Those “$300 bonus” promotions can be tempting, but they usually come with strings attached. Banks often require you to maintain a high minimum balance, set up direct deposits, or make multiple transactions to qualify. If you don’t meet the terms, you might lose the bonus—and even face fees. Always read the fine print to ensure the deal works for you.

Overdraft fees aren’t just a minor inconvenience—they’re a huge revenue source for banks. Many charge $30–$40 per transaction, and they’ll often reorder transactions to maximize these fees. Linking a savings account for overdraft protection or choosing a bank with no overdraft fees can save you a lot of money.

Keeping all your accounts at one bank might feel convenient, but you could be missing out on better deals elsewhere. Different banks offer unique perks, such as higher savings rates or lower loan fees. By splitting your accounts across multiple banks, you can take advantage of these benefits and maximize your financial gains.

If you haven’t looked into credit unions yet, you might be missing out. Unlike big banks, credit unions are member-owned and not-for-profit, which means lower fees and better rates on loans and savings accounts. Plus, their customer service often feels much more personal.

Every time you use an out-of-network ATM, you’re not just paying one fee—you’re probably paying two: one to the ATM owner and another to your bank. Those $3–$5 charges add up fast. Stick to your bank’s ATMs or look for banks that reimburse ATM fees to keep more money in your pocket.

Staying loyal to one bank for years might seem like a smart move, but banks often reserve their best perks—like welcome bonuses or higher interest rates—for new customers. Periodically shopping around can help you discover better deals and maximize your financial benefits.

Traditional savings accounts aren’t always the smartest place to keep your money. With low interest rates, your savings may lose value over time when adjusted for inflation. High-yield savings accounts or alternative investment options can help your money grow faster and work harder for you.

Many bank fees are negotiable. If you’ve been a good customer, you can often have overdraft fees, account maintenance fees, or even late payment fees waived—just by asking. It works more often than you’d think!

Your bank collects a lot of data about your transactions, which they might use to market products or even sell to third parties. Consider turning off unnecessary features like overdraft protection or notifications tied to marketing to protect your privacy.