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Questions tagged [fees]

generic tag to be used for questions related to fees. Ideally to be accompanied by other subject tags

38
votes
7answers
10k views

Money transfer scam

I live in Croatia and my family breeds dogs. When we have puppies we list them for sale on a Croatian website similar to eBay. Every once in a while for the past year or two we get a message from a US ...
38
votes
1answer
10k views

How does Fidelity make money off me?

I have an IRA account with Fidelity which I use to buy a handful of Fidelity mutual funds. Since they are Fidelity mutual funds, Fidelity does not charge commission on them. So how then does ...
26
votes
8answers
5k views

Fee-only financial advice vs. asset management (which includes advice)?

My wife and I are looking for a financial advisor. I am 52 and she is 48. We have a million plus in assets, with most of that in 401k... about 500,000 in a brokerage account. We have found a ...
26
votes
3answers
8k views

Am I obligated to file through a tax preparer after an unsatisfactory consultation?

I have been doing my taxes for 25 years with TurboTax. Like others, I was a bit upset at them for doubling the price of their software, so I decided I would make an appointment with H&R Block, ...
25
votes
7answers
15k views

Should I pay for a computer up-front or on finance?

This reads a bit like a home-work question, but this is actually my situation. The job I've taken is a BYOD (bring your own device), workplace and I prefer to use my own equipment. I've just started ...
23
votes
1answer
2k views

Paying off home mortgage and lender wants a “Recording Fee”

So I whittled down my house note to the point where I have enough cash to just pay it off early and be done with it. Yay! I asked my lender for a "payoff" statement, which provides an accounting of ...
22
votes
10answers
922 views

Are there any Credit cards with no foreign transaction fee for international travel?

Are there any Credit cards with no foreign transaction fee for international travel, and a good exchange rate?
21
votes
4answers
2k views

Why do banks insist on allowing transactions without sufficient funds?

Specifically, to a checking account. I have not heard of, in a long time, any bank that will simply decline a charge if there isn't sufficient money. Either by default or even at the customer's ...
20
votes
3answers
5k views

What are reasonable fees for financial advice?

I'm currently looking for a fee-only financial advisor. About 15 years ago I met with someone who prepared a simple financial plan over a few hours; this cost me $300 and was among the best choices I ...
19
votes
9answers
2k views

Investing small amounts at regular intervals while minimizing fees?

My daughter is about to turn one year old and I'd like to start some sort of investment account for her. The purpose would be to invest her birthday and gift money into the stock market each year. I'd ...
19
votes
4answers
2k views

How to invest in stocks without using an intermediary like a broker? Can shares be bought direct?

I am looking to buy stocks but I would like to do so without a broker. From what I can tell, the exchanges are good ole boys clubs that require you know (or pay) someone in order to participate. Am I ...
18
votes
2answers
2k views

What's the difference between credit unions and banks?

Is one better than the other? I've noticed that national banks seem to charge more (and higher) fees. Is that just me?
18
votes
10answers
32k views

How can I avoid international wire fees or currency transfer fees?

I'm paid by an American company, but travel to France frequently and need to have a French bank account for various reasons. So far the cheapest procedure I've found to transfer money is withdraw ...
16
votes
4answers
9k views

Does a savings/checking account sitting at $0 have any drawbacks?

I currently have a couple checking/savings accounts that are sitting at $0 because I found better accounts and switched banks for some reason or another, is it worth the time to try to close these ...
16
votes
2answers
21k views

Can I change banks for my HSA account?

My employer provides a High-deductible health plan with HSA option. One thing I was surprised by was how many fees were associated with the HSA account offered through my employer (the HSA is ...
16
votes
3answers
5k views

Frequency of investments to maximise returns (and minimise fees)

If I have a certain amount of money to invest regularly, how do I calculate the amount to let accumulate in my bank before I make that investment, assuming there is a fee associated with each ...
13
votes
4answers
7k views

Getting Cash from Credit Card without Fees

I currently: Pay with a credit card, get my 3% cashback, and then pay off the credit card with my debit card. What I would like to do is: Use a credit card (to get my 3% Cash back) to withdraw cash, ...
13
votes
3answers
14k views

How do I make a small investment in the stock market? What is the minimum investment required?

