smart spending

7 effective ways you can tackle high fees

Take advantage of social media
Take advantage of social media © PromesaArtStudio/Shutterstock.com

In 2011, Verizon Wireless charged a $2 payment fee that was quickly repealed. Also that year, many major banks dropped debit card usage fees that ranged from $3 to $5 per month.

What do these announcements have in common? The negative consumer outcry on social media convinced the companies to drop the high fees.

"Using social media is a new, successful way to complain (and) to get millions of unhappy consumers heard," Breyault says. "Companies act faster when complaints and negative comments are all over their Facebook wall or Twitter feed."

Getting help

  • Search Facebook for a company page and look for any complaint posts and the company's response.
  • On Twitter, search hashtags to identify and organize a complaint. Use a topic, company name and the word "fees" or "complaints." Examples would be: #VerizonFees or #BankOfAmericaComplaints.
  • Post or tweet your complaint about the company. If you get a response, save a hard copy of any correspondence.

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