10 Sneaky Banking Fees


Membership Fees

If you want lower banking costs, consider joining a not-for-profit, members-only credit union instead of a bank. You'll pay a small membership fee upfront, but that goes toward covering the credit union's costs, and in exchange, you can enjoy lower costs for their services.

And in some cases, membership fees might be accepted as a refundable deposit instead of a charge. For example, a credit union might require you to deposit and maintain a certain dollar amount in a savings account when you join, though some credit unions may penalize you if you fall below that amount [source: SECU and Coastal].