Tired of Bank Fees?

Tired of reading all those stories about banks nickle-and-diming their customers? You're not the only one.

Local/regional banks, online banks and credit unions have exploded in popularity in recent years. These banks generally enjoy lower overhead, often as a result of having fewer brick-and-mortar locations. They pass the savings on to their customers.

What are some good options?

1: Credit Unions

Most credit unions offer free checking and lower fees than traditional banks. Most are also local, meaning the credit union you'll find in Denver is different than the one you'll find in Atlanta.

However, credit unions understand that you're going to travel out-of-town and need to use the ATM, so they've created a national co-op network. You can withdraw money from any ATM in the national co-op network without paying an ATM fee. This combines some of the benefit of joining a national financial institution with the benefit of being a member of a local group.

Visit the co-op network website to locate ATMs near you and learn more about credit unions. You can also run an internet search for the name of your town plus "credit union" to see what's available in your area. Check your local credit union's website to see if it belongs to the national co-op network.

2: Online Banks

Looking for a bank that will offer free checking? Your best bet might be an online-only bank like ING Direct or Ally Bank, which doesn't have the overhead of banks that need to occupy downtown buildings.

3: Charity Banks

Here's a new concept: a bank that's expressly geared towards charitable giving. AbleBanking, an online savings division of Northeast Bank, will donate $25 to the charity of your choice when you sign up for an account, plus 0.25 percent of your total deposits to a charity of your choice each year. This relatively new organization has even forged partnerships with Teach for America, the Greater Boston Food Bank, and the Boston Children's Chorus. Remember: this bank is ONLY for savings, not for checking.

Source: http://budgeting.about.com/b/2012/07/06/tired-of-bank-fees.htm

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