minimum balance to be maintained on free checking accounts.

Ask for a list of additional fees that the bank may charge. The charges can range from as little as .10 cents to several dollars – either way – they will add up.

Three Common Bank Fees:

  1. Check Fees: Some banks charge a small fee for each check you write.
  2. Balance Inquiry Fees: Some institutions charge you to find out how much money you have in your account.
  3. ATM Fees: If you withdraw cash from an ATM owned by a bank other than your own, your bank could charge you AND the ATM may charge you for not being one of their customers.

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Devin Joy
djoy@incharge.org

Devin is a graduate of Valencia College in Graphic and Interactive Design. Devin has over ten years of experience designing educational and inspiring materials for print, web and other media.