Feb
11

Stay Ahead of Your Bank’s New Checking Account Policies

February 11, 2012

Be sure you know what writing a check may cost youIt’s no secret that banking fees have been going up for years, and this year is no different. While outcry stopped a number of large banks from charging monthly fees for debit card use, other charges have slipped in. New charges make it harder to

save money, such as the now-prevalent balance requirements. These charge you for the bank earning interest on your own money while they hold it. Eve Becker, finance expert with the Equifax Finance Blog, has a critical look at a number of these new and growing fees and how you can avoid them in her article, “

Saving Money On Banking Fees.”

As new regulations have cut down on overdraft fees and fees on debit card transactions, banks have had to find another way to make up the income. That doesn’t mean it has to come from your pockets. Like any other business, you are free to take your money elsewhere. There are plenty of credit unions, community banks and other institutions that offer reduced fees and free services for you to take advantage of in order to keep your

personal finances strong.

If you plan to stick with your bank, there are a few things you can do–especially if you are tech savvy. For instance, banks are often now charging for paper statements. Save trees and your own green by checking your accounts online, and be sure to plan around your balances. That way, you can avoid overdraft fees. So that you aren’t hit with a fee for using another bank’s ATM, use Google Maps or a similar service to map out where your bank’s ATMs are located in relation to where you live and work.

There is additional explanation about new fees and how to avoid them in the full article, so be sure to check it out for more ways to protect your personal finances. Read the

Equifax Personal Finance Blog for all the best ways to save money and live better when it comes to credit, insurance, taxes, retirement, real estate and everything else money-oriented.

Categories: Economy, Education

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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