Avoiding Account Fees

  • Financial Education
Jun 29, 2022
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Costs for basic goods and services increase with each passing day. That makes it all the more difficult when your hard-earned money is taken away by unnecessary fees. Knowing how to avoid fees can save you money and keep you financially healthy.  Here a few simple things you can start doing right now to help you avoid fees.

 

Learn About Your Overdraft and Insufficient Funds Fee Options

An overdraft or insufficient funds fee occurs when you spend more that what you have available in your account. Overdraft protection options are available to help you avoid fees and manage your finances when things become a bit tight. An Overdraft Protection Loan is an is an open-ended line of credit that can help you avoid the inconvenience and expense of bounced checks, declined debit card purchases, and other checking account transactions. When needed, funds will automatically be advanced into your checking account to cover your purchase or cleared check in the event it becomes overdrawn. Apply today or contact us at 860-563-2617 to learn more about our Overdraft Protection Loan.

Use Digital Banking to Monitor Your Accounts

The easiest way to find your account balance is to check it regularly in Digital Banking. Whether you use a computer or a mobile device, Digital Banking will provide you with up to the minute information on all your accounts. Remember to check your account balance before making a purchase. This gives you a chance to wait on making that purchase until you have more money available, or allows you to transfer money from your savings account to cover your purchase. The more frequently you check your balance, the more empowered you are to know what you can spend. If you aren’t already a user, enroll in Digital Banking today.

Sign Up for Account Alerts

With account alerts, you’ll be notified if your account balance falls below a specified amount. This helps prevent you from overdrawing your account and incurring associated fees. Other alerts are also available in Digital Banking, including transaction alerts. Learn how to set up your account alerts today.

Register for eStatements and eNotices

Many financial institutions charge fees for paper statements and notices. Paper statements and notices also pose more risk for identity theft, since fraudsters can steal your mail and get your personal information. You can protect your identity, save money, and help save the environment by switching to eStatements and eNotices. Registration is fast and easy. Begin the registration process today

Use Surcharge-Free ATMs

ATMs are a convenient way get cash without having to visit the credit union, but using ATMs that charge fees can cost you a lot in the long run. We know how important it is to have free access to your money, and that’s why we have partnered with ATM networks to provide more than 90,000 surcharge-free ATMs worldwide. Say goodbye to ATM fees by finding your most convenient surcharge-free ATM.

 

Proactively monitoring your accounts, understanding your account options, and opting for fee-free services saves you money and helps you stay financially secure. Dutch Point Credit Union in Connecticut is here to help you manage your finances and help you save money. Contact us to discuss your accounts in more detail or to get assistance setting up these services.

At Dutch Point, it's all about you. We empower you to make financial decisions that are right for you. We pledge to help you meet and exceed your financial goals through all the stages of your life.