I am not rich, so I am talking one to two hundred U.S. dollars per month only. I would like to know whether I can buy stock using that little amount of money, and how to do that if possible? As an ...
12
votes
5answers
3k views

What strategies can I use to minimize international money transfer fees?

I would like my younger brother to start studying in a school here, and this requires frequent international money transfers: The primary source (sponsor) would be family funds that would be wired ...
11
votes
1answer
3k views

Should the bank cover money lost due to an unsuccessful transfer?

Recently I have transferred money from Deutsche Bank, Germany to Standard chartered Bank, India. My transaction was not successful due to an Indian Government policy change for demonetization. The ...
11
votes
5answers
4k views

Is there a fee if you used your debit card as credit card?

Is there a fee if you used your debit card as credit card? I see people recommending to always run debit card transactions as credit. There is a similar question here as well: What does it mean to ...
10
votes
3answers
1k views

Risks of using a “free” (non-fee-only) financial planner for investing a substantial sum?

I have a substantial (at least to me) amount of money from the sale of a second home. The money is momentarily in a savings account at a big branch bank in the US. The amount is such that I have ...
10
votes
1answer
705 views

If I co-sign on a loan for someone, am I putting up money (is there a cost)?

Does it cost me anything if I co-sign a loan for someone?
10
votes
3answers
3k views

Why are wire transfers and other financial services in Canada so much more expensive than in Europe?

Why are wire transfers in Canada so expensive compared to Europe? The simple answer I've seen is because bankers are crooks, but I find that this oversimplifies the situation — I don't believe ...
10
votes
1answer
946 views

What fees should I expect when buying and/or selling a house?

I am looking at my options of buying a house out of college. I am comparing the cost of buying a cheaper house now and then in about 5 years moving up to a house that will be able to support a family ...
9
votes
3answers
4k views

Bank claims I'm personally liable for small business fees; despite leaving the company?

I opened a small business (partnership) a while ago and was a signer on a company account. I later left that company, with the other partner being responsible for whathaveyou, but was apparently never ...
9
votes
2answers
4k views

Why does a no-load fund have transaction fees? Isn't that a contradiction?

According to Scottrade's website, the T. Rowe Price Retirement funds are "No-load" but at the same time "Transaction fees apply". I thought the whole idea of No-load funds was not having any ...
9
votes
4answers
653 views

Why the different fees for credit and debit card payments?

Could somebody explain why the merchants are charged different fees when the customers use credit and debit cards?
9
votes
3answers
759 views

ETF vs Mutual Fund: How to decide which to use for investing in a popular index?

How do you decide between investing in an ETF, vs. in a mutual fund, for the popular stock indexes? Trading costs, tax efficiency, capital gains?
9
votes
2answers
230 views

Can I recover my deposit (for a future purchase) from a company whose assets are frozen?

We recently paid a catering company $1400 as a deposit for our upcoming wedding. The company was highly recommended by a number of previous clients and had been in business for over a decade. Then ...
9
votes
3answers
4k views

Do “growth of $10k” charts for mutual funds account for fees? I've found conflicting information

I've had several people advise me that the growth of $10k charts that you see for mutual funds, and provided by, e.g., Morningstar, account for the expense ratio of that fund (but not sales loads). So ...
9
votes
3answers
467 views

Choosing the “right” NAPFA advisor, and whether fees are fair, etc.?

As most of you perhaps know already, NAPFA is an association of fee-only financial advisors who do anything from pure investment to tax advising to "full spectrum" financial planning. As opposed to ...
9
votes
1answer
369 views

Should I be concerned about a loan refinance offer that adds $1000 to my loan in exchange for $1000 in cash?

I am in the process of trying to refinance an auto loan. I got 4.69% a year ago and should be able to do better now. The loan balance is about $13,000. I called to refi through the same company and ...
8
votes
2answers
3k views

What are reasonable administrative fees for an IRA?

I have a couple of IRAs (one roth, one traditional), at a local credit union for state employees where I live. I'm fairly young, so the money has simply been in interest-bearing accounts to date. ...
8
votes
6answers
99k views

Why do grocery stores in the U.S. offer cash back so eagerly?

