Sick of bank fees?

Are you sick of extra bank fees on your accounts?

Here are some handy tips from the Save Money Hound to help you reduce bank fees.

Save money on bank fees with fee free accounts – Are they really fee free?

Read the fine print and ask for a copy of the terms and conditions of the products you are thinking of signing up for.

For cheque accounts, find out exactly what fees the bank is billing you for. Bank fees to look out for include financial charges and service fees.

For credit cards, find out what interest rate you are paying and whether there are bank fees such as a joining fee, card replacement fee, supplementary card fee, cash advance fees, fee for dishonoured cheques and an annual charge.

A credit card may look good on the surface without an annual fee but then be accompanied by hefty interest rates.

Read Save Money Hound’s article on how to save money using your credit card – friend or foe?

Save money on bank fees and negotiate with your bank

Hopefully your bank thinks of you as a loyal customer and would like to maintain a good customer relationship!

If you have several accounts with your bank, and are thinking of opening up another account, negotiate with your bank to see what special offers they can give you.

Although it is a hassle to shift all your accounts to a different bank, if your current bank can’t provide you with the products that best suit you and the bank charges are not the best rates, it might be time to think about shifting.

Save money on bank fees with online savings and mortgage accounts

Sick of queues at your bank?

It might pay to consider opening up an online savings or mortgage account. Great deals can be had on the internet with banks offering hassle free and free fee online accounts.

For savings accounts, shop around to see who provides the best interest rate and also shop around to make sure the type of savings accounts being offered meets your needs. Thank goodness. No more queuing up at the bank!

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