215 Views

7 Tips To Avoid Bank Charges And Keep The Money Belonging To You

Bank depositors need to watch their bank accounts closely for unnecessary charges. Even a handful of bank charges could push a person deeper into debt, making it difficult to recover financially.

An online report by lifehack.org  gives seven tips to avoid bank charges and keep the money that belongs to you.

  • Understand what your bank can charge: The government sets regulations that prevent banks from charging outlandish fees. Despite some regulations, banks still get to charge relatively high fees for simple mistakes and services. Always read the fine print before opening an account. If your bank updates its policies, read the new fee structures so you understand exactly what it can charge.
  • Search for banks without unnecessary charges: Not all banks try to make money out of every transaction. If you’re tired of paying some unnecessary fees, search for banks that don’t charge for those services.
  • Bundle services to avoid bank fees: Banks want you to use as many services as possible, so they eliminate certain fees for customers who use bundled services. Someone with a current account might have to pay a small monthly fee. Adding a savings account could lower or eliminate that fee.
  • Use online banking to avoid paper statement fees: Now that most banks offer online services, members may have to pay extra for paper statements. As long as you have a computer and internet connection, you can avoid those paper statement fees.
ALSO READ  8 Tips To Know About Phone Photography

Most banks will let you choose whether you want paper or electronic statements. Ask if you have to pay for paper statements.

  • Choose an account with fewer charges: Even at the same bank, members may pay different amounts for similar services. You can save money by choosing an option that matches the way you prefer using your account. For instance, if you prefer going inside the bank to talk to a teller, you may have to pay a fee unless your account covers the service. Other accounts may charge for using the ATMs.

 Find an account that will charge you less for the services you plan to use.

  • Ask the bank to waive fees: Banks want to make extra money by charging fees, but they don’t want to lose long-term customers over piddling amounts. If you receive a charge that you think is unfair, contact the bank to ask about waiving the fee. Many banks will remove the charge from your account to keep your business.

Some research shows that 44 per cent of people have convinced their banks to forgive fees. You’re more likely to get a refund by talking to service reps nicely and moving up the chain of command until you find someone authorized to remove the fee.

Since banks want to keep their best customers, long-term members without previous charges may have more success.

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest Posts

Full Details Of How Pupils Study Under The Tree In Abuja Revealed (Photo)
Shocking
35 views
Shocking
35 views

Full Details Of How Pupils Study Under The Tree In Abuja Revealed (Photo)

MT - June 20, 2018

This may sound like a fairy tale but it is for real. Children still study under trees and unfriendly classrooms in many government owned basic education facilities…

National Publicity Secretary For KOWA Party Hands In Resignation
Politics
37 views
Politics
37 views

National Publicity Secretary For KOWA Party Hands In Resignation

PH - June 20, 2018

Mr Kunle Lawal, the National Publicity Secretary of Kowa party on Wednesday confirmed his resignation as the party’s image maker. Kunle Lawal disclosed in Abuja that he…

10 Things Saraki Said About Nigeria to Russian Parliament
Politics
45 views
Politics
45 views

10 Things Saraki Said About Nigeria to Russian Parliament

MT - June 20, 2018

President of the Senate, Dr. Abubakar Bukola Saraki, on Wednesday, addressed the Federal Assembly of the Russian Federation in Moscow. Saraki arrived Russia on Tuesday, alongside other…

Nigerian Teachers Urged By 2018 Global Teacher Award Winner To Stand For Prize
Education
46 views
Education
46 views

Nigerian Teachers Urged By 2018 Global Teacher Award Winner To Stand For Prize

PH - June 20, 2018

Andria Zafirakou,winner of the 2018 Global Teacher Prize,  has called out to Nigerian teachers to stand for the global prize as applications open for the 2019 edition.…

Here is the List of Executive Orders Newly Issued by the Buhari Administration
Politics
44 views
Politics
44 views

Here is the List of Executive Orders Newly Issued by the Buhari Administration

MT - June 20, 2018

The Muhammadu Buhari Administration has issued a total of 5 Executive Orders since it assumed office. 1. Executive Order (EO1) on the Promotion of Transparency and Efficiency…

From Grass To Grace: Read Inspiring Story of Funmilayo Ugoh
Nigerian Women
59 views
Nigerian Women
59 views

From Grass To Grace: Read Inspiring Story of Funmilayo Ugoh

PH - June 20, 2018

Every one has a past, and ther is no present without a past. But you must not let your past dictate what your future will be, only…

Learn More: Which Eye Brow For Which Face?
Fashion
53 views
Fashion
53 views

Learn More: Which Eye Brow For Which Face?

