Just because Bank of America ditched their $5 debit card fee doesn't mean that big banks are done charging fees. If you're reading this and you're still part of a big bank . . . uuhhhmmm . . . why are you still part of a big bank?
But seriously, heads up on a few of these fees that tend to get lost in the muck. Thanks to the New York Times
for the details!
While many financial institutions charge for lost debit cards, some places don't make this a well-known fact. Make sure you have a detailed list of all the fees your institution charges so you don't get blindsided!
Think it's cool that you can deposit checks with a mobile phone? It is. But make sure you're not getting charged for using this service!
If you need cash wired to your account, you might get slammed with a fee - not cool if you're stranded somewhere!
Banks who want to go paperless may charge for paper statements, so ask before you get charged a fee. With the legal action taken to reduce debit fees, banks have to squeeze a little tighter, and going green might be one way they're pinching their own pennies.
And while banks might not be charging large fees up front, other already-established fees might be creeping up slightly without much notice, pulling in money without the PR nightmare. Make sure you are routinely comparing your rates with other institutions to see where you're getting slammed the most.
Credit unions typically charge fewer fees, but it's important to review ALL policies so you aren't caught off guard, even if you're a member of the glorious credit union family!
As Mad-Eye Moody would say, "Constant vigilance!"