Money Fix: Avoiding those new bank fees

A version of this story appeared in Newsday on Oct. 10, 2011. Before the end of the year, Bank of America decided to withdraw the fee.

Twitter and Facebook have been sizzling with consumers venting about some big banks' announcements of new fees for checking accounts or debit card use.

Venting may release some steam, but an additional approach is to see how to avoid those fees, says Lynette Baker, director of marketing for RethinkingDebt.org, a Rochester-based credit counseling agency with an office in Hauppauge.

What's what. Talk to your bank to see just how you'll be affected. If you are to be slapped with a fee, she suggests you ask what you can do to be exempted. Switch to a different type of checking account? Link accounts? Consolidate accounts from other financial services institutions so that you can meet minimum deposit requirements?

Behavior. If you're facing a debit card charge, you can always switch to a credit card, assuming you can limit purchases and pay off the balance monthly so as to avoid interest charges, says Bill Hardekopf of LowCards.com, which ranks and reviews credit card offers. Indeed, if you are in the hole, or fear slipping back, you actually may be better off opting for the fee, says Baker. In the case of Bank of America, that could amount to $60 a year.

Shop. Or you can check Bankrate.com for online or community banks that aren't charging the fees. Or for an area credit union, see FindA CreditUnion.com. Smaller banks and credit unions can be more consumer-friendly, says Baker. But be sure to check out locations and the convenience of their ATMs.