Most grocery stores and Walmarts I've been to ask you how much cash back you want as one of the steps you punch in after you swipe your credit card. This happens after you have swiped your card so ...
8
votes
2answers
7k views

Credit cards: How is a cash advance different from a purchase? Why are the fees so high?

I have a couple of questions about the notion of "cash advance" on credit cards. How does the credit company decide if some transaction is a "cash advance"? Does the merchant tell the credit company ...
8
votes
4answers
349 views

Is my first 401(k) fund allocation reasonable, and with respect to fees?

I just started my first job after school and am now being enrolled in my company's 401k plan, which is handled by Vanguard. By default, I was put into the Target Retirement 2050 Trust II fund, which ...
8
votes
2answers
658 views

Am I responsible for an annual fee on a credit card I never picked up?

I just received a bill for a VISA card at a bank where I'm not a customer. There is just one charge on the card and it is for an annual fee of $120. The card is not actually made out to my name, but ...
8
votes
3answers
2k views

Best / cheapest way to exchange USD for foreign currency cash?

I'm considering taking a trip abroad in a few months, and would like to exchange a moderate amount of money (say less than $2,500) into a couple of currencies (probably 60% Euro, 30% GBP, 10% ...
8
votes
2answers
1k views

Is Buying American Shares in Canada a Good Idea?

I am looking at buying some American based shares such as SPY (the S&P 500 Index ETF), but I am in Canada. I am wondering if buying something like this will have any consequences (e.g. I have to ...
8
votes
1answer
3k views

Who owns NASDAQ? Does it collect fees from stock transactions?

If NASDAQ is a corporation, does it make profits by charging fees on transactions? When I pay a fee for buying stocks, am I paying the broker or NASDAQ?
8
votes
1answer
1k views

Can I sell my stocks for less by transferring them to another brokerage?

I would like to sell approximately $35000 in stocks currently held at Edward Jones. My total portfolio is approx. 1.5 million. Edward Jones will charge me 1% of the sale. Would it make sense to ...
8
votes
2answers
739 views

I have access to a 401K at work but the fees are high. Should I contribute, or do otherwise?

I have a retirement plan 401K from work. The employer does NOT contribute anything. I just enrolled into account and got to know that there are fees associated with the account. The fees is ridiculous!...
8
votes
2answers
368 views

Total fees for buying a house in the U.K.?

I'm thinking about buying a house in the UK (England). It will cost a max of £120,000 GBP. As an estimate, how much will all the fees total to, when put together? And apparently for houses less ...
8
votes
2answers
1k views

Are TD e-Series Funds worthwhile, or am I better off with ETFs? Why or why not?

I'm looking at e-Series funds offered by TD. They have low MERs and seem to offer a good low cost alternative to traditional mutual funds. What do you guys think? Am I better off with ETFs? Why ...
8
votes
2answers
729 views

How do 401(k) mutual fund expense ratios work?

Simple question - how do expense ratios work? Is there a fee that is calculated regularly, and the amount is taken out of my account? Is it subtracted from the funds earnings? Context: My work has ...
7
votes
2answers
2k views

401k Rollover - on my own or through my financial advisor?

I recently changed jobs and have a sizable sum in my old employer's 401k plan. It's doing fine but there are quite a few fees and I would prefer to roll it over. I'm considering two options. First, ...
7
votes
3answers
7k views

Retirement Funds: Betterment vs Vanguard Life strategy vs Target Retirement

I'm a 20 something grad student and would like to open a hands off retirement account with beta exposure to the market and would make monthly contributions. I'm fairly illiterate when it comes to ...
7
votes
4answers
34k views

Can I deposit checks into my credit union into another bank's ATM?

My wife and I have a Bank of America savings and checking account. We got hit with our first fee for the pleasure of having an account and I want to move to a credit union. My wife feels comfortable ...
7
votes
2answers
313 views

Estate agent wants to charge a large amount to change the contract

I live with two other people in a house share in the UK. One is moving out, and the estate agent who handles the contract wants to charge us £300 for the pleasure of changing a name. We think this is ...