PH - June 20, 2018

This is just a short tip to make women understand their eye brows better. After going through this tip, you will discover what you want for yourself.…

What Mikel Obi Was Seen Doing Ahead Of Nigeria’s Next World Cup Match
Sports
58 views
Sports
58 views

What Mikel Obi Was Seen Doing Ahead Of Nigeria’s Next World Cup Match

MT - June 20, 2018

Super Eagles Captain John Obi Mikel may have adopted Cristiano Ronaldo’s approach ahead of Nigeria’s second group game against Iceland at the Volgograd on Friday.   The…

Full Text of President Buhari’s Speech at Signing of 2018 Budget
Business
54 views
Business
54 views

Full Text of President Buhari’s Speech at Signing of 2018 Budget

PH - June 20, 2018

President Muhammad Buhari on Wednesday finally signed the 2018 appropriation bill into law. The President assented to the bill more than a month after it was passed…

Meet Solomon Sobande, the Nigerian Manager of Late American Rapper, XXXTentacion
Best of Nigeria
71 views
Best of Nigeria
71 views

Meet Solomon Sobande, the Nigerian Manager of Late American Rapper, XXXTentacion

MT - June 20, 2018

fter the demise of the fast rising American rapper XXXTentacion, a lot seems to be unraveling on the rapper who wasn't quite popular on this side of…

Meet 94-Year-Old Nigerian Woman Who Is A Sickle Cell Patient (Photos)
Food and Health
64 views
Food and Health
64 views

Meet 94-Year-Old Nigerian Woman Who Is A Sickle Cell Patient (Photos)

MT - June 20, 2018

Nigerian doctor, Chioma @Deekachy_md, shared the photos of the elderly woman, Alhaja Alakija, who according to her has lived with sickle cell anemia for 94 years. She…

Shell Gets Approval To Complete N10bn Bonga Southwest Project
Business
64 views
Business
64 views

Shell Gets Approval To Complete N10bn Bonga Southwest Project

PH - June 20, 2018

After years of delay, Shell has finally received approval to complete the building of the world class Bonga Southwest project, following discussions held in London between its…

Why Are Most Nigerians Not Using The Face Unlock Feature Of Their Smartphones?
Technology
45 views
Technology
45 views

Why Are Most Nigerians Not Using The Face Unlock Feature Of Their Smartphones?

MT - June 20, 2018

Face unlock now seem to be the latest trend in the smartphone world as more and more smartphones now come equipped with facial recognition security, offering up…

The Right Footwear For The Right Season
Buzz & Trends
48 views
Buzz & Trends
48 views

The Right Footwear For The Right Season

PH - June 20, 2018

It becomes hard to choose the right shoes during the raining season, therefore many find a solution to these by wearing their desired shoe and still having…

How Much It Cost Me To Build LITV – Linda Ikeji Speaks On Newly Launched TV, Future Plans
Best of Nigeria
65 views
Best of Nigeria
65 views

How Much It Cost Me To Build LITV – Linda Ikeji Speaks On Newly Launched TV, Future Plans

MT - June 20, 2018

While speaking in an exclusive interview published by Pulse Nigeria Business Insider, Nigeria’s most famous and richest blogger, Linda Ifeoma Ikeji, who recently launched an online television,…

Check Out the Biggest SUV Ever, the Russian-Made 8 Wheels Shaman All-Terrain Vehicle (Photos)
Technology
66 views
Technology
66 views

Check Out the Biggest SUV Ever, the Russian-Made 8 Wheels Shaman All-Terrain Vehicle (Photos)

MT - June 20, 2018

Russia’s harsh environments like the snow ,swamps , steep terrains and deep waters are some of the factors that influenced this huge beast. The 8-wheel drive Avtoros…

5 Things We Learned from the World Cup So Far
Sports
54 views
Sports
54 views

5 Things We Learned from the World Cup So Far

MT - June 20, 2018

These are 5 interesting take-aways from the 2018 World Cup in Russia which is gathering momentum: 1 A World Cup Of Penalties  One of the major things…

Prof. Chukwuka Okonjo Praised By Buhari As He Clocks 90
Politics
49 views
Politics
49 views

Prof. Chukwuka Okonjo Praised By Buhari As He Clocks 90

PH - June 20, 2018

Prof Chukwuka Okonjo was praised for the educational and leadership qualities he possesses by our dear president Gen. Muhammadu Buhari. The famous mathematician and economist, Prof Chukwuka…

Loading...