banking

7 financial habits that increase bank fees

Skipping reading through bank notices
Skipping reading through bank notices © racorn/Shutterstock.com

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.

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