These are the fees Americans hate the most
Fees can outrage people – they are often not listed in the price of an item or service, but you have no choice but to pay for them. Sure, these concert tickets cost $100 each, but with the various fees applied by the vendor, you have to spend a lot more.
It is difficult, if not impossible, to avoid fees. Nearly three-quarters of Americans (74.5%) have paid shipping for an online order in the past year and 52.8% have paid ATM fees, according to a new survey commissioned by Fund Rocket, a company that provides business financing. The company surveyed 1,018 people who were equally gender-weighted and aged 37.4 on average.
Fees bother people largely because they’re added after factoring in the cost of a purchase. However, not all fees are created equal. Some bother people more than others.
These are the most hated fees
“Delivery and shipping costs can be annoying, but consumers seem to understand their necessity,” according to a Fund Rocket blog post on the survey. “Fees associated with entertainment, such as ticket processing and printing fees, were rated the most unfair by Americans, followed by minimum checking account balance fees.”
It’s easy to see why people don’t like ticket processing fees, as they tend to add significant costs to a purchase. Bank charges, including the second-highest “overdraft fee” and the fourth-highest ATM fee, also bother consumers. In the case of the former, the charge is particularly heinous because it feels a bit like a bank kicking you when you’re already down.
“Americans’ hatred of fees associated with banking may be due to the discrepancy between the services received and the corresponding costs,” according to the blog. “While banks are supposed to be where people can save and manage their finances, the extra fees can cost them a lot of money – an ordinary customer could lose up to $1 million to banks throughout their lifetime. his life.”
How to avoid fees?
Not paying a fee requires financial discipline and time spent researching. Bank charges, for example, can vary widely from bank to bank, and some banks even waive ATM fees (at least when using in-network ATMs).
Ticket costs can, in some cases, be reduced by purchasing them on site rather than online. This isn’t always true, however, so you should do your homework before you travel. Checked baggage fees can be avoided by choosing the airline you’re flying with, and hotel parking fees can be avoided by parking in public lots (which will still cost money, but usually less ).
Some costs cannot be avoided, but many can be minimized or ignored if you plan ahead. For example, overdraft protection can be added to many checking accounts. This may involve linking another payment method or paying for a program that covers minor withdrawals.
Fees are sometimes unavoidable, but it makes sense to ignore them when possible. Small amounts add up, and spending money to get nothing in return is something to fight as hard as you can.