2. The Out-of-Network ATM Surcharge

You need cash in a hurry.  The nearest ATM belongs to a different bank, but you use it anyway.  This single decision often triggers a double penalty: the owner of the ATM charges you a convenience fee (usually $2.50 to $4.00), and then your own bank penalizes you for using a competitor’s machine by tacking on another $2.50.  Suddenly, withdrawing a quick $20 has cost you $5 in fees.  Do this just twice a month, and you are bleeding over $100 a year. How to stop it: Planning ahead is your best defense.  Familiarize yourself with your bank’s ATM network map.  If you frequently find yourself out of network, consider switching to a financial institution that offers ATM fee reimbursements.  Additionally, take advantage of the "cash back" option when buying groceries or supplies at a supermarket, which bypasses ATM networks entirely. 3. The Punishing Overdraft Fee The Damage: $35 to $105+ per year Overdraft fees are arguably the most predatory charges in the banking system.  You miscalculate …