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How to Help Avoid Bank Fees, Overdraft Fees & ATM Fees Want to help avoid overdraft fees and ATM fees? Reduce your banking costs by learning how to help avoid bank fees today. How to Help Avoid Bank Fees, Overdraft Fees & ATM Fees Managing the Cost of Banking

Learn how to get the most from your banking relationship and help reduce bank fees.

If you’re looking to cut expenses and keep better track of your expenses, take a look at the fees you pay for your bank accounts.

You may be able to help avoid bank fees and save money by reducing your banking costs.

Find out what you can do to help avoid monthly maintenance fees

Some banks charge monthly maintenance fees to keep your accounts open and to perform transactions. You can find out if you’re currently being charged fees by talking to a bank associate or checking your bank account statement. Some banks will waive these fees under certain conditions. For example:

  • Your checking account maintenance fee may be waived if you set up direct deposit for your paychecks.
  • Checking or savings account fees may be waived if you maintain a minimum daily balance in those accounts.
  • Some banks may waive fees if the combined balance of both your checking and savings accounts meets a certain threshold.
  • Savings account fees may be waived if you set up a repeating automatic transfer from your checking account.
  • For Bank of America accounts, you can check the Personal Schedule of Fees to get more information on how to avoid monthly maintenance fees.

Be ATM savvy
Using ATMs that are outside of your own bank’s network can cost you extra money. Depending on your banking institution, you may have to pay both a fee to the bank the ATM belongs to and a fee to your own bank for every transaction. The simplest way to help avoid ATM fees is to use your own bank’s ATMs whenever possible. To make it easier, research the location of your bank’s ATMs or choose a bank with either a wide network of ATMs or one that waives ATM fees.

Be mindful of overdraft fees
If you make a transaction that exceeds what you have in your checking or savings account, you may be charged an overdraft fee. Alternatively, your bank may choose to not allow the transaction and instead charge you a fee for having insufficient funds, known as an Non–Sufficient Funds fee, also known as NSF: Returned Item fee. Thankfully, it’s not hard to help avoid overdraft fees if you protect yourself with a few safeguards.

  • Have your employer use direct deposit to put your pay check into your checking account. You get your money faster, and it saves you the hassle of going to the bank to ensure you have sufficient funds in your account.
  • Keep some money in your checking account to act as a “cushion” in case of unexpected expenses. It is suggested that you maintain at least $500 in your savings account as a backup in case that first cushion isn’t enough and you need to transfer money into your checking account.
  • Take advantage of both online and mobile banking to access your balance information anytime, anywhere. Remember to factor in recent transactions that haven’t appeared yet when determining your balance.
  • Set up alerts on your accounts to help you track your balance and spending. Your bank may enable you to set up alerts in online banking to be sent to your email or mobile phone if your balance goes below a set threshold.
  • Consider overdraft services. Many banks offer some form of overdraft solutions to help protect you from overdraft fees. For example, Bank of America accounts are automatically set to a standard overdraft setting that help reduce your chances of inadvertently overdrawing your checking account. This services stops (non-recurring) debit purchases if there isn’t enough money in your account or linked Overdraft Protection account. Learn more about Bank of America’s overdraft solutions. The Overdraft Protection service offered by Bank of America enables you to link your checking account to other accounts to help cover the cost of any overdrafts. There is no fee to set up the Bank of America Overdraft Protection service, but a transfer fee may apply when you use the service. Please refer to your personal schedule of fees for details.

These tips can help you avoid unnecessary bank fees and keep better track of the money in your checking and savings accounts.

Bank of America Help avoid bank fees, how to help avoid bank fees, help avoid overdraft fees, help avoid atm fees
How to Help Avoid Bank Fees, Overdraft Fees & ATM Fees Want to help avoid overdraft fees and ATM fees? Reduce your banking costs by learning how to help avoid bank fees today. How to Help Avoid Bank Fees, Overdraft Fees & ATM Fees Help avoid bank fees, how to help avoid bank fees, help avoid overdraft fees, help avoid atm fees

Managing the cost of banking

Learn how to get the most from your banking relationship and help reduce bank fees.

If you're looking to cut expenses and keep better track of your expenses, take a look at the fees you pay for your bank accounts.

You may be able to help avoid bank fees and save money by reducing your banking costs.

Find out what you can do to help avoid monthly maintenance fees

Some banks charge monthly maintenance fees to keep your accounts open and to perform transactions. You can find out if you're currently being charged fees by talking to a bank associate or checking your bank account statement. Some banks will waive these fees under certain conditions. For example:

  • Your checking account maintenance fee may be waived if you set up direct deposit for your paychecks.
  • Checking or savings account fees may be waived if you maintain a minimum daily balance in those accounts.
  • Some banks may waive fees if the combined balance of both your checking and savings accounts meets a certain threshold.
  • Savings account fees may be waived if you set up a repeating automatic transfer from your checking account.
  • For Bank of America accounts, you can check the Personal Schedule of Fees to get more information on how to avoid monthly maintenance fees.

Be ATM savvy

Using ATMs that are outside of your own bank's network can cost you extra money. Depending on your banking institution, you may have to pay both a fee to the bank the ATM belongs to and a fee to your own bank for every transaction. The simplest way to help avoid ATM fees is to use your own bank's ATMs whenever possible. To make it easier, research the location of your bank's ATMs or choose a bank with either a wide network of ATMs or one that waives ATM fees.

Be mindful of overdraft fees

If you make a transaction that exceeds what you have in your checking or savings account, you may be charged an overdraft fee. Alternatively, your bank may choose to not allow the transaction and instead charge you a fee for having insufficient funds, known as an Non-Sufficient Funds fee, also known as NSF: Returned Item fee. Thankfully, it's not hard to help avoid overdraft fees if you protect yourself with a few safeguards.

  • Have your employer use direct deposit to put your pay check into your checking account. You get your money faster, and it saves you the hassle of going to the bank to ensure you have sufficient funds in your account.
  • Keep some money in your checking account to act as a "cushion" in case of unexpected expenses. It is suggested that you maintain at least $500 in your savings account as a backup in case that first cushion isn't enough and you need to transfer money into your checking account.
  • Take advantage of both online and mobile banking to access your balance information anytime, anywhere. Remember to factor in recent transactions that haven't appeared yet when determining your balance.
  • Set up alerts on your accounts to help you track your balance and spending. Your bank may enable you to set up alerts in online banking to be sent to your email or mobile phone if your balance goes below a set threshold.
  • Consider overdraft services. Many banks offer some form of overdraft solutions to help protect you from overdraft fees. For example, most Bank of America accounts are automatically set to a standard overdraft setting that helps reduce your chances of inadvertently overdrawing your checking account. This services stops (non-recurring) debit purchases if there isn't enough money in your account or linked Overdraft Protection account. Learn more about Bank of America's overdraft solutions. The Overdraft Protection service offered by Bank of America enables you to link your eligible checking account to other accounts to help cover the cost of any overdrafts. There is no fee to set up the Bank of America Overdraft Protection service, but a transfer fee may apply when you use the service. Please refer to your personal schedule of fees for details.

These tips can help you avoid unnecessary bank fees and keep better track of the money in your checking and savings accounts.