Unless you carry a large balance in your account, most banks are going to charge account maintenance fees. At $3-$5 a month, these fees can add up. Paying those fees is the same thing as throwing money away. Moreover, if you travel you’ll be forced to pay out-of-network ATM fees.

There is a simple solution. Open a cash management account (a fancy way of saying checking account) with either Fidelity or Schwab.

I’m most familiar with Fidelity. Fidelity will reimburse your ATM fees, even those outrageous $10 fees incurred at strip clubs. You don’t pay any account fees. You can just deposit checks by taking a picture. It’s pretty cool.

Schwab is superior than Fidelity for international travelers. Schwab reimburses ATM fees worldwide.

Here are the links (no affiliate). Read up on the services for yourself to decide what is right for you:

• Fidelity;
• Schwab.

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