How to Avoid Hidden Bank Fees and Charges

1. Watch Out for Overdraft Fees

Overdraft fees happen when you spend more than what’s in your account. They can cost $30–$40 each time.

• Set up low balance alerts with your bank app.

• Link your checking account to savings for automatic overdraft protection.

• Always keep a small buffer ($50–$100) in your account.

Quick Win: Turn on text or app notifications so you know the moment your balance dips.

2. Avoid Out-of-Network ATM Fees

Using ATMs outside your bank’s network can cost $3–$5 per withdrawal—plus extra fees from the ATM owner.

• Use only your bank’s ATMs.

• Take advantage of cash-back at checkout when shopping.

• Switch to a bank that reimburses ATM fees.

Quick Win: Plan cash withdrawals once a week instead of multiple small ones.

3. Say No to Monthly Maintenance Fees

Some banks charge $10–$15 monthly just for holding an account.

• Choose no-fee checking accounts or online banks.

• Maintain the required minimum balance (if you must stay).

• Set up direct deposits to waive fees.

Quick Win: If your bank charges a maintenance fee, call and ask for it to be waived—you’d be surprised how often it works.

4. Be Careful with Foreign Transaction Fees

When you travel abroad or shop online internationally, banks may charge 2–3% on each purchase.

• Use a credit card with no foreign transaction fees.

• Consider a travel-friendly debit account.

• Convert currency in advance if possible.

Quick Win: Before your next trip, check if your card charges international fees—if yes, get a travel card.

5. Read the Fine Print

Many “hidden” charges come from the small details you miss.

• Review account terms when you open an account.

• Regularly check statements for unfamiliar fees.

• Call your bank immediately if you notice anything off.

Quick Win: Make it a habit to scan your bank statement once a week—it takes 2 minutes but saves big money.