Choosing a bank

Many consumers pay high bank fees because they have chosen banks that provide unnecessary services. Consider our tips to avoid paying too much for your financial services.

  1. Look beyond the standard package offered by the large, national banks. Many regional banks, credit unions, and Internet banks offer free checking accounts, savings accounts, and access to ATMs. These institutions may have fewer ATMs than large banks, but they usually do not charge depositors for using other banks' ATMs. Comparison shop for a bank online at bankrate.com, moneyrates.com, findabetterbank.com, and bankfox.com. For help finding a credit union online, go to National Credit Union Association (NCUA) and findacreditunion.com
  2. Avoid paying for a checking account. There are plenty of free options at banks and credit unions, but be sure to find out if the account has a minimum balance requirement. Ask about the fee for going below the minimum balance, and fees for writing checks and bouncing checks. Some institutions offer reduced-fee accounts if you have a consumer, mortgage, or auto loan with them. Setting up direct deposit may also eliminate checking account fees. Even some of the large, national banks offer no-fee, Internet checking accounts.
  3. Get the most out of your savings account. Shop around for the best interest rate, and check to see if opening a saving account will reduce fees paid on a checking account. You also want to find out about minimum balance requirements, and limits on the number of withdrawals. Fees for going below the minimum balance and exceeding the withdrawal limit are common, and could potentially erase the benefit of earned interest. 
  4. Choose the right service package for you. Look over the packages and choose the services you use regularly. Don't pay extra for a service you'll rarely use. Don't get an interest-bearing account if your balance is so low that the interest will be less than the charge of having the account!
  5. Link a card. Many institutions offer lower interest credit rates and higher credit limits to consumers who have other accounts with them. 
  6. Get free, easy access to ATMs. Find out about ATM withdrawal limits, the accessibility of ATMs, and charges for using other banks' ATMs. If you travel, you also want to know if there are additional fees for using ATMs in other states or countries.
  7. Avoid extra fees and charges. Your institution may also charge fees for opening and closing accounts, deposits and withdrawals, overdrafts, placing a stop payment, balance inquiries, branch services, and phone support. Find out if you will pay extra for the services you use most, and ask about ways to avoid paying fees. Check your monthly statement, and challenge fees you don't think you should be paying.
  8. Don't pay extra for overdrafts. Consider that some institutions charge $35 for an overdraft, while others charge $10. Some make automatic loans to cover overdrafts, with APRs up to 36%. Some institutions can make an automatic withdrawal from your savings or charge to your credit card in the event of an overdraft, for no additional fee. Try to choose the least expensive option, given your spending habits.
  9. Know about account activity. Sign up for text and/or email notification of large transactions and changes to your account information.
  10. Ask for what you want. The market for depositors is competitive, meaning that institutions may be willing to sweeten the deal.

Issue updates

News Release | US PIRG | Consumer Tips, Consumer Protection

Back to school: financial literacy tips for college students, teens

During this time of year, families are thinking about the children going back to school, and for parents who are sending their kids to college, it can be a bit overwhelming. A key to addressing those concerns is making sure their teens are prepared for “adulting” -- in other words, taking care of their own lives.

> Keep Reading
Report | MASSPIRG Education Fund | Consumer Protection

The CFPB Turns 10

As the Consumer Financial Protection Bureau (CFPB) turns 10 years old, a new report from MASSPIRG Education Fund recaps how the agency has helped consumers over the past decade and the steps under way to refocus the CFPB on its mission after three years of retrograde decisions under the Trump Administration. The report also provides recommendations for CFPB action moving forward, especially on credit reporting.

> Keep Reading
News Release | MASSPIRG Education Fund | Consumer Protection

Report: The Consumer Financial Protection Bureau turns 10

BOSTON -- As the Consumer Financial Protection Bureau (CFPB) turns 10 years old, a new report from MASSPIRG Education Fund recaps how the agency has helped consumers over the past decade and the steps under way to refocus the CFPB on its mission after three years of retrograde decisions under the Trump Administration. The report also provides recommendations for CFPB action moving forward, especially on credit reporting.

