How To Avoid Banking Charges:

I strongly believe that this post will catch the attention of many account holders who feel they are been overcharged by the bank and If you’ve ever felt like your bank charged you for something? you need to watch your bank accounts closely for unnecessary charges and if need be to make claims go ahead and do. You can use these tips to save yourself from extra banking charges.

Essential tips to avoid bank charges and keep the money that belongs to you.

Banking fees:  When you are opening a new savings account at a bank, make sure to pay attention to banking fees. Paying attention to these fees like minimum balance fees, the fee for taking out money too early out of a term savings account, atm card usage, applying for new atm card, maintenance fees etc. and avoiding them, can save you big money over time.

ATM fee: Using ATMs that aren’t affiliated with your bank can lead to charges from the ATM provider and your bank. Many banks after demonetization charging their customers after a specific number of cash withdrawals. That little sum of money can add up to perhaps thousands of rupees per year that you didn’t have to spend. this means that using other banks ATM machine cost a lot and to avoid these fees try using the bank machine which your card belongs to.

Account closing: Some banks require that you keep your account open for a period or face an early-account-closure fee and to avoid these fees make sure you have no reasons to close your account, ensure the account is functional too and avoid dormancy too.

Overdraft: Make sure that you don’t spend more than you have in your account; banks charge overdraft fees when you spend more money than you have in your account. Overdraft protection allows purchases to go through for a fee even if you don’t have enough funds in your checking account.

Use bank card as a credit card: Some banks may charge a small fee for using your bank card as a debit card instead of as a credit card after the first two, or five, transactions each month. This will be depending on the bank. Consider using your bank card as a credit card each time you make a transaction. This will help you to save you hundreds per year.

Interest-bearing savings account: If you are searching for a bank or financial institution, as a customer, you should consider finding one that has interest-bearing savings and checking accounts.

Keep Some Cash handy: Check your monthly expenses, make a list, calculate how much you may need extra and withdraw the same and keep it. It is always a good thing to keep some cash handy.

Download Bank Apps: If you are Android mobile user, then financial transactions can be at your fingertips if you download your bank app.

Ask for charge reversals If you were charged a large banking fee, such as an overdraft fee, don’t hesitate to call your bank and talk to them about it, and see if you can get the fee reversed. If it is not a regular occurrence to you, sometimes banks will be ready to reverse this charges.

Go online Most of the banks offer online banking services today. If you have a computer or smartphone with an internet connection, you can choose online banking and avoid paper statement fees. this services too will reduce the stress of you going to the bank spending time in the queue for a particular transaction which you can do with online banking.

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