Seven Tips To Avoid Those Nasty Debit Card Fees (2024)

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Seven Tips To Avoid Those Nasty Debit Card Fees (2024)

FAQs

Seven Tips To Avoid Those Nasty Debit Card Fees? ›

The easiest way to avoid any card surcharges is to pay for everything using cash. If you're not a fan of carrying around cash, you can choose to only buy from businesses that don't charge you to pay by card.

How do I avoid debit card transaction fees? ›

Ways to avoid ATM fees
  1. Get cash back. When you check out at a grocery store or other retailer, you'll typically have the option to get cash back with the purchase. ...
  2. Find in-network ATMs. ...
  3. Go digital with a payment app. ...
  4. Withdraw larger sums, less frequently. ...
  5. Open an account that reimburses fees.
Nov 2, 2023

How can I avoid debit card annual fees? ›

To waive these fees:
  1. Maintain the required minimum balance in your account.
  2. Set up direct deposit to meet the bank's requirements.
  3. Choose a bank that offers no-fee or low-fee checking accounts.
  4. Consider switching to an online or mobile-only bank, as they often have fewer fees.

How can I avoid debit card surcharge? ›

The easiest way to avoid any card surcharges is to pay for everything using cash. If you're not a fan of carrying around cash, you can choose to only buy from businesses that don't charge you to pay by card.

What are the nine things you should never put on a debit card? ›

Never Use Your Debit Card for These 9 Things
  • Online purchases. It's safer to pay with a credit card when shopping online, according to the U.S. Federal Trade Commission (FTC). ...
  • Gas. ...
  • Eating out. ...
  • Hotel reservations. ...
  • Car rentals. ...
  • Other rental items. ...
  • Big-ticket items. ...
  • Subscriptions and automatic purchases.
May 12, 2019

What are 2 positive financial habits that you can follow to avoid banking fees? ›

Here are some proven tips:
  • Utilize free checking and savings accounts. Many banks still offer them.
  • Sign up for direct deposit. ...
  • Keep a minimum balance. ...
  • Keep multiple accounts at your bank. ...
  • Use only your bank's ATMs. ...
  • Don't spend more money than you have. ...
  • Sign Up for Email or Text Alerts.

Can I be charged a fee for paying by debit card? ›

Is Debit Card Surcharging Legal? For debit cards and prepaid cards, surcharging is prohibited—even when the card is run as a signature-based transaction without the PIN. This restriction was implemented by the Durbin Amendment of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

When using a debit card there are always fees? ›

There may be fees for using your debit card. Examples: Some banks charge a fee if you enter a PIN (Personal Identification Number) to conduct a transaction instead of signing your name. You may trigger a fee if you overdraw your account using your debit card, just as you would if you "bounced" a check.

Do debit cards have hidden fees? ›

Many banks also charge their customers annual or quarterly debit card fees, account service, and maintenance fees. There aren't many answers to the question of how to avoid bank fees like this one.

Which bank has lowest debit card charges? ›

ICICI Bank: With the exception of coral debit cards, which have an AMC of Rs.499, ICICI Bank does not charge an AMC for debit cards. In addition, the bank charges Rs.25 for ICICI debit card PIN regeneration. HDFC Bank: Customers of HDFC Bank can avail ATM cards for free.

What should you not use your debit card for? ›

4) ATMs or checkouts that look off.

Identity thieves are getting more skilled with card skimmers, making them look more and more realistic. Remember, banks typically don't check these machines until they run low on cash, so a couple of weeks can go by before anything is discovered.

What is the fanciest credit card? ›

What is the most prestigious credit card? One of the world's most prestigious credit cards is the Centurion® Card from American Express*. Though there may be other cards with more elaborate benefits, those cards are kept well under wraps.

What states are debit card surcharges illegal? ›

States Where Credit Card Surcharges Are Illegal
  • Connecticut.
  • Maine.
  • Massachusetts.
  • New York (as currently interpreted)
  • Puerto Rico.

What is the biggest con to using a debit card? ›

Cons of debit cards
  • They have limited fraud protection. ...
  • Your spending limit depends on your checking account balance. ...
  • They may cause overdraft fees. ...
  • They don't build your credit score.

Can I put Sharpie on my debit card? ›

You should use a felt-tip pen, like a fine point Sharpie because the ink in a regular ballpoint pen will not stick to the card's plastic surface. To avoid smearing your signature and getting ink all over the card and your hands, let the signature dry for a couple of minutes before putting it in your wallet.

Why should you never only use a debit card? ›

You Won't Improve Your Credit Score

Since debit cards aren't based on credit, they won't help you build it with each use. With a debit card, you aren't borrowing credit for purchasing. Each time you use it, you are withdrawing directly from your checking account.

Which debit card has no transaction fee? ›

BankBest forExpert score
StarlingBest for fee free spending & customer service4.7/5
first directBest for fee free spending & added extras4.5/5
ChaseBest for fee free spending & cashback4.4/5
KrooBest for fee free spending & in-credit interest3.9/5
Jan 16, 2024

Is it legal to pass debit card fees to customers? ›

Surcharge fees are strictly limited to credit card transactions only. Even if a client wishes to run a signature debit transaction, where a debit card is processed as a credit transaction, you are still not allowed to implement a surcharge. Surcharges are also not applicable to prepaid cards.

Why do some places charge a debit card fee? ›

Why are small businesses charged debit card fees? Both debit and credit cards require sellers to pay a range of fees every time a transaction occurs because a lot of entities are involved whenever a card is used—and all of these entities want something in return for their services.

Does Bank of America charge a fee for using an ATM or debit card? ›

As a Bank of America account holder, you don't incur fees for withdrawals, transfers or balance inquiries at ATMs displaying the Bank of America name and logo. (Cash advance fees may apply to credit card accounts; please see your credit card agreement for details.)

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