Latest News

Bill Burr complained to Joe Rogan that his bank was taking $28 out of his account every month ‘for no reason’ — here are 3 ‘sneaky’ banking fees and how to avoid them


S&P Futures



Dow Futures



Nasdaq Futures



Russell 2000 Futures



Crude Oil












10-Yr Bond















CMC Crypto 200



FTSE 100



Nikkei 225



Bill Burr complained to Joe Rogan that his bank was taking $28 out of his account every month ‘for no reason’ — here are 3 ‘sneaky’ banking fees and how to avoid them

Banks are an essential part of our economy. They provide a safe place to keep our money, pay interest on our savings, and lend us money to buy homes.

But they are also profit-seeking businesses.

One of the many ways banks make money is through fees. These fees can seem small, but they do add up. In fact, even high-net-worth celebrities are ranting about it.

“[My bank] is taking $28 a month out of my account for no reason,” top comedian Bill Burr tells Joe Rogan during an episode of the Joe Rogan Experience podcast.

Burr says he didn’t even notice it at first. But when he did, he confronted his bank about it.

Don’t miss

The S&P 500 is down 24% this year — but this vintage asset class is up 14%. Here’s how wine can add some body to your portfolio

Invest your spare change and turn your pennies into a productive portfolio

You could be the landlord of Walmart, Whole Foods and Kroger

Given that Burr was being charged the monthly fee for five years, you’d think that his bank would pay all of the money back. But the bank said that their records only go back four months and he could only be reimbursed for those four months.

“That’s ridiculous,” Burr says. “The bank looks at it like that’s on you — because I didn’t catch it.”

These days, banks do have a lot of ways to charge fees. Here’s a look at three types of “sneaky” banking fees — and how you can avoid them.

Maintenance fee

Just being a customer of a bank can cost you money through maintenance fees — it’s a fee for simply having your account open.

Personal finance expert Dave Ramsey once called maintenance fees “some of the sneakiest.”

“You agree to them when you open an account, and you may not even realize it until they show up on your statement six months later.”

But there are usually ways to avoid paying this particularly stealthy bank fee. For instance, some banks may waive account maintenance fees for customers who maintain a certain minimum balance. If your account balance is above that threshold, you don’t need to pay the maintenance fee.

Some banks may also waive maintenance fees for customers who have direct deposits to their accounts.

Always read the fine print before you open an account to see whether your bank charges maintenance fees and how you can avoid them.

Overdraft fee

We all know that credit cards allow us to spend money we don’t have — and cost us big money through double-digit interest rates. But did you know that you can also spend more money than what you have using your debit card — and get charged a fat fee for doing so?

So if you have $100 in your checking account and swipe your debit card to buy that $150 item at the store, the transaction can still go through. But you’ll likely be hit with an overdraft fee.

How much is that fee?

Stay on top of the markets: Don’t miss the latest news and a steady flow of actionable ideas from Wall Street’s top firms. Sign up now for the MoneyWise Investing newsletter for free.

According to the Consumer Financial Protection Bureau, a typical overdraft fee is around $35.

Of course, you are also expected to pay back the amount you have overdrawn. If you keep overdrawing your account, there’s a good chance that you’ll be paying additional fees.

It’s easy to avoid paying the overdraft fee: pay attention to your account balance and don’t spend more than that.

You may also ask the bank not to allow charges to clear your account when it is overdrawn.

Non-sufficient funds (NSF) fee

As the name suggests, a non-sufficient funds fee applies when your account does not have sufficient funds — usually to pay the check written against it. This is better known as bouncing a check.

Obviously, the way to avoid an NSF fee is the same as avoiding overdraft fees: monitor your checking account. If the balance is running low, you might want to transfer money from your savings account before writing a check.

Many banks also allow you to set up automatic alerts that send notifications when your account is low on funds. You can usually customize the dollar amount that triggers the alert. This way, you’ll know when to move money from your savings account to your checking account — or simply reduce your spending until your next paycheck arrives.

Another thing to note about the NSF fee is that the check you write may not get cashed until later.

For instance, you may write a $500 check on the first of the month and the payee cashes it on the 15th. If you forget about the check and let your account balance drop below $500 before the bank processes the payment, you’ll likely get hit with an NSF fee.

What to read next

‘The world should be worried’: Saudi Aramco — the world’s largest oil producer — just issued a dire warning over ‘extremely low’ capacity. Here are 3 stocks for protection

‘This truck can’t do normal truck things’: YouTube star says towing with Ford’s new electric pickup is a ‘total disaster’ in viral video — but Wall Street still likes these 3 EV stocks

‘I just can’t wait to get out’: Nearly three-quarters of pandemic homebuyers have regrets — here’s what you need to know before you put in that offer

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.


Yahoo Life

Drew Barrymore opens up about intimacy after a woman accused her of hating sex

“For the record, I do not hate sex!” the talk show host says in a candid new blog post.

