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Never pay for these 4 financial services
(Inform / Clark Howard)

We live in a world that’s littered with hidden fees. But it doesn’t have to be that way, especially when it comes to money-related services.

RELATED: No matter what, these are 12 things you should never pay for

Here are four such things you should never pay for, per Kiplinger.

1. Credit reports

The Fair Credit Reporting Act allows you to receive free reports from each of the three main credit monitoring bureaus (Equifax, Experian and TransUnion) every 12 months. So don’t pay for them!

Visit annualcreditreport.com or call 1-877-322-8228 to get your free copies; just know you’ll need to provide your name, address, birth date and Social Security number.

2. ATM withdrawals

There is no reason in the world to pay an ATM fee. So use one of your bank’s ATMs, if you can. But there are a few more ways to get around the fees.

Some banks, including PNC and TD, reimburse out-of-network ATM fees to premium account holders. Online banks and credit unions also refund some ATM charges per month. And you can always do the cash back option — use your debit card to pay for an inexpensive item at a grocery store or pharmacy, then choose to receive cash from your account, typically up to $200.

3. Checking accounts

According to Kiplinger, only 37 percent of banks offer free, no strings attached checking. Most of them have free checking with a couple minimum requirements. For example, Wells Fargo will waive its monthly $10 fee if the account holder maintains a minimum balance of $1,500 or direct-deposits at least $500 a month.

RELATED: 5 ways to avoid ATM fees

Before committing to a bank account, make sure you won’t be expected to pony up a fee to use it.

4. Foreign transaction fees

If you’re planning to go abroad, check to see if your credit card charges fees for purchases in foreign countries. People who travel regularly should probably invest in a traveler’s credit card, such as the Capital One Quicksilver card or the Discover It Miles card.

RELATED: 20 unknown travel credit card hacks

(H/T: Kiplinger)

Beth Sawicki About the author:
Beth Sawicki is a content editor at Rare. Email her at Beth@Rare.us.
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