Life already throws enough costs your way. The last thing you want is to pay extra money for the place you are keeping your money safe, whether you use that bank account to cover daily transactions or to build up your savings.

Not only are fees an inconvenience, they can also take a big bite out of your available funds. A 2024 banking survey by Ernst & Young “found that bank fees have reached nearly $82 billion a year, or about $311 for every adult in the U.S.,” said CNBC Select . But if you are strategic, you stand a solid chance of steering clear of the most common costs that hit account holders.

Make sure to meet any minimum balance or other requirements

A common fee you will run into at banks is a monthly service fee, which is a cost simply for having your account up and running

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