Stash Your Cash
Tips for Better Banking
- Shop around before you choose a bank and/or checking or savings account. Visit Bankrate.com to compare fees and rates between banks. Also review the checking account basics.
- Monitor your bank account balance. Keep track of your expenditures and be sure to regularly balance your account.
- Pay attention to the fees charged by your bank. For example, do you have to keep a minimum balance in your account in order to avoid a monthly charge? Ask your bank for a detailed fee sheet.
- Do not give out the pin number for your ATM/debit card.
- Use only your bank's ATM machines so you can avoid extra fees.
Take the Quiz-
Approximately 10,000,000 Americans, the "unbanked" are not using mainstream, insured financial institutions.
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In 2000, Americans cashed 180 million checks at 11,000 check-cashing outlets, generating fees of $1.5 billion.
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Banks offer online saving accounts with higher interest rates than regular savings accounts.
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FDIC- insured financial institutions carry government insurance on your deposits for up to $100,000.
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Checking account holders will pay more than $10.3 billion in overdraft loan fees each year.
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46% of all bank account overdrafts were triggered by debit card transactions.