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Save $48 by cutting out unneeded fees | Dollar Saver tip #71

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Save: up to $48 a year

Tip overview:

Bank account fees seem small in the grand scheme of things. But they add up. And when some banks charge no fees on their accounts, you really are paying money for nothing.

Check that you aren't paying bank fees for no reason. If you are, think about switching.

Did you know?

Savings accounts rarely charge you fees, but some transaction accounts do charge a monthly fee.

Let's say your bank charges you a $4 monthly account fee. That hardly buys you a cup of coffee.

But over 12 months that's $48. It's money for nothing. And many transaction accounts don't charge any monthly fees at all. Why not switch to a $0 fee account?

Some accounts charge you a fee if you don't meet certain conditions, like depositing or spending a specific amount of each month.

Read the fine print, count the cost of those fees and think about switching.

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