Checking fees: Banks say cha-ching, you feel the zing.

Checked in on your checking account lately? You should. Go online right now, poke around – take a really close look at your recent 30-, 60- or 90-day history. Notice any “service charge” or “transaction fee” entries popping up in the withdrawal column? Ding. That’s the sound of your friendly neighborhood bank slapping you with another checking account fee. Which, more than likely, you didn’t know existed in the first place.

Surprised? Millions of Americans are unwittingly generating hundreds of billions of dollars in fee-based cash for banks this year. Maybe it’s a few bucks from using an “out-of-network” ATM. Or worse, it’s a nasty $35 zing for the “courtesy” of letting you overdraft your account by a few dollars last week. Either way, those pesky fees are wrecking your checking. Legal? Yes. Avoidable? Absolutely.

It seems that banks have conjured up all kinds of meaningless and shady checking account service fees. And they’re on the rise big time. But with a little research, common sense and diligence, you can shield yourself from getting dinged, zinged and otherwise cha-chinged each time you want to access your money:

ATM Fees: Need cash to pay those antiquated vendors who still don’t accept debit cards? Is your bank’s ATM network surcharge free? Plan how much you’ll need for the week and make one ATM stop to cover those expenses. More importantly, be sure to scope out or at least find “in network” locations on a map when you need cash. And beware of getting double teamed by fees—like when, say, you pay $2 to pull money from the ATM in your local minimart, and your bank charges you an additional $2 or $3 for using a machine that’s not part of their network. If you can’t find an “in network” ATM nearby, try hitting the cash machine less often and grab what you need for the week. Consider using your debit card to get cash back when you shop at the grocery or drug store.

Overdraft Fees: This year, Americans will pay more than $38.5 billion (yes, that’s a “b” like baloney) in overdraft fees alone. FAIL! Most banks automatically enroll you in overdraft protection. You should be the one to decide whether or not you want that kind of protection. Most of the time, you don’t. Tell your bank you’d like to “opt out” of the overdraft protection. If you really need a buffer, consider an account that offers a line of credit with a low interest rate.

Bank Transfer Fees: Also called ACH Fees, these are charges to move your money – electronically, mind you – from one bank to another bank. Excuse us, but don’t you already pay an “electric” bill? This type of transfer costs your bank nothing and should cost you the same. Find out if your bank charges for electronic transactions. If so, call them out on it and whenever possible, initiate transfers from banks that don’t charge.

Annual, Account Maintenance and Minimum Balance Fees: Ding, ding and ding – for no good reason and regardless of your balance.

We say enough’s enough. Be mindful, read the fine print and challenge your bank on their fee policies. If you don’t like what you hear, find a bank that offers high value and convenience – without the bogus fees. Banks should be more transparent and accountable, yes. And it’s your responsibility to be more in the know.

Tags: ACH, ATM, Balance, Checking, Fees, Maintenance, NSF, Overdraft, Transfer