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To help you better understand and minimize bank fees, GOBankingRates reached out to experts for their tips.
Heres what banking experts suggest you do toavoid wasting money on fees.
Understand Account Minimums
Vrinda Gupta is the CEO and co-founder ofSequin, a women-focused banking company.
Her first piece of advice focuses on understanding account minimums.
These are often hefty usually about $35 per transaction and can add up quickly.
This fee averages around $34 per declined transaction.
She said, Take a few minutes to take a look at dormant accounts and verify those are closed.
Sallenave said that its usually between $5 and $12 but can quickly add up.
you’re free to usually have this fee waived by carrying a specific balance.
This can turn into a larger charge if the ATM provider has a separate cost as well.
To avoid these ATM fees, Sallenave suggested sticking to ATMS within your banks online grid.
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