Transcript for Top Tips for Avoiding Fees of All Kinds
Melanie has a few more tips she is here so let's first start with the why of it all why are things doing this to us they are doing it to recoup. Billions. Of dollars in lost revenues that have come from regulations. So there's something called the swipe -- we don't know about it they charge it to merchants. Every time we swipe card debit card. They -- on average 44 cents for every transaction. Congress -- that at 21 sense and it went from being twenty billion dollars in revenues for banks. 213. -- and what they've lost seven billion dollars in revenues over this recent change here and I get somewhere that's exactly right they're trying to make them how Leno ladies and gentlemen of America. You will recoup that -- -- they have their way so how can we protect ourselves from mass effect here's the simple way to think about it in first of all. People should feel good about the fact there's been so much outrage about the debit fees that a lot of banks are backing off they're saying OK maybe we went a bridge too far hair. But you -- a situation where your bank has thousands of ATMs in its network that you can use. I would do everything I could to a boy that debit card fee -- just getting cash out from the AT&T if -- in a situation where. Your bank's ATMs are not near your work our home -- your finding yourself going to an out of network ATM another bank. You might want to think switching -- because on average you're paying three dollars and 81 cents. Every time you go out of network to an -- -- -- -- you're looking at the debit fee. And out of network no easy out I'm that would be me so I -- I need to fix that what else can we -- where else are we missing here so there are other fees to keep in mind so one. That his -- the days of free checking. Basically over two years ago 76% of us have -- it right today it's about 45 for percent and that number is dropping fast. -- -- banks like chase put the total checking account he and they say you either can keep up 15100 dollar balance or paid twelve dollars a month. And now you can avoid SPE. By doing things like signing up for automatic deposit or having a certain -- Transactions every month it's really just about doing your homework taking the moment he will pay off I have one must question -- as. You feel about cash and getting cash back when you buy groceries they always ask me and I love the idea that. Is it Smart -- get cash back is Smart. Yes. You if -- other choices to get money and out out of an AT and that's not your bank so it doesn't cost you any money to get cash back if you don't just do it just to do it that's not a good idea. But cash back is not a bad night the idea there are no -- is related to it for the customer other question. Should use. -- sports cash. 125 dollars try to use cash or checks yes sports fashion -- I had my -- killing -- my wallet because. The data is very very clear when we used plastic B yet. A charge car. Or a debit card we spend more money but we get points for travel inside that it matters are like one cents appointment -- so Sotheby's no spends twelve to 18% more. When we use plastic. I like my greatest chance to travel because they they are not -- to make me feel good Melanie come on literature don't -- reports. All right thank you -- has always great tips and you can learn even more of -- steps on avoiding bank fees at our website Good Morning America dot com. On yeah bill.
This transcript has been automatically generated and may not be 100% accurate.