> Keep Reading

Statement: Johnson & Johnson recalls sunscreen products after tests detect carcinogens

Johnson & Johnson Consumer Inc. said Wednesday it’s voluntarily recalling all lots of five types of Neutrogena and Aveeno aerosol sunscreen after internal testing showed “low levels of benzene” -- which can cause cancer -- in some samples. J&J also said consumers should stop using the sunscreen.

> Keep Reading

Statement: Johnson & Johnson recalls sunscreen products after tests detect carcinogens

Johnson & Johnson Consumer Inc. said Wednesday it’s voluntarily recalling all lots of five types of Neutrogena and Aveeno aerosol sunscreen after internal testing showed “low levels of benzene” -- which can cause cancer -- in some samples. J&J also said consumers should stop using the sunscreen.

> Keep Reading

Pages

News Release | US PIRG | Consumer Tips, Consumer Protection

Back to school: financial literacy tips for college students, teens

During this time of year, families are thinking about the children going back to school, and for parents who are sending their kids to college, it can be a bit overwhelming. A key to addressing those concerns is making sure their teens are prepared for “adulting” -- in other words, taking care of their own lives.

> Keep Reading
News Release | MASSPIRG Education Fund | Consumer Protection

Report: The Consumer Financial Protection Bureau turns 10

BOSTON -- As the Consumer Financial Protection Bureau (CFPB) turns 10 years old, a new report from MASSPIRG Education Fund recaps how the agency has helped consumers over the past decade and the steps under way to refocus the CFPB on its mission after three years of retrograde decisions under the Trump Administration. The report also provides recommendations for CFPB action moving forward, especially on credit reporting.

> Keep Reading

Statement: Johnson & Johnson recalls sunscreen products after tests detect carcinogens

Johnson & Johnson Consumer Inc. said Wednesday it’s voluntarily recalling all lots of five types of Neutrogena and Aveeno aerosol sunscreen after internal testing showed “low levels of benzene” -- which can cause cancer -- in some samples. J&J also said consumers should stop using the sunscreen.

> Keep Reading

Statement: Johnson & Johnson recalls sunscreen products after tests detect carcinogens

Johnson & Johnson Consumer Inc. said Wednesday it’s voluntarily recalling all lots of five types of Neutrogena and Aveeno aerosol sunscreen after internal testing showed “low levels of benzene” -- which can cause cancer -- in some samples. J&J also said consumers should stop using the sunscreen.

> Keep Reading
News Release | US PIRG | Consumer Tips, Consumer Protection

Consumer tips: What families should know about child tax credit payments that start July 15

Starting Thursday, many families with children under 18 will start getting monthly payments as part of the American Rescue Plan that became law this spring. Eligible families will get payments every month through December by direct deposit or by paper checks or preloaded debit cards that come in the mail. These payments will add up to half the child tax credit you should be entitled to for 2021; you can claim the rest next year when you file your tax return.

> Keep Reading

Pages

Report | MASSPIRG Education Fund | Consumer Protection

The CFPB Turns 10

As the Consumer Financial Protection Bureau (CFPB) turns 10 years old, a new report from MASSPIRG Education Fund recaps how the agency has helped consumers over the past decade and the steps under way to refocus the CFPB on its mission after three years of retrograde decisions under the Trump Administration. The report also provides recommendations for CFPB action moving forward, especially on credit reporting.

> Keep Reading
Report | MASSPIRG Education Fund | Consumer Protection

Getting Off The Hook of a Predatory Tow

Every year, millions of Americans have their cars towed without their consent from a private property or public street. Too often, the unknown rationale behind these tows and what to do next can leave drivers stranded and confused. While getting towed is a justified consequence of parking in the wrong place or for too long, most states don’t offer drivers the decency of basic consumer protections such as access to their wallets or medicine, or maximum rates for towing and storage. And that doesn’t even take into consideration those times when drivers believe they’re towed improperly.

