Fend Off Those Monthly Bank Fees

Surcharges, maintenance fees, courtesy services, setup costs -- what banks charge consumers these days gives new meaning to the phrase "bank heist." Are you sure you're not an accessory to your own robbery?

The only way to know for sure is to scrutinize your monthly statement and find a way to work around those pesky fees. Here's what to look for -- and some money-saving workarounds.

The costs of convenience

Businesses tout the conveniences of all the extras they offer (Automation! 24-7 access! All-inclusive!), while behind closed doors, they celebrate how these services pad your tab.

The costs of convenience are pretty shocking. According to a recent Bankrate.com survey of big institutions, here's what we're asked to shell out for: 

• Simply having a bank account (cost: $8.50, the median monthly account maintenance fee nationwide)
• Receiving returned checks with your bank statement (cost: $2 median monthly)
• Using an out-of-network ATM (cost: an average of $2.89 combined, to your bank and the out-of-network machine you used)
• Choosing debit (using a PIN) instead of credit at checkout (Cost: $0.25 to $1 per transaction, and some banks limit the size and number of transactions)
• Syncing your bank account with a personal finance software program (cost: $3 to $9.95)
• Drawing bank accounts down to insufficient funds ($27.50 average bank fee per item; $2 to $5 fee for every day account is overdrawn, plus $20 to $30 merchant fee)
• Bank courtesy overdraft/bounce protection ($5 to $50 enrollment fee and 12% APR on outstanding balances)

Make a few stops at the Kwikee Mart ATM, fall a penny below your minimum balance, and you could easily end up shelling out $25 to $105 a month. It's no wonder that last year banks raked in about $80 billion (yes, that's with a "b") in service fees, according to the FDIC.

Slash your monthly bank tab

Planning and diligent record-keeping will help you keep your money in your account and out of your banker's. The biggest way to save is to find the right banking fit for your money habits. That means signing up for an account with a minimum required deposit that's realistic for your budget. There are also other simple ways to save:

• Sign up for services (or upgrade your account) to get fees waived. In many instances, using the bank's online bill payment service or simply having your paycheck directly deposited into your account qualifies you for fee-free checking or free software syncing.
• Link your accounts. If you have checking and even a small savings account at one institution, sign up for overdraft-triggered balance transfers, which typically cost $5 to $10 per rubber check. It's the "courtesy overdraft protection programs" which often carry an enrollment fee, as well as a stiff APR on overdrafts.
• Schedule weekly withdrawals at your bank. Go ahead and get a little exercise: Walk the few extra blocks to use an ATM owned by your bank for free. Or withdraw money at the checkout counter when you pick "debit." However, if your bank charges for debit purchases...
• Pick "credit" at the cash register. Doing so will save you the fee for choosing the "debit" option (if your bank charges one).
• Upgrade your account to get free software syncing. Check your financial software provider's website to find official banking partners (often cheaper than the unofficial ones). You may also be able to avoid this fee at some institutions by upgrading your account or, again, using the bank's online bill payment service. Weigh the costs of each of these moves to see which way you'll come out ahead.
• Ask nicely for the fee to be waived. Particularly if it's a first-time offense, many banks will gladly let one slip-up slide.

Dayana Yochim checks her online bank account as often as some people look in on their sleeping children. She is on full-time fee patrol for the Motley Fool Green Light service (www.GreenLight.Fool.com).