Bounce Energy Savings

I consider bank fees the devil. I was once charged $35 dollars for accidentally overdrawing two dollars for a Big Mac. Gimme a break! Not that many people carry cash these days but when you do need it, it seems like there’s not an ATM in sight. And if there was an ATM, it’s an ATM from another bank. Bank fees are avoidable charges that people accidentally incur. Here are some tips on how to avoid being charged extra by your bank.

Do you know if your bank requires you to have a minimum balance? You might want to find out because you can get charged a fee by going below the minimum balance. If your bank requires you to have a minimum, you might want to consider switching banks so you can avoid paying those fees. Whether or not you get charged with a fee, it’s still a good idea to have a minimum balance to keep you from accidentally overdrafting.

Ever since I received my first overdraft fee, I’ve been paranoid to always know how much money is in my bank account at all times. Today’s technologies have made checking your bank account simple. Online banking allows customers to conduct financial transactions with their bank via the internet. Users can check their balance, transfer funds between other accounts, and pay their bills online. For customers on the go, there’s mobile banking. Users can check their accounts on their smart phones or by simply texting a command to a number provided by their bank. I love mobile banking, before I make a purchase, I text “Bal” to “93557” (“WELLS”) and I get a text back stating how much is in my checking account.

Limiting your ATM withdrawals will also help you avoid bank fees. If you don’t use your bank’s ATM, you could get hit with multiple fees. You can get charged for using another bank’s ATM plus your own bank can charge you for not using their own ATM.

If you follow these tips and still incur fees, you can try to talk to your bank about having them waived. Many banks will consider waiving it for good customers.

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   March 9, 2010 at 6:28 am

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