Renato last week checked his account statement and realized that the amount paid due to the use of card, minimum account services, and other millions of fees imposed by his bank, added up a considerable amount, not to say abusive, of your invoice!
Every bank customer pays a kind of monthly fee to be able to move the money in the account, either to make interbank transfers (DOC and TED) or to interest charged on the cards. Therefore, those who do not usually read their extract carefully often do not even notice that these rates exist. What Renato, and many other people, may not be aware of, is the fact that banks are constantly adding new rates to try to increase profits.
Did you get the same fright as Renato when he understood his statement? So, do it like it: learn how to reduce bank fees! Come with Harry Bailly .
1. Have a good relationship with your manager
Like any relationship established between two people, respect, education and honesty are essential for building a harmonious, clear and transparent dialogue. For Renato, that made all the difference at the time he needed to clear his doubts about bank fees and how to lower them. In addition, he has always kept up with his bills, never delaying bills or using credit without funds.
So follow the tip: Have a close relationship with your manager so he can check your rates and help you find the best solution.
2. Consider making a digital account
Among the various fees charged by the banks, without a doubt, the main ones come from the maintenance of the account and the tariffs for transfers of resources to other banks. And for those who do not know, a very simple way to save money is to open a digital account! Renato took this measure to make transactions without costs and with much more convenience.
In the digital account, all transactions are exempt from tariff charges since they are carried out by electronic means, such as internet, cellular, and only tariffs are charged for transactions made in personal service! Check with your bank if they offer this type of service.
3. Beware of additional service offerings
There is a lot of competition between banks, so, just like Renato, keep your eyes open with regard to the offerings to the customer! Many spreads on an account can be taxed without you noticing, causing you to lose money that can be saved. Pay attention to the fact that banks often change terms and conditions to make the offer seem more advantageous when, not always, it will be!
Many banks also, when doing the promotion, say that they are exempt of taxes but, after a few months, they begin to charge them normally, claiming that this exemption was for a certain time. This, even, was one of the points that made the cost of Renato’s account very high!
To address this, he went on to look at each product in the bank’s stock set. Although service prices are lower when integrated into a package, Renato often ended up hiring superfluous items for his bank move. Another prudent measure was to better evaluate the contracted services, not to use products unrelated to the package.
4. Plan how you will use your account
Renato discovered the importance of planning! He paid additional fees simply for not planning the use of the account, such as on a trip, for example. He could not have stopped telling the bank that he was traveling abroad! In the next, do as Renato, let us know if your bank has some agreement with the banks in the countries where you will be traveling, because using them will be significantly reducing the rates.
Be aware, too, of fees charged for withdrawals and credit card purchases. If you have the option of walking with cash and making few withdrawals, you will avoid a major inconvenience with these small fees that ultimately become big and heavy!
5. See if the package you have in your account is in accordance with your habits
Renato had an unlimited package and almost did not use the services. Other acquaintances of it take several statements a week without knowing that the bank only allows one, paying a lot of fees in addition to the basic package. That’s why you should let the manager know which package is right for you.
6. Have an account with no fees, if possible
In his research, Renato discovered bills without fees but did not meet what he needed. All banks offer one type of account where there is no maintenance fee and some free services. It is the “essential services” account, which banks are required by law to provide, although it is not much advertised by financial institutions.
Another type of account that has no maintenance fee is the salary account. However, this account only serves to receive the salary, and does not offer other services. It is open only by the company that employs it and is used to receive pensions, pensions and benefits as well.
Did you see? No need to pay excessive fees at the bank. Keep an eye on it and value your money by using it in what really matters!