AMERICANS are losing an average of $3,200 every year due to hidden fees in every day transactions, according to Consumer Reports.
From transport to utilities, there are seven common ways you are paying more than you need to – here’s how to avoid it.
GettyAmericans are losing an average of $3,500 every year due to hidden fees in every day transactions[/caption]Junk fees are everywhere, but can be most often found in places you wouldn’t think to look.
Even something as simple as ordering food can lead to a list of hidden fees that are in the terms and conditions, but not clearly spelled out to the customer.
For example, some restaurants are now charging for things that could otherwise be built into the prices seen on the menu.
Some will charge you a “service fee” or a “kitchen fee” to support the back of house staff.
But this can see you paying anywhere from 5% to 20% on top of what you’re paying, not even including the tip.
Restaurants are also increasingly charging customers for using credit cards to pay, normally around 2.75%.
There isn’t really much you can do to avoid this other than pay in cash.
If you order food for a comfy night in front of the TV, there’s also plenty of hidden fees involved in that – and it’s not just delivery fees.
If you have cable or satellite, these bills often include broadcast TV fees and costs for watching regional sports.
You are charged for basic things like router instillation with the internet.
These let providers advertise low monthly rates.
Streamers like Netflix charge a flat rate for services, so this is always an option compared to a cable fee.
TRAVEL EXPENSES
So, you’ve left the hidden fees of the home behind, and you’re going on vacation.
But before you’ve even made it to your destination, you’ve already encountered various costs through your travel.
Airlines are notorious for hidden fees, and will charge you things like early boarding or checking in with a counter agent.
Doing this with Frontier sets you back $35, for example.
Booking your seat also costs you extra, and if you don’t pay it, you can’t guarantee you’d be sitting with those you came with.
To get around this, check what airlines charge before before booking, as some are kinder than others.
Apart from that, fees will often be more transparent if you book directly with an airline’s website or through a travel agent.
Car rental is also a costly element of travel, so if you need some wheels when you land, it’ll cost you even more.
Most companies charge a daily fee to use their toll transponders, nearly $5 a day in some cases.
Opting out can trigger larger fees, if you choose to drive through a toll, it could cost you more.
It makes sense to agree a transponder cost when you pick up the car, or even see if you can bring one from home if you have it.
Additionally, hotels generally charge you fees for using the facilities.
On top of the booking fee for the rooms, more hotels are also charging “destination fees.”
This goes on top merely for the privilege of being able to book a room.
Unfortunately there is little you can do other than research thoroughly before you book.
BANKING
Lastly, the scary ones – banking costs. Some banks can charge you just for maintaining an account with them.
Some may also charge you a fee to withdraw cash from an out-of-network ATM or charge on overdraft fees.
If you don’t have enough fees to cover a transaction, you will most likely be charged for asking to do one.
While fees like this aren’t really junk, to avoid them, choose a bank with a lot of nearby in-network ATMs or look for one that’s part of a large ATM network.
Being enrolled in an account that suits your situation is also key.
Payment apps are a more modern way to do money transactions, but you are charged by the apps if you want the funds immediately.
Being charged to access your own money should qualify as a junk fee, according to experts.
Ed Mierzwinski, senior director of federal consumer programs at U.S. Public Interest Research Group said: “Companies pass on the fees they get charged for instant transfers to customers, and it’s not fair.
“You should have immediate access to your money, without penalty.”
One of the best ways to avoid these charges is to wait the one to three business days for the cash.
GettyAirlines are notorious for hidden fees, and will charge you things like early boarding or checking in with a counter agent[/caption] Read More Details
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