How to Avoid Paying Bank Fines Once and for All
Nobody likes paying bank fines. Whether we're looking at fines related to overdrafts, checking accounts, transfers, ATM withdrawals, or anything similar, most of us have already paid enough fines and fees to last a lifetime. Such charges feel like a frustrating yet inevitable part of participating in the American banking system. But what if that's not the case?
What if such fines aren't, in fact, inevitable? What if there were a quick and easy way to avoid paying those pesky bank fines once and for all? With DoNotPay, you have the power to waive bank fines and fees right at your fingertips.
Bank Fines: A Global Money-Making Phenomenon
Every year, people around the world get drawn into paying bank fines and fees. Turns out that charging people for bank services is actually a huge global industry.
Data acquired from the Bank Fines Report 2020 by Finbold.com indicates a total of $15.13 billion (€12.79 billion) in aggregated bank fines last year. The bank fines covered the period of January 1, 2020 to December 31, 2020.
Globally, the United States accounts for the largest amount of these fines, charging their customers a collective $11.11 billion over the course of just twelve months. Australia, the Netherlands, and Sweden round out the top four.
In the U.S., the top two banks charging the most in fines include:
- Goldman Sachs - $3.90 billion in fines in one year
- Wells Fargo - $3.00 billion in fines in one year
But you don't have to bank with those two to face fines and fees. You'll find that charges abound no matter where you bank.
The Most Common Fines Charged by Banks and How to Avoid Them
Knowing why bank fines and fees are charged is the first step to avoiding them. According to Forbes, the most common bank fines and fees are as follows:
- ATM Fees
- Account Maintenance Fees
- Overdraft Fees
- Paper Statement Fees
- Inactivity Fees
With these fines and fees in place, banks earn billions of dollars every year. Sometimes you feel that you have no choice but to go along with the charges. But that's not the case.
How to Avoid Bank Fines and Fees on Your Own
In some ways, avoiding bank fines and fees is a simple matter of changing your habits. You can choose to avoid these charges by avoiding the behaviors that trigger them, such as only using ATM's associated with your bank, working never to overdraft your account, and signing up for electronic bank statements.
Of course, sometimes such actions are improbable or downright impossible. In such cases, DoNotPay can still help you avoid paying bank fines.
Avoid Bank Fines With DoNotPay
Yes, you can avoid paying bank fines by changing your habits. At least, you'll avoid some of them. The best way to get out of paying all bank fines and fees is to let DoNotPay help you waive them automatically.
With our system in place working on your behalf, DoNotPay will appeal your bank fines every month. You will have nothing left to do but sit back and enjoy saving money.
If you want to get bank fines waived but don't know where to start, DoNotPay has you covered in 4 easy steps:
- Open the DoNotPay Fight Bank Fees product.
- Enter the name of your bank.
- Verify the last 4 digits of your bank account.
- Choose which fees you want to waive, including overdraft, ATM, and transaction fees.
It really is as easy as that.
Let DoNotPay Simplify Your Banking Experience and Save You Money
No matter what bank you use, it's a sure thing that you'll be charged some sort of fee or fine at one point or another. Many people don't know that such fees can be appealed, let alone waived.
DoNotPay makes getting fees and fines eliminated fast, easy, and effective. You don't have to make a single phone call. All you have to do is set it up through DoNotPay and you can reap the rewards in just a few clicks.
No matter which bank you're dealing with and which problem you're facing, DoNotPay has what you need to get your questions answered.
|Bank of America overdraft fees||Chase Bank||Fifth Third Bank overdraft fees||Citizens Bank overdraft fees|
|Bank of America||Paypal||Wells Fargo||TD Bank|
What Else Can DoNotPay Do?
DoNotPay can help you solve more than banking fee issues (although that's no small matter).
We can also help you:
- Learn to file insurance claims
- Get help with unpaid bills
- Navigate small claims court
- Handle chargebacks and refunds
- and so much more.
Check out all DoNotPay has to offer and let us go to bat for you.