Digital Banking Security Theater
$5-$15/month for basic security
Banks charge for "enhanced security features" that should be free basic safety measures, profiting from your fear of fraud.
The real cost
$60-$180 annually for minimal protection
How to not get wrecked
- 1Use free alert systems and monitoring
- 2Enable all free security features first
- 3Monitor credit reports yourself
- 4Question all "premium security" charges
Related money drains
#11
Big Bank Fee Extraction
$250-$360/year
Big 6 banks charge $250–$360/year in fees while paying 0.05% on savings. You pay them to hold your money.
#12
Overdraft Trap
$45-$48 per NSF transaction
NSF fees of $45–$48 per transaction can trigger daily. Being broke costs extra.
#13
ATM Fees: Death by a Thousand Cuts
$4.77 per transaction
Out-of-network ATM fees average $4.77. A $20 withdrawal can cost $24.77.
Track your spending and plug these drains with Prosperi.