How to Avoid Bank Checking Fees

Bank checking fees are often a waste of your money. After all, there is no reason why you should have to pay to access your own money. There are ways to minimize your costs, but you might need to change banks in order to avoid bank checking fees completely.

1.Reread your banking account terms to find out exactly why your checking account is charged. If you don't have a copy of this document, your bank may provide it online. If not, you can ask about it next time you're in a branch.

2.Sign up for a checking account that meets your banking needs. There are some types of accounts that are free as long as you don't go over a set number of withdrawals each month.

3.Maintain the minimum daily balance required by your checking account. Although it's more common with savings accounts, some banks have started to offer free checking for people who maintain a certain daily balance. Sometimes, you're required to keep your account over this amount every day of the month to avoid a fee.

4.Get direct deposit for your paycheck. Many banks waive checking fees if you have this service because it saves them from having to process your paper deposit. You'll often get paid faster as an added bonus of direct deposit.

5.Watch out for ATM fees, as they are taken from your checking account. You can avoid these fees by using ATM's that are in your bank's network. You can also avoid them by making fewer withdrawals each month.

6.Use your debit card or cash instead of writing checks. By doing so, you minimize the chances of bouncing one. The fees for bounced checks are much higher than maintenance fees.

Consider changing banks if you can't meet the requirements to avoid checking fees. Banking is a very competitive field, and a bank representative may waive your checking fees if you tell him that you want to close your account and change banks.

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