Ten Strategies to Fight Bank Fees

Banks brought in $38.63 billion of service charges last year -- fees from ATMs, bounced checks, overdrafts and the like -- which was 8.3% more than in 2006. Such fees made up a larger portion of noninterest income in 2007 than they had in 12 years.

Some outlets have simply raised surcharges while others have tucked fees into new places, leaving many unaware that they even existed. For instance, banks advertise checking accounts as "free" if there is no regular monthly maintenance charge. However, other fees involved with such accounts are less pronounced -- banks don't plaster fee disclosures on billboards the same way they do the "free checking" offers.

"Consumers have no idea that their bank is not their friend," says Ed Mierzwinski, consumer program director at the U.S. Public Interest Research Group. "You have to understand as a consumer that banks offer free checking, but it's free checking 'lite' with all the fees tacked onto the back," he adds.

While banks are required to disclose all their fees, such fine-print statements can be confusing, jargon-filled and sometimes hard to find. A Government Accountability Office study released earlier this year indicated that banks are not doing their best to inform consumers about fees. GAO staffers visited 185 bank branches of 154 different companies and were "unable to obtain detailed fee information and account terms and conditions" at more than one-fifth of the locations.