Hi friends welcome back to the Money Girl podcast.

I'm Laura Adams the author of Money Girls Smart Moves to Grow Rich.

Lately, there's been a lot of talk about bank fees going through the roof.

I'll tell you why you could see your bank fees rise

and where to find a less expensive bank that will save you money. I'll also show you

the right way to switch bank accounts in five simple steps.

The reason you might get hit with new bank fees is because federal regulations are putting

a crimp in bank profits.

A limit that banks can charge merchants when you swipe a debit card

has now been cut in half. As you can imagine, banks aren't happy about that. They say it could

cut their revenue by as much as 40%.

So they're implementing new fees to make up the difference.

Here are some of the fees that Big Banks have put into place or are considering

charging their customers.

Monthly fees of up to $5 to use a debit card.

debit card transaction fees each time you swipe.

Fees to receive paper statements. Few fewer or no debit card rewards, increased ATM

fees, and fees to access online banking.

Banks have to notify you before they start charging new fees, so be sure to read any mail notices that you receive from them.

If you aren't happy about having new or increased fees, it might be time to change banks. Switching bank accounts does take a little

effort on your part, but if you follow my five quick and dirty steps, the transition

will be smooth as silk. Step number one, do your research. The first step is to

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