Currency Basics

Types of Hidden Bank Fees – What to Look Out For


A bank should keep your money save at all times. Is that what you thought? If so, then you’re not aware of the hidden fees and how to avoid them in the long run.

Be smart enough and careful, and you’ll surely avoid most bank hidden fees and save more money in your bank account.

Here are some significant hidden bank fees and how to avoid them.

Overdraft Fees

Overdraft is that cost incurred when you have surpassed the amount of money in your account, and you’re still using the debit card to pay for stuff. It means that you’re spending more money than what you have in your bank account.

Most bank charge about $35 and they give you a maximum of about four times a day. Let’s say you’re not aware that you don’t have any money in your account. And when you enrolled in that bank you signed an overdraft protection. When you purchase an item for $2, you’ll be charged another $35. For instance, if you make four payments in a day of $2 each, that’s $8, and since your account has no money you’ll pay an overdraft of $35, four times, that’s about $140. In total, you will have spent approximately $148 for a payment of $8.

How to avoid?

  • Opt out from the overdraft protection.
  • Always keep watching your balance before you buy or pay for anything.
  • You can set up mobile alerts for your bank account.
  • You can even link your bank to a credit card; the fee is much less than the overdraft one.


ATM Fees

These are the most common bank hidden fees, and they increase over time. The banks in the 90s used to charge a fee less than one dollar, and nowadays they charge about two and a half ($2.50). And if you decide to use another bank’s ATM, you pay about $4 for just a single withdrawal. That’s known as out-of-network ATM.

How to avoid?

  • Stick your own bank ATM.
  • Bank online.
  • Get cash back where you can pay in a store and ask for that payment in cash with no fees.

Maintenance Fees

These are fees put in place to maintain your bank account and keep it open and not dormant. The average pay is about $15 per month, and that’s why you should look out for ways to avoid maintenance fees.

How to avoid?

  • Being a student since their accounts are free from any maintenance fees.
  • Use your debit card more often.
  • Direct deposits once in a while


Lost Card Fees

When you lose your debit card, you’ll be required to replace almost at the same amount of money you acquired it. How to avoid?

  • The best way is not to lose it or choosing a bank that does not charge the replacement fee.



If you find your bank is eating up more of your money, then you need to avoid or at times minimize the fees. There are many bank fees, and they include foreign transaction fees, paper statement fees, inactivity fees as well as excess activity fees. Learn how to avoid or reduce the Hidden bank fees.


Facebook Comments


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

About Absolute Currency

At Absolute Currency our mission is to be the best currency news adn information providing a vast array of knowledge, market updates, and resources in the financial markets. Our goal is to be the ultimate one stop destination for anyone that has an interest in or questions regarding currency. We strive to maintain a truthful and unbiased compendium of knowledge, both in content, product reviews and information and more. No buy, sell, or hold recommendations. Past performance does not guarantee future results.
January 2019
« Aug    

Copyright © 2017 Commerza. All Rights Reserved

This copyrighted material may not be republished without express permission. The information presented here is for general educational purposes only.

MATERIAL CONNECTION DISCLOSURE: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this page and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this website or email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. This website contains advertisements. If you find reports or news to be in error, contact our support desk with the correct information and proof for us to correct any errors. This website is AS IS and we make no claims nor warranties.

Powered by Commerza.

To Top