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Most Americans Waste $100 a Year on Bank Fees: How To Avoid This Costly Mistake

GOBankingRates Logo By Daria Uhlig of GOBankingRates | Slide 1 of 21: Most people open bank accounts to manage their money and build savings. Bank fees make both of those goals more difficult. Americans pay an average of $7.69 per month in fees, according to Statista, and that’s just for ATM, overdraft and monthly service costs. Add in fees for optional services, and your hard-earned cash really starts to dwindle. One obvious solution is to switch to a bank that has low or no fees. However, a 2019 study by J.D. Power found that 96% of bank customers keep their money where it is. If you’re one of them, there’s good news: You can get some of your bank fees waived, and you might avoid others entirely. Keep reading to find out how to stop bleeding money. Last updated: Oct. 7, 2020

Most people open bank accounts to manage their money and build savings. Bank fees make both of those goals more difficult. Americans pay an average of $7.69 per month in fees, according to Statista, and that’s just for ATM, overdraft and monthly service costs. Add in fees for optional services, and your hard-earned cash really starts to dwindle.

One obvious solution is to switch to a bank that has low or no fees. However, a 2019 study by J.D. Power found that 96% of bank customers keep their money where it is. If you’re one of them, there’s good news: You can get some of your bank fees waived, and you might avoid others entirely. Keep reading to find out how to stop bleeding money.

Last updated: Oct. 7, 2020

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