Avoid 5 Banking Mistakes to Earn More Interest, Pay Less in Fees

Neglecting High-Yield Savings Accounts

Avoid: Sticking with low-interest savings accounts when high-yield options can offer better returns.

Ignoring Monthly Fees

Avoid: Overlooking accounts with monthly maintenance fees that can erode your savings.

Failing to Use Account Benefits

Avoid: Not taking advantage of account perks like ATM fee reimbursements or cashback offers.

Overdrawing Your Account

Avoid: Incurring overdraft fees due to insufficient funds in your account.

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Forgetting to Monitor Interest Rates

Avoid: Keeping your money in accounts with outdated or lower interest rates.

Neglecting to Check for Minimum Balance Requirements

Avoid: Falling below the required balance and incurring penalties.

Overlooking Automated Savings Tools

Avoid: Not using automatic transfers to build your savings consistently.

Not Reviewing Account Terms Regularly

Avoid: Missing changes in terms, fees, or interest rates that can affect your account.