#212: More Bank for Your Buck (Friday, January 21)

I dunno about your bank, but mine charges me whenever I use another bank's ATM...this is in addition to that bank's ATM fees. So depending on which bank I chose, I ended up paying up to $3 to withdraw my own money. A few years ago, I did an experiment: I went through my bank statements and added up all the ATM fees for an entire year. I think it was $154. $154 of my own money wasted on fees -- and this was before the credit crisis!

But since I travel overseas a lot and my bank is one of the two I've seen with multiple ATMs in the countries that I travel to, I figured it was a small price to pay to have international access to my money. But things and times have changed. Many banks are raising their fees and providing less services.

Of course, you can always go with the good ol' trusted Credit Union (they're non-profit institutions, whereas banks are for-profit institutions), but alas not everyone will be eligible to join a credit union. So if you fall into the latter, group...

The Idea: Audit your bank to make sure you're getting the most "bank for your buck", and if you're not, shop around for a bank that's better suited to your needs. Some things to consider:

• Online banks may pay a higher interest rate, but accessing your funds in an emergency can take longer.
• A local bank may know you personally and may even have better customer service, but if you travel to another state, they may not have a presence there.
• If you've been at your bank for a long time and you want to stay there, consider negotiating for some of the services you need that they don't offer (or offer for a fee). They want to keep you as a customer, so they may be willing to hear you out.

If you need help, you can compare banks' features and services on Bankrate.com, or you can use my own personal bank shopping checklist.

Time Required: Varies, depending on your level of research and the features you're looking for.