Broken Piggy Bank / Flickr
CCN Money made a list of the 9 most annoying bank fees and included information as to why banks charge the exorbitant fees. Here are the nine pesky bank fees and my suggestions to avoiding them.
- Forgetting to update your address – If you are moving, make it your top priority to call your bank and change your mailing address to avoid this fee. I have a post office box where I have important mail delivered for security reasons and to avoid having to deal with address changes.
- Cashing in your coins – Coin-counting fees at many banks run at 5% or more. In my post about gift cards with perks, I shared that Coinstar no longer charges you a fee if you receive your money as a gift card. If you were planing on getting a gift card, then this will save you money.
- Talking to a human teller – I hate this one in particular. I can’t go into my bank. I can only use the ATMs or else I’ll get slapped with a $8.95 fee for the privilege of talking to a teller. My solution is calling and emailing the bank when I have a question. Thankfully, this has worked fine.
- Losing your debit card – Keep your card in a safe place if you don’t use it often. If you do misplace it, don’t let the fee deter you from calling the bank immediately to let them know. It’s better to pay a small fee than lose all your savings.
- Getting a paper statement – Bank online. If you’re hesitant because of all the recent data breeches, make sure to follow all security measures to keep your information safe.
- Requesting old statements – If you bank online, you’ll be able to download your statements, save them and print them. Some banks only let you go back for a certain period of time, so make sure to download and save all statements and print as needed.
- Receiving money – Make sure to read the fine print before opening an account. If you are someone that regularly gets money wired, then make sure to find an account where this fee is nonexistent.
- Redeeming your rewards points – Before opening an account based solely on the rewards, make sure to ask if they are free. It they are not, ditch the bank.
- Closing your account – If you can’t stand your bank and want to move, do so. Just make sure to find out how many days after opening your account you’ll have to wait to avoid a fee.
Do you agree these are the most annoying bank fees? What bank fees have you been slapped with and what steps have you taken to prevent them in the future?
Welcome to Bargain Babe! I’m Mara, and I’m so glad you’re here. I am an obsessive bargain hunter and penny pincher, and I am determined to live a full life without EVER paying full price.
2 weeks ago closed my business account with chase…had this account more than 16 years…this account goes up and down, high balnces and low balances…when I opened it, years ago, was told there would never be a charge…they started charging $15 a month…moved my account to US bank
@William Was this in writing?
I had a similar experience with my Chase equity line of credit account, which I was told was free of charges when I opened the account. Of course, this was before Chase took over the bank, and started making all kinds of changes. I remember canceling a credit card with Chase years ago because of their very questionable business practices. Looks like I’ll have to shop around for a new bank… although most seem to be doing the same things these days!
I have Chase too. Very unsatisfied with them! I also have a credit union account, and very dissapointed that they are starting to apply many of the same rules as regular banks. :/
Look into a credit union. At mine, no fees are charged for cashing in my coins, getting cashier’s checks or talking to a human being. I get great rates on auto loans, can use points I earn to buy boxes of checks, increase my interest rate on some investments or, well, the list goes on. I have fee-free access to several banks’ ATMs. It’s a great deal!
@Donna What’s your credit union?