7 financial habits that increase bank fees

Skipping reading through bank notices
Skipping reading through bank notices © racorn/

If you regularly delete or throw away notices from your bank without looking at them, you could miss important information. "Financial institutions are required to disclose updates to their fees," says Blake Lyons, vice president of marketing and business development at Randolph-Brooks Federal Credit Union based in Live Oak, Texas.

When it comes to staying on top of adjustments made to your bank accounts, the more tools you can use, the better, Lyons says. Check the bank's website regularly and consider signing up for electronic alerts to stay updated on new bank fees.

Once you're aware of an upcoming change, you can take measures to avoid the fee. For example, you learn of an increase in foreign transaction fees at your bank. The next time you travel abroad, you might consider paying in cash or using a credit card that charges lower fees.


Show Bankrate's community sharing policy
          Connect with us

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Ask Dr. Don

Duped by 1970s bond scam?

Dear Dr. Don, Back in 1976, there was a chain letter scam involving savings bonds. I got caught up in it. You could buy a bond for the person at the top of the list and you were then supposed to receive many more in return.... Read more

Partner Center

Connect with us