Have you noticed that every month some rates are deducted from your account? At first they seem harmless, as some are only $ 2. However, adding all these rates during the year, the bank may be taking more than $ 100 from you.
An important tip for you to save on bank fees It is choosing a plan that meets your needs. For example, if your plan provides 4 statement queries per month and you always make more than 4 statements, ideally talk to your account manager for a switch to a plan with more statements included.
Generally, despite having a higher fixed cost every month, in the most expensive plans is the value of the package lower than hiring some services? extracts, DOC and withdrawals, for example? individually.
When you use more services than the plan offers, for example, make more withdrawals than the amount included in your plan, you end up paying extra fees. Depending on the amount of extra fees you pay each month, it may be more economical to switch to a more complete plan.
Review your bank statement and see how much you're spending on these extra fees so you can get organized and save more every month. See below our suggestions on how to save on bank fees.
Tips for Saving on Bank Fees
- Keep track of withdrawal and statement withdrawal limits to avoid paying extra fees;
- Make sure that the debts on your account are not improper charges;
- Use the checkbook only when you have no other option. Electronic transactions are usually cheaper and some are even free;
- Beware of payment of bills and bills. Some banks charge fees for credit card or internet payments;
- 24-hour tellers that serve multiple banks charge even higher rates than their own bank tellers;
- Check the number of check sheets you can print without paying an additional amount;
- Prefer not to print account statements and check movements only on screen or over the internet to avoid extra expense;
- Transfers between different banks like DOC and TED have a cost per transaction and are not very cheap. Use them only if needed and always opt for ATM or internet transfers, as they are cheaper;
- Transfers between accounts in the same bank are usually free, but have a limit of movements. Be alert;
- If you move your account a lot, the ideal is to have a plan that already includes a larger number of transactions. For in accounts with low transaction limits, the cost per transaction is higher when there are transactions over the limit;
- Try to have only one bank account. The more accounts you have, the more transfers and transactions you will need to make, and the more money you spend.
Follow these tips and take good care of your money so as not to spend on services that are often not needed. Good spending planning can save you a lot of your income in the end.
How to save on bank fees (January 2021)
- Career & Finance