Have you ever been surprised by unexpected bank fees showing up in your account? You’re not alone. Whether it’s an overdraft charge, a minimum balance penalty, or a random ATM fee, small charges can add up quickly, especially if you’re new to banking or switching to a new financial institution. St. Louis banker Ashley O’Neal explains how to sidestep the most common bank charges, like overdraft fees, minimum balance fees, and ATM surcharges.
At Midwest BankCentre, we know how important every dollar is to our customers. That’s why we believe that understanding how to avoid bank fees is more than just a good habit; it’s a way to take control of your financial future. With the right tools, support, and a few simple strategies, you can protect your money and stay one step ahead of those pesky charges.
How to Avoid Overdraft Fees
Overdraft fees are among the most common and costly charges customers face. They happen when you spend more than what’s available in your account, causing your balance to dip into the negative and triggering a bank account fee. Fortunately, with just a few smart habits and the right tools, you can steer clear of them altogether.
Track Your Spending Carefully
The first step to avoiding overdraft bank account fees is knowing what you have in your account at all times. While it might sound simple, it’s easy to lose track, especially with auto-payments, online subscriptions, and daily transactions adding up.
Midwest BankCentre’s mobile banking app helps you stay ahead. You can check your balance anytime and even set up real-time alerts to notify you when your balance drops below a certain amount. This allows you to make informed decisions before swiping your card or initiating a transfer.
Pro Tip: Set low-balance alerts at $50 or $100 to give yourself enough time to adjust before you overdraft.
Maintain a Buffer in Your Account
Another practical habit? Keep a small buffer—think of it as your “just in case” cushion. Even $100 set aside in your checking account can act as a safety net when unexpected charges hit.
Building this buffer gradually is doable. Try setting aside a few dollars from each paycheck. Over time, this adds up and creates peace of mind knowing you have a fallback.
Ways to Avoid Minimum Balance Fees
Minimum balance fees can sneak up on you if you’re not paying attention to your account’s requirements. These bank account fees are charged when your balance drops below a set threshold for your specific account type. The good news? They’re easy to avoid with a little planning and awareness.
Utilize Direct Deposit
One of the most effective ways to consistently maintain your balance is to set up direct deposit. When your paycheck is automatically deposited into your account, it helps keep your balance stable and reduces the chances of falling below the minimum required amount.
Not only does this help you stay on top of your finances, but it also ensures faster access to your funds, making budgeting and bill-paying more efficient.
Quick Tip: Ask your employer’s HR department for their direct deposit form; it usually only takes a few minutes to complete.
Know Your Account Requirements
Each checking or savings account has its own fee structure. It’s essential to know the specific terms tied to your account, including the minimum balance required and the fee amount if that balance isn’t maintained.
Take a few minutes to review your account details with our online banking services or with a banker. At Midwest BankCentre, we’re happy to walk through your options and help you choose an account that fits your banking habits and financial goals.
How to Avoid ATM Fees
ATM fees can feel like an unavoidable expense, especially when you need quick cash and there’s no familiar bank branch in sight. But with a little planning and the right tools, you can avoid these charges altogether.
Leverage ATM Networks (MoneyPass®)
Midwest BankCentre partners with MoneyPass®, a nationwide network of ATMs that allows you to withdraw cash without incurring a fee. Instead of paying $3–$5 every time you use an out-of-network ATM, you can use your mobile banking app to find fee-free options nearby.
Here’s how:
- Open the Midwest BankCentre mobile app.
- Tap the MoneyPass link.
- Let the app scan your location.
- Choose a nearby ATM within the network
You’ll be directed to the closest participating ATM: no fees, no guesswork.
Tip: Bookmark your nearest MoneyPass locations at home and work so you’re never caught off guard.
Plan Your Cash Withdrawals
If you regularly need cash, try to withdraw slightly more during each visit to a fee-free ATM. This reduces the number of transactions you make and your exposure to potential fees. Also, consider keeping a small amount of emergency cash on hand when traveling. This helps you avoid ATM usage in unfamiliar areas where fee-free machines might be limited.
Stay Ahead of Fees with Smart Banking Habits
Bank fees may be common, but they’re not inevitable. By staying informed and using the tools available, like mobile banking alerts, ATM locators, and direct deposits, you can take simple steps to avoid the most common charges. At Midwest BankCentre, our goal is to help you keep more of your hard-earned money where it belongs: in your account. Whether you’re just getting started or looking to fine-tune your banking habits, we’re here to support you with local service, trusted advice, and financial tools that work for your life.