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8 ways to spend less on your checking account

1.

Go for a no-frills, free checking account. No monthly service charge, no minimum balance and no per-item service charges.

2. Stay up-to-date on your checking balance. You'll avoid overdraft fees and can better track what goes in and out.
3. Know your bank's check-processing order and how long your bank holds your deposit. You'll avoid bouncing a check due to timing.
4. Consider having paychecks directly deposited into your account for faster access.
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5. Avoid paying insufficient fund fees and overdraft fees by regularly balancing your checkbook. Keep an accurate record of every check, deposit and electronic fund transfer.
6. If you bounce a check, and it's the first time, ask for forgiveness including waiver of any fees. A bank will do that for good will. Of course, don't become a repeat offender.
7. If your account must maintain a minimum average balance, check your daily balance summaries. Make sure your account is in compliance to avoid paying fees.
8. Don't order new checks through the bank. Order new checks through one of the discount catalogs or through an office-supply warehouse. The savings are substantial.
 
 
 
-- Posted: Aug. 20, 2004
     

 

 
 
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