Shop around for banks that offer no-fee or low-fee accounts, as well as accounts that pay high interest.
2
Not Reading the Fine Print
Know the details before opening an account. Are there things you need to do to earn the interest rate? Can your spouse share the account? Are there transaction limits?
3
Not Doing an Annual Check-In
Terms and conditions may change over time. Banks could lower your APY, adjust the fee schedule or add transaction restrictions.
4
Not Taking Advantage of Online Tools
Many of your banking needs can now be taken care of online, saving you time and potentially money. You also might be able to earn more rewards by taking care of payments digitally.
5
Paying Overdraft Fees
The easiest way to avoid overdraft fees is to choose a bank that doesn't charge them. You can also opt out of overdraft protection so that a transaction is declined if you don't have enough money.
6
Leaving Too Much in Your Checking Account
Checking accounts often don't pay interest, so keeping too much money in these accounts means missing out on the interest it would earn in a different account.