Try these 5 tips for avoiding unnecessary banking fees
03 Apr 2025

Banking fees can add up pretty quickly, taking a toll on your financial health. Most of us remain oblivious to the minute charges that grow over time.

But, by knowing how these fees work and taking a few proactive measures, you can minimize or even do away with them.

Here are some practical tips to avoid unnecessary banking fees, leaving more money in your pocket.

Monitor your account regularly
Account monitoring

Regularly checking your bank account is essential to avoid unexpected fees.

By keeping an eye on transactions, you can quickly spot any unauthorized charges or errors.

Most banks offer online and mobile banking services which make it easy to monitor your account from anywhere.

Setting up alerts for low balances or large transactions can also keep you informed and help you avoid overdraft fees.

Opt for direct deposit
Direct deposit benefits

Using direct deposit for your paycheck can help you avoid certain banking fees.

Most banks waive monthly maintenance fees if you have a regular direct deposit set up with them.

Not only does this save money but also ensures timely access to funds without having to visit a branch or ATM too frequently.

Maintain minimum balance requirements
Minimum balance strategy

Some accounts also need keeping a minimum balance to avoid monthly service charge.

Familiarizing yourself with these requirements is important to avoid unnecessary deductions from your account.

If holding the required balance is difficult, switch to an account with no minimum balance requirement or lower thresholds.

Use in-network ATMs only
ATM usage tips

ATM fees can be expensive if you are using machines outside your bank's network.

To avoid these charges, plan ahead and use only in-network ATMs, whenever possible.

Many banks also provide maps or apps showing their ATM locations, making it easier to find one nearby without incurring extra costs.

Review bank statements carefully
Statement review

Carefully reviewing your bank statements each month helps flag any incorrect charges or unfamiliar transactions that could lead to additional fees if left unchecked.

Disputing errors immediately with the bank ensures they're corrected before creating additional problems down the line.

Keeping a track of your spending habits helps you with better financial management overall.