> Keep Reading
Report | MASSPIRG | Consumer Protection

Trouble in Toyland 2020

It’s that time of year again when parents, grandparents, caregivers and others feeling generous begin shopping for toys for the kids in their lives. Toy safety has come a long way, thanks to years of work from consumer advocates, public health experts, elected officials and the U.S. Consumer Product Safety Commission (CPSC). These days, examples of dangerous toys contaminated with lead or toys with small parts that pose a choking hazard to young children are more difficult to find in the United States.

> Keep Reading
Report | MASSPIRG Education Fund | Consumer Protection

Auto Loan Complaints on the Rise

Consumer complaints to the Consumer Financial Protection Bureau (CFPB) regarding vehicle loans and leases have increased sharply during the coronavirus pandemic, according to a new report by the MASSPIRG Education Fund and Frontier Group.

> Keep Reading
Report | MASSPIRG Education Fund | Consumer Protection

Trouble in Toyland

MASSPIRG releases 33rd anual toy safety report at the Floating Hospital for Children at Tufts Medical Center. This holiday season, watch out for dangerous and toxic toys. MASSPIRG’s 33rd annual Trouble in Toyland report found toxic amounts of boron in slime products and a failure by Amazon to appropriately label choking hazards. Boron can cause nausea, vomiting and other health issues.

> Keep Reading

Pages

Blog Post | Consumer Tips, Consumer Protection

Waking up to the dangers of inclined infant sleepers | Teresa Murray

If you’re stunned that safety standards for inclined sleepers weren’t required before, get this: The new rules don’t take effect for a year. That’s one of the problems in the world of infant sleep.

> Keep Reading
Blog Post | Consumer Tips, Consumer Protection

How to get your stimulus payments when you file your tax return | Teresa Murray

Some of your friends or relatives have received two COVID-19 relief/ stimulus payments in the past year. And a third may be on the way soon. If you haven’t received anything yet and believe you should have, don’t fret.

> Keep Reading
Blog Post | Consumer Tips, Consumer Protection

Tips to file your tax return while avoiding fees, scams | Jacob van Cleef

You have six weeks to file your income tax return for 2020. Every year, it seems there are more issues to watch out for. 

> Keep Reading
Blog Post | Consumer Tips, Consumer Protection

The worst consumer problem: Fraud/identity theft | Teresa Murray

One in 20 people was a victim in 2019. Account takeovers, which involve a criminal gaining access to an existing account, soared by 72 percent in 2019.

> Keep Reading

Pages

News Release | US PIRG

During this time of year, families are thinking about the children going back to school, and for parents who are sending their kids to college, it can be a bit overwhelming. A key to addressing those concerns is making sure their teens are prepared for “adulting” -- in other words, taking care of their own lives.

News Release | MASSPIRG Education Fund

BOSTON -- As the Consumer Financial Protection Bureau (CFPB) turns 10 years old, a new report from MASSPIRG Education Fund recaps how the agency has helped consumers over the past decade and the steps under way to refocus the CFPB on its mission after three years of retrograde decisions under the Trump Administration. The report also provides recommendations for CFPB action moving forward, especially on credit reporting.

Report | MASSPIRG Education Fund

As the Consumer Financial Protection Bureau (CFPB) turns 10 years old, a new report from MASSPIRG Education Fund recaps how the agency has helped consumers over the past decade and the steps under way to refocus the CFPB on its mission after three years of retrograde decisions under the Trump Administration. The report also provides recommendations for CFPB action moving forward, especially on credit reporting.

News Release | US PIRG

Johnson & Johnson Consumer Inc. said Wednesday it’s voluntarily recalling all lots of five types of Neutrogena and Aveeno aerosol sunscreen after internal testing showed “low levels of benzene” -- which can cause cancer -- in some samples. J&J also said consumers should stop using the sunscreen.

News Release | US PIRG

Starting Thursday, many families with children under 18 will start getting monthly payments as part of the American Rescue Plan that became law this spring. Eligible families will get payments every month through December by direct deposit or by paper checks or preloaded debit cards that come in the mail. These payments will add up to half the child tax credit you should be entitled to for 2021; you can claim the rest next year when you file your tax return.

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