Bank fees can add up and cost you a significant amount over the year. While the fees may seem small individually, they can add up significantly over time.
David Koch gave some pointers on how to save yourself on bank fees.
To avoid paying more than necessary on bank fees go through your statement and highlight all of the fees that you are paying. These will be transaction fees, withdrawal fees, late payment penalties and overdrawn account charges.
Once you have these listed you can compare them to the market standard to see if you are paying over the odds unnecessarily. Simply changing banks can save you upwards of $10 a week in some cases.
You should also look at the conditions under which the charges or penalties are applied. Often they can be avoided by simply using the ATMs for your own bank. Paying bills on time and avoiding your overdraft will also help you to avoid the unnecessary cost of fees each month.
