9 Easy Banking Tips You Haven't Heard of Before

9 Easy Banking Tips You Haven't Heard of Before

Nina Derwin   Fri, May 12, 2023

Whether you are brand new to banking or you’ve had the same bank account for several decades, it’s never too early or too late to change up your banking strategy. Earning money is hard enough, and banking shouldn’t make it harder still to hold on to your dollars. Taking small steps and implementing these key tips can help you save money and avoid surprise surcharges and banking fees.

Make sure your accounts stay active.

It is not uncommon for banks to close your account if it goes untouched for a prolonged period of time. Banks may instead opt to charge you a fee for your dormant account.

Stay informed about banks besides your own.

Just because your bank offered great benefits when you opened your account doesn’t mean they are still the best in the game. Compare what other banks are offering to ensure you get the lowest fees and best APY for your savings.

Be proactive about closing accounts.

If you no longer wish to have a particular account, don’t just abandon it. Let your bank know so they can close the account and you can avoid paying low balance or dormant account fees.

Read the fine print before closing an account.

Some banks charge fees for closing an account too soon after opening it. Before closing your account, make sure to read the terms and conditions to ensure you aren’t hit with an additional charge.

Don't close an unused credit card.

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