Call 4 Action

Call 4 Action

Reducing Bank Fees

Karen Stiles

Are you getting fed up with excess banking fees?

Well, you’re not alone.

The TODAY'S TMJ4 Call 4 Action office has gotten a number of calls from consumers who tired of paying excess ATM, dormant account and other fees.

If you are one of the many who are trying to fight back against these fees, here is what you can do.

Before you open an account or just accept these fees as a part of doing business, shop around. You may find that another bank or credit union can offer the same or better account with lower or no fees at all.

Also, think about how you will be using your account and set one up that best matches the way you bank. For example, if you tend to do a lot of ATM transactions, make sure that you have an account that allows for multiple transactions at a number of locations at little or no cost.

If you have to pay a fee to use an ATM, avoid making frequent transactions for small amounts. Even though the fee may only be two or three dollars at a time, excess transaction fees can really add up. You might want to withdraw larger amounts less frequently to cut down on these costs.

If you get surprised by a fee that you were not expecting such as a dormant account fee, ask to speak to a supervisor. They may be willing to offer you a one time credit.

Take some time to evaluate and change how you bank. It could save you hundreds of dollars per year.

On Demand