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Money Management

5 Ways to Avoid Extra Fees on Your Checking Account

No one wants to spend their hard-earned money paying for extra fees. The good news is there are so many free tools and resources available to help, you may be able to avoid fees altogether!

Here are a few quick tips on how to avoid paying overdraft, NSF, and other fees on your checking account.

Check Your Account Requirements

Do you know what the requirements are to avoid fees on your account? Some checking accounts require a minimum balance to avoid paying a fee; others require direct deposit or a linked deposit account. Double check your account to be sure you know what the rules are, so you can avoid paying any unnecessary fees.

Set Up Alerts in Mobile Banking

Connecting to your account with Mobile Banking is like having a branch at your fingertips. Once you download the app, it only takes a few minutes to set up free alerts in Mobile Banking that can help you keep tabs on your balance so you can avoid overdraft fees. Choose a low balance or daily balance alert to stay on top of your balance, or a large withdrawal or direct deposit alert for more updates on transactions. Watch a quick video to see how to set up alerts.

Use Online Bill Pay

Online Bill Payment makes life easier, and it’s a simple way to ensure you’re paying your bills on time. Stay on top of your bills and avoid late fees by paying your bills directly through your Credit Union checking or savings account. It’s simple to set up payees in the app or online, and schedule your bill payments ahead of time so you won’t miss the due dates.

Review Your Overdraft Protection Options

When's the last time you checked how overdraft protection is set up on your account? Some checking accounts offer overdraft protection through a linked deposit account, such as a savings or other checking account. When you overdraw your checking account, any additional funds are automatically pulled from your secondary linked account.

Other checking accounts, including our Plus Checking account, offer another layer of overdraft protection with a personal line of credit for overdrafts. You’ll pay interest on any amount borrowed, but you can pay it off immediately or over time with no penalties or extra fees.

Be sure to check up on your current overdraft protection options to ensure they still fit your needs and your lifestyle.

Check your ATM Network

When using an ATM, try to choose one that is affiliated with your bank or credit union. Some banks charge a fee for using an ATM that is outside of your network, on top of the fee the ATM operator may charge you.

If you’re a Credit Union Member, it’s easy to use one of the more than 30,000 CO-OP ATMs throughout the nation. Use our ATM Locator online or in our Mobile Banking app to find a fee-free ATM anywhere in the United States.

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