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Many people do not know about the large amount of money that they are spending each year paying for fees that are tacked on to their normal transactions by different types of companies.  In many cases, the person may not even know that the fee exists, much less that it is taking money out of their pocket every time they perform a certain type of transaction.  In today’s tough business climate, many businesses find it hard to raise prices on their customers because it is easy to compare prices on the internet and some people will just move to the products with the lower price.  So instead of raising the prices for their products, the companies tack on fees so that they can increase their revenue without losing their customers.

Bank Fees
There are many different types of fees that a bank can charge to their customers for basic transactions that a person will accept or may not even notice when the charges are posted to the person’s account.  These fees include transaction charges for using an out of network ATM, charges for too many transactions within a specified time period, and charges for using a teller instead of the ATM. Some banks even charge a fee for a new Credit card application.  The easiest way to avoid these charges is to learn what will trigger them and take the time to avoid performing the actions that will cause you to be charged these fees.

Bill Payment Fees
In recent years, many companies have added more options to allow consumers to pay their bills more quickly and efficiently, but some of these options will trigger an additional charge for the consumer.  For some companies, paying the bill by telephone when talking to a customer service representative will cost an additional $10 while some other companies charge a fee for paying the bill over the internet.  Determine what the policies for the company are before deciding to pay your bill using a particular method and if the company charges for using these payment methods, take the extra time to pay your bill by mail to avoid the additional charges.

Travel Fees
Because many travel companies find it difficult to raise their base rates in the competitive travel industry, many of these companies have tacked on additional fees to the final bill to boost the profits of their company.  Some of the most notable fees for hotels include resort fees for hotels that have pools and fitness centers for guests to use, charges for having telephone service and internet access available even if they are not used, and mandatory valet parking charges.  With these types of fees, it is best for the person to choose a company that does not charge them instead of trying to argue with management to get the fees removed at the end of your stay.

Other types of travel companies have additional fees that should be avoided as well.  Many rental car companies will add fuel charges that are double the going rate for gasoline for not returning the rental car with a full tank of gas.  Some airlines will charge as much as $80 for a suitcase that is overweight and an additional fee for taking more than one suitcase on the flight.  Online companies that allow a person to book airfare will charge up to $35 for booking the flight online.  There are many hidden fees that may be charged by a travel company, but by knowing what they are and what companies are charging them, you can avoid having to pay them and can save a lot of money over the course of a year.