How do I avoid debit card annual fees?

How to Avoid Debit Card Annual Fees

Debit cards often come with annual fees that can add up over time. However, there are ways to avoid paying these fees, such as:

• Choosing a bank that offers no-annual-fee debit cards: Many banks offer debit cards that do not have annual fees. Research different banks to find one that meets your needs.
• Using your debit card often: Some banks waive annual fees for customers who use their debit cards a certain number of times per year. Check with your bank to see if they offer this perk.
• Maintaining a high account balance: Some banks waive annual fees for customers who maintain a high average daily balance in their account.

Avoiding ATM Fees

When you use your debit card at an ATM that is not owned by your bank, you may be charged a fee. To avoid these fees, you can:

• Use ATMs that are owned by your bank: You can usually find a list of your bank’s ATMs on their website.
• Use a surcharge-free ATM: There are a number of companies that offer surcharge-free ATMs. You can find a surcharge-free ATM near you by using a website like ATM Hunter.
• Get cash back from a retailer: You can get cash back from most major retailers when you use your debit card to make a purchase.

Avoiding Currency Conversion Fees

When you use your debit card to make a purchase in a foreign country, you may be charged a currency conversion fee. To avoid these fees, you can:

• Use a credit card that does not charge currency conversion fees: There are a number of credit cards that do not charge currency conversion fees. Research different credit cards to find one that meets your needs.
• Use a debit card that is linked to a foreign bank account: If you have a bank account in the country you are visiting, you can use your debit card to make purchases without paying currency conversion fees.
• Pay for purchases in local currency: If possible, pay for purchases in local currency. This will help you avoid currency conversion fees.

By following these tips, you can avoid debit card annual fees, ATM fees, and currency conversion fees.