Bank Fees You Can Avoid.

Banks love to open new accounts for college students. That’s why banks set up tables and booths on campus at the start of the school year with giveaways if you open an account on the spot. Most college students have very little or no experience dealing with banks before going to college, so banks can nail them for fees that older, more experienced customers have learned to avoid. Banks earn billions of dollars a year from these fees. Here are some common bank fees that you can avoid.

Overdraft fees. These can be expensive. They typically run $25 to $35 per check. You can avoid overdraft fees by monitoring your balance with a free smartphone bank app or signing up for email alerts that tell you when you balance is getting low. You should opt out of bank overdraft protection plans that set you up to overdraw on your checking account. If you have more than one account at your bank, like a checking account and a savings account, you can often link them together so that if there isn’t enough money in your checking account to pay a check, money is automatically transferred into your checking account from your savings account, avoiding an overdraft fee.

ATM Withdrawal Fees. These are less expensive, typically $2 or $3 per transaction, but they can add up. You can avoid these fees by using your own bank’s ATM machines or by using your supermarket’s cash-back feature when you pay with a debit card, which at most banks is also your ATM card.

Checking account monthly fees. These typically run $8 to $15 a month. Recurring monthly fees like these can really add up over time. If you are paying your bank a $10 a month account fee, that will cost you almost $500 over 4 years. Some banks offer free checking accounts if you sign up for other bank services, like direct deposit. You can also switch your checking account to a credit union or a branchless online virtual bank where free checking is common.

Check printing fees. Some banks charge $75 for printing checks. A lot of people assume that you have to get your checks printed by the bank where you have your account, but that isn’t true. You can get your checks printed anywhere. Costco has the best deal on check printing. You can get 500 printed-to-order high quality checks from Costco for just $12 to $15 with free shipping. Licensed character checks, like Finding Nemo or Mickey Mouse checks cost $5 more. If you do not have a Costco membership card, you probably know somebody who does. You can order checks from Costco online. You don’t have to go to a Costco store.