How to Reduce Bank Fees and Make Money Work for You

It is very disappointing to see the piling up of fees from the bank, which should have been counted as interest. Thus, it is best to keep track of your expenses so that you can avoid fees for your bank accounts.

Being Smart when Using Your ATM Card

Using your ATM card outside of the network where your bank belongs should cost you extra money. This will depend though on your bank, which you have to pay the fees for each transaction you make to the bank owning the ATM machine and another to your bank.

You can avoid this from happening by making transactions only on your bank’s network. You should also research about the ATMs that your bank can transact without any fees.


Take Note of Overdraft Fees

Overdraft fees can occur if you make transactions that should exceed the current savings or checking balance from your bank. Thus, having insufficient funds will cause you to get charged with a fee. You can avoid this from happening if you do the following:

  • Use direct deposit on the paycheck into the checking account to save you the hassle of going to the bank to ensure you have sufficient funds.
  • Put a cushion on your checking account by keeping some money in it. This can be used to pay for unexpected expenses. Thus, you should maintain at least $500 on your savings account to act as a backup.
  • Make use of online or mobile banking. This will enable you to access your bank account’s info while you are away from your bank.


These tips should be helpful when you want to stay away from unnecessary bank fees. By keeping track of your money, you will be able to keep your checking and savings accounts safe without having to worry about extra fees.