Your money is your money, and you thought that the bank account was going to help you save money right? Not always, but if you make yourself more aware of what type of bank accounts are out there you can avoid some types of bank fees and keep your money longer.

Bank fees are charges on the accounts for certain things that you do with your money while it is in that account. Service charges are fees on a bank account just for having an account. Isn’t that nice of them?

A service fee could be a monthly or a yearly fee. Some accounts have transaction fees if you write more than 10 checks a month, or if you do not keep a monthly balance in your account. Service charges can run from $1.00 to $10.00 or even more. Know what your bank service charges are and what the transaction limits are on your accounts.

The Bank Taking Money Directly from Your Account

You might think you have $20 left in your account but banks fees have taken more than half of that money and now you have less, which can lead you to a checking account that is going to bounce a check. Service charges and transaction fees can be taken out of your account as they are incurred without notifying you every time.

Some types of bank fees include overdraft fees, ATM fees, and transaction fees. While these can range from $5.00 to $50.00 it can also lead to more problems with your checking account as you do not have as much money as you thought you did at all. Bank fees are legal and they are stated in the papers that you are given when opening any account. Services fees on accounts at the bank are all about how the bank is going to make money.

Using ATM Cards

If you are using your ATM card, your debit card, at a bank that is not your own, you are most often charged some type of fees by the bank. While you could go right down the street to your own bank, you went to another bank, and now the bank fees are going to be taken out of your account the same time your money is going to reach your hand. Transaction fees and ATM fees are similar. These are not hidden charges because when using your ATM card, the screen is going to ask you if you accept the fees for using your debit card at the bank that is not your own.

Bounced Check Fees and Charges

If you have an overdraft protection on your account, this is going to be a service that the bank provides to honor checks even when you do not have the money in your account. While your check is still going to be “good” and the money will pass through your account, you will still be charged a bank fee, an overdraft fee.

Wire transfers, sending money electronically and sending money anywhere by use of electronic means can often add up the bank fees as well. Know what the fees are and ask the bank if you must. Refer back to the papers given to you on the account when you opened the account. If you are not aware of how much the bank is going to take for a type of transaction it can come back to hurt you as you will have less money than you originally thought in your bank account.

A credit card can be a very handy tool, since it makes it possible to make purchasing easier when we don’t have the cash on hand. It can be used for emergencies, making large purchasing that one cannot normally afford, or even great for helping to build a positive credit history. No matter what the purpose may be for the credit card, there are a few things to consider when choosing a low APR credit card.

APR – Annual Percentage Rate

The term APR stands for annual percentage rate, which is the fee charged to the card every month there is an outstanding balance. Even though it is an annual rate, the fee is usually charged on a monthly basis and added to the total balance on the card. The APR is usually determined by the credit card company based on the applicants past credit history and current credit score.

An annual percentage rate can vary from about 5% all the way up to 30%, and it can even change month to month depending on the terms of the credit card.

The APR is the method credit card companies use to make money off of their clients, and it is the price cardholders pay to be able to pay for purchasing over time instead of upfront. Even though there are additional fees associated with credit cards, the APR is usually the highest fee since it is based on the remaining balance on the card.

Because the APR is the main way credit card companies make their money, credit card companies can charge as much as they wish every month to make money. It is up to the cardholder or potential cardholder to choose a credit card that does not have a sky high APR, since it will only cost them a great deal of money in the long run.

Introductory Period – The Hook!

One of the ways that credit card companies get cardholders to pay such a high APR is by first extending an introductory period, which usually offers a 0% APR for a set amount of time. While it does seem like a dream come true to not have to pay any interest, the time period ends and a very high APR is tacked onto the card.

This is also the case for cards with a variable APR, since it has the ability to increase over time. The card will start off with a very appealing and low APR, but will dramatically increase as months pass by. This can make a cardholder owe a lot of money in the long run if they have a balance on the card, making it almost not worth it to use a credit card for purchases.

Choose Low APR with NO Introductory Period

The best bet for potential credit cardholders is to look for cards with low APR, and try and avoid those with introductory periods. A low APR is not always possible since it is based on current credit score, but the only way to fix that is by being a cardholder and building up a good credit history.

Choosing a credit card with a low APR is the best way to get all of the benefits a credit card has to offer, but you won’t have to worry about paying a great deal of money in the long run.

Internet mail is a primary source for the perpetrators of identity theft to gain access to personal information. Spam or Phishing emails, linked to identity thieves, arrive daily in millions of mailboxes worldwide.

Identity thieves don’t single out their victims. They focus on gaining access to as many identities as possible, regardless of whose, in order to steal them. They are motivated by pure greed.

E-mails sent by identity thieves use deception to gain personal information such as bank routing, account and PIN numbers, passwords, and Social Security Numbers.

Spam emails often assert that you have won large amounts of money, urging you to “act now” to receive your prize. Logic should tell you that if you have not joined a contest you probably have not won a prize. I recently received an email claiming that I’d won $32,000. I was asked to pay the tax on the winning and, of course, to “respond now” to receive my prize. Delete.

Another email offered me a scholarship or grant to attend such and such college. I was to “act now” by providing personal information. Delete.

In one scam, customers of FDIC received e-mails, ostensibly from their bank, requesting that they provide personal information to avoid closure of their accounts. Banks clearly state in their Terms & Conditions that they will not send electronic mail requesting information from the recipient at any time. Your bank already has your personal information and responding to such an email is only asking for trouble.

Thieves also targeted Microsoft. Emails were distributed requesting receivers to download patches to protect their computers. Once the receivers downloaded the attachment a dangerous virus quickly took control of their computers, leaving them riddled with open spaces where thieves could access private information.

Another group of Internet thieves did their work through Ebay. They bought items and sent the sellers checks amounting to more than the purchase price. They then requested that the sellers return the excess amounts electronically, or through Western Union. The checks were found to be copies.

The Internet may not always be a secure environment, but following these helpful tips can help prevent you from falling victim to identity theft:

• Never open emails that you do not trust.
• Do not give out personal information over the Internet unless you know the company can be trusted. Ensure that they use encryption to secure their site. When possible, consider ordering from the company directly by postal mail.
• Do a background check on any site you consider disclosing personal information to.
  If possible send money orders to pay bills, and pay for products offline.
• Never disclose personal information over the phone or in online forums, bulletin boards or discussion boards.
• Conceal your personal information at all times, including at home.
  When using ATMs or other machines make sure nobody observes as you enter your PIN number.
• Choose PIN numbers and passwords in a random manner and change them frequently.