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Dec/11/2012 - 04:33:56 pm

Some Bank Fees and How to Make Them Disappear

Avoiding your bank’s fees should be a priority for you as this can save you a lot of money over a long period of time. Avoid overdrafts and keep a minimum amount within your account in order to stay away from as many of these fees as possible. When all else fails, you can always ask the bank to drop fees for you. The worst that can happen is they say no.

There are a lot of bank fees out there, and you will want to avoid as many of these as possible. With the right bank, you can make a lot of fees simply disappear. This can be most easily accomplished with an online checking account. The internet has made our lives easier in so many respects and banking is one of the biggest areas of improvement. Giving yourself more power over your money is important and if you can make your banking life easier by doing this, you definitely should.

An online checking account is helpful because it gives you an ease of access toward managing your money. For example, if you overdraw your checking account, you can be alerted of this via email, if you wish, and then log online into your banking account and transfer funds electronically. This can help you to avoid an overdraft fee without the hassle of having to go into your banking branch and filling out paperwork. Online banking can be a big help in this respect as it makes things much more accessible to you and lets you fix banking problems on your own time.

Another thing is that many banks offer better interest rates on online savings accounts. The thing to remember with this is that there are sometimes regulations on how many transactions you can have per month on some of these accounts. By having a strictly online savings account, you are giving yourself a big advantage in other areas, too. You will get more interest, yes, but you are also increasing the ease with which you can view and manage your account. You don’t have to drive into the bank for your savings deposits, you can simply transfer money between your various online accounts.

Many banks also will apply fees if your account falls below a certain minimum balance. With online banking, you can see exactly where your balance currently is without the guesswork of keeping a checkbook or going into the bank branch itself. Keeping enough money in your account is a great way to avoid fees and oftentimes this fee is very avoidable. Just by staying constantly updated and aware of things, you can avoid some of the fees you might incur.

Ideally, you should never pay fees. In a perfect world, you would always have free checking and you would never overdraw your account. If you do overdraw your account though, sometimes your bank’s customer service department can reverse these charges. This is not an option you will want to abuse, but if you are only rarely making this banking mistake, your bank’s friendly customer service staff might be willing to occasionally wave such a fee. Even if they say no, it can’t hurt to ask about this. Just remember, you want your banking relationship to be advantageous to you; you don’t want to abuse this relationship so don’t ask for fee reversals on a regular basis. Still, you can’t get fees reversed if you don’t ask, so don’t be afraid to stick up for yourself when you can.

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