NY Daily News

Kanye West claims George Floyd died by fentanyl; Floyd’s family considers lawsuit

Kanye West continues to create outrage. The outspoken rapper contended in a new interview that George Floyd died of the drug fentanyl, and not from the actions of the Minnesota police officer who was convicted of his murder. “They hit him with the fentanyl. If you look, the guy’s knee wasn’t even on his neck like that,” West claimed on Sunday’s episode of the Revolt TV show “Drink Champs.” …

Associated Press

Biden turning to Trump-era rule to expel Venezuelan migrants

Two years ago, candidate Joe Biden loudly denounced President Donald Trump for immigration policies that inflicted “cruelty and exclusion at every turn,” including toward those fleeing the “brutal” government of socialist Nicolas Maduro in Venezuela. Now, with increasing numbers of Venezuelans arriving at the U.S.-Mexico border as the Nov. 8 election nears, Biden has turned to an unlikely source for a solution: his predecessor’s playbook. Biden last week invoked a Trump-era rule known as Title 42 — which Biden’s own Justice Department is fighting in court — to deny Venezuelans fleeing their crisis-torn country the chance to request asylum at the border.

The Daily Beast

The Nightmare COVID Variant That Beats Our Immunity Is Finally Here

Photo Illustration by Erin O’Flynn/The Daily Beast/GettyA new subvariant of the novel-coronavirus called XBB dramatically announced itself earlier this week, in Singapore. New COVID-19 cases more than doubled in a day, from 4,700 on Monday to 11,700 on Tuesday–and XBB is almost certainly why. The same subvariant just appeared in Hong Kong, too.A highly mutated descendant of the Omicron variant of the SARS-CoV-2 virus that drove a record wave of infections starting around a year ago, XBB is in ma


‘My friends and family say I’m rich.’ I’m 26 and make $100,000 a year living in St. Louis, where I pay $850 in rent. But I can’t afford to buy a home, and am losing money when I invest. Would hiring a financial adviser be a smart move?

Answer: It sounds like you’re feeling stressed about money and questioning your decisions, so we asked financial advisers and money pros what you’re doing right and what you might want to change. “I would base your savings rate towards a home, and how much you can temporarily divert from the student loan debt towards a home, on how much you think the home will cost,” says Joe Favorito, certified financial planner at Landmark Wealth Management.


The Time to Buy the Dip Is Fast Approaching — for One Country

(Bloomberg) — Investors are looking beyond a looming global recession and they see one country – and its financial markets – emerging strongest on the other side.Most Read from BloombergNATO-China Tension Over Ukraine Flares at Conference in IcelandSecret Service Minimized Threats Before Jan. 6, Records ShowStocks Drop in Asia, Dollar Dips Amid Wary Trading: Markets WrapUS stocks and bonds will lead the way out of the current wave of market turmoil, according to respondents in the latest MLIV P

Bearish Bets: 3 Stocks You Should Think About Shorting This Week

Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet’s Quant Ratings, we zero in on three names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Plug Power Inc. recently was downgraded to Sell with a D+ rating by TheStreet’s Quant Ratings.


I want to retire next year, but I have $25,000 in credit card debt and a major monthly mortgage payment — I also live with my three kids and ex

See: I’m a 57-year-old nurse with no retirement savings and I want to retire within seven years. Having $110,000 in retirement accounts is great, and you don’t want to have to start dwindling that down while also trying to manage a way to effectively pay down credit card debt and a mortgage. “I think she needs to take a hard look at her income and expenses,” said Tammy Wener, a financial adviser and co-founder of RW Financial Planning.


Goldman Sees Some Bargains in US But Finds S&P 500 Expensive

(Bloomberg) — Goldman Sachs Group Inc. sees attractive opportunities emerging in US stocks even as the S&P 500 benchmark remains expensive versus its history and accounting for interest rates.Most Read from BloombergNATO-China Tension Over Ukraine Flares at Conference in IcelandSecret Service Minimized Threats Before Jan. 6, Records ShowStocks Drop in Asia, Dollar Dips Amid Wary Trading: Markets WrapThe risk-reward for the S&P 500 Index remains unattractive but “the degree of valuation dispersi


Bank Run Shows Risks From Widening Vietnam Corruption Probes

(Bloomberg) — It was a jarring image for one of the world’s fastest growing economies: Scores of Vietnamese flooded branches of the nation’s fifth-largest bank to pull out their savings amid rumors the lender was tied to a real estate conglomerate under investigation for fraud.Most Read from BloombergNATO-China Tension Over Ukraine Flares at Conference in IcelandSecret Service Minimized Threats Before Jan. 6, Records ShowStocks Drop in Asia, Dollar Dips Amid Wary Trading: Markets WrapVietnam’s

The Wall Street Journal

JPMorgan, Citigroup and Wells Fargo Prepped for Recession. What Will Bank of America Do?

JPMorgan Chase Co., Citigroup and Wells Fargo all said Friday they had socked away hundreds of millions of dollars apiece to cover potential loan defaults. The message: Things might seem OK now, but don’t expect them to stay that way. Jamie Dimon, chief executive of JPMorgan, has been predicting a recession, or what he calls [an economic “hurricane,”]( for mo

Motley Fool

Can Investors Trust AT&T’s Juicy 7% Dividend?

Currently, AT&T sports a high 7.4% dividend yield, which means the company will pay an estimated 7.4% of its stock price to shareholders each year. This number constantly fluctuates because it is calculated using the annual dividend payout divided by the stock price. The yield rises if the dividend goes up and the stock price stays the same.

Billionaire Carl Icahn warns ‘you can’t cure’ white-hot inflation — but when an audience member asked him for stock picks, he gave these 2 ‘cheap and viable’ names

Previous article

Bank of America Profit Falls 8%

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News