Many of us often face unnecessary baking charges once or twice. Such charges are applied because of our own silly mistakes. Here are some tips that can help avoiding such unwanted charges:
- Check banking fees before opening an account
Every bank has its own banking fees. It’s important for an individual to better check such list of charges before opening an account in any bank. Saving from such small charges can help saving a big amount over time.
- Do you know about ATM fees?
Many banks charge a fee for using an ATM of some other bank. After demonetization, banks now allow a limit number of free transactions via other bank’s ATM. After the limit, bank is charging fee to its customers. This little fees that bank charges can result in creating thousands at the end of a year.
- Check charges on account closure
There are some banks in India that ask you to keep an account open for a specific time. And if the account gets closed before the mentioned period, the bank charges fees over it. So it’s better to check the same about your account.
- Keep in mind the overdraft fees
If you spend more than what you have in your account, the bank charges overdraft fees over it. The overdraft protection allows you to do the purchase, but it comes with a fee even if you don’t have enough funds in your current or checking account.
- Always look for accounts on which interest is paid
Whenever you are planning to open an account, always look for those banks which are interest bearing. This means that look for those savings account or current accounts on which interest is paid.
- Learn to ask for charge reversals
It often happens, that the bank charges the individual with large banking fees like an overdraft fee. At such moments, one must not hesitate to go and talk to the bank officials about it and get the charges reversed.
- It’s time to get digitalize
Every bank these days are allowing the users with online banking facilities. Digitalization is a convenient option rather than paper work. This is an easy way whereas it avoids paper statement fees. Check for offers and look for new checks online only to avoid other issuing charges.