TIRED of paying extra bank fees? Look no further.
In 2023, approximately 52 million Americans were impacted by unexpected bank fees, according to a study conducted by Chime.
Sending wire transfers from one account to another can be costly[/caption]
Consumers are being urged to be aware of their bank’s rules to avoid unnecessary fees[/caption]
Americans can save up to $35 a month by signing up for an alert feature to avoid being charged for insufficient account funds.
Bank users who don’t have any measures set up for overdraft protection can face charges when making a purchase with insufficient funds in their account.
But these fees can be avoided.
Bank of America allows users to turn on alerts when your account drops below a certain threshold, a useful trick for those worried about fees.
Users can set alerts that can come in as notifications through banks’ mobile apps, text messages or emails.
There are several other fees consumers may face that can be avoided by being hyper aware of your bank’s rules.
Some banks charge fees when closing your bank account early.
Depending on the bank, you could be charged anywhere from $5 to $50 for closing a new account within 90 to 180 days of opening, according to Bankrate.
If you’re conscious of your bank’s account closing policies, you can avoid this fee. If you plan on switching accounts soon after opening, consider accounts without early closing fees.
BE CAREFUL
Sending wire transfers from one account to another can be costly.
Banks can charge an average of $15 for incoming international and domestic wires, according to Nerd Wallet.
On average, banks charge $45 for outgoing international wires and around $25 for outgoing domestic transfers.
Cutting back on wire transfers will help you save on those incoming and outgoing fees.
An easy way to face fees is by overdrawing from a checking account.
The American Bankers Association (ABA) recommends using direct deposit for your paycheck to ensure funds will be in your account. The ABA also recommends keeping a cushion of money in your account at all times just to be safe.
Using ATMs that are not affiliated with your specific bank can result in charges and fees.
Bankrate reported that the average ATM fee reached $4.86 in 2025, up nine cents from 2024.
You can avoid these additional costs by locating ATMs nearby through mobile banking apps.
Capital One, Discover Bank and USAA users can also utilize Allpoint ATMS.
Allpoint offers roughly 600 surcharge-free locations in Arkansas, Kentucky, Nebraska, Oklahoma, Ohio, Tennessee and Wisconsin in select Casey’s locations.
TOP TIPS
Allpoint ATMs can also be found throughout the surrounding area of Dallas, Texas, in CVS pharmacies, Walgreens, Speedways and Krogers.
Another kind of fee includes excess transaction fees which occur when savings and money market account holders exceed the limit of six free transfers and withdrawals each month, according to the Community Resource Credit Union.
The excess transaction fee can be avoided by monitoring your account activity and checking in to make sure you’re within the transaction limit.
If it gets to the point where you’re withdrawing from your savings often, the Community Resource Credit Union recommends keeping more money in your checking account as a backup.
Some banks and credit unions will charge a service or monthly maintenance fee.
Ways to avoid this fee include using banks that don’t charge fees as long as you keep the minimum amount required in your bank account.
