In my frugal life, I cut all corners that I can. I would like to share this with those people who are unaware that if you have a checking account, the bank where you do business will: make copies, fax papers, notarize papers, and make your money orders - all for FREE! I use to work at a bank, so I know this.
By Missy from OH
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I am currently banking with Wachovia, soon to be Wells Fargo. Every time I use my debit card, $1.00 of my money in my checking account gets transferred to a Way-to-Save account.
Our college freshman recently overdrew her checking account by $8 when paying for this semester's books. We contacted our bankand explained the situation to them. They reversed the bank and the merchant's overdraft fees which totaled $61.
For senior citizens, check with your bank to see if they have any special services for seniors. I questioned some things on a bank statement regarding a debit payment that I did not authorize.
Tips for saving money on bank fees. Banking is an extremely competitive business and there are many banks (at least where I live) that charge few or no fees. They tend to pay less interest on savings accounts but what bank pays much interest anyway?
If you're fortunate enough to travel overseas, first check with your credit card company about any daily fees and what their policy is on the Monetary Exchange Rate.
ATMs are a wonderful blessing. They allow the freedom to bank any time of the day and provide instant access to cash. This is what I once thought, but now I wonder if they are the blessing they seem to be. Instead, I find them to be thieves in bankers' clothing.
I realize most people have already made their resolutions for the New Year, but try adding one more. Decide that you are going to get the biggest bang for your buck out of your banking services this year.
I was ill for some time and unable to keep up to date with my finances and the organization of my bills. I incurred several late charges over the period of one year. I would pay my bills, but they would be between 1-4 days late and I would receive a late charge.
A great way to save money is to work with a bank that has online banking. You can see where your money is going almost immediately...
Bouncing checks almost always ends up being a lot more costly than sending in a late payment. Not only do you end up getting the late charge, you also get a 25 to 30 dollar fee from your bank.
My husband and I have a debit card that was causing us a lot of problems. He'd use the card for everyday expenses (gas fill-ups, etc.) and forget to record the purchase and vice versa. Unfortunately, there were a few times that these slip-ups cost us $30 overdraft fees!
Check your debit card charges often. Central NY area has had a rash of unauthorized charges. Chase Bank told us that criminals can get your info from certain ATM machines and make a workable card for themselves.
Where I bank, they have a minimum balance requirement to avoid monthly service charges. Since my checking account seldom contains an excess, I was being dinged for $2-3 each month.
Banking Tip - Loan Changes. Spoke to my banker at the credit union today. He mentioned how things are changing they no longer add on to existing loans. . .
If you have a credit card you have probably received balance transfer offers which offer to lower your interest rate. Make sure to factor in the balance transfer fees and to look at the actual interest rate before accepting one of these offers.
This is a page about saving money on checks. There are a number of options for buying checks, from your bank or retail suppliers.
This is a page about online banking advice. Today much of your banking transactions can easily and securely be done online.
This is a page about using credit unions. Credit unions are member owned and governed by elected board members. Often membership is limited by employers.