Latest posts by Trevor Barrett (see all)
- What Does Financial Freedom Mean To You? - September 4, 2011
- It Is A Good Plan To Start Saving Money As Soon As Possible - August 31, 2011
- You Do Not Have To Pay Bank Fees - August 18, 2011
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As we all know the banking industry has been going through tough times in the past few years, however, they have a novel way of getting some income by increasing the bank fees that we pay. Their charges seem to have shot up and they have found extra ways to charge us.
But it really is our own choice whether we pay them or not.
Here are some methods we can use to avoid paying bank fees at all.
a) A monthly fee for using a checking account can be negotiated. If you have banked with them for a long time and they introduce a regular charge, go in and discuss it with them, flatter them and tell them how pleased you have been with them up to now. If they still insist, tell them that you will be looking to move your account to a bank without the charge. There is a good chance that they will be considerate but if they still insist then close the account.
b) Sometimes you will make a mistake and get hit with an NSF (not sufficient funds) fee. It always amazes me that they will refuse to pay a check for $10 and charge you $15 for doing it. However, if it is the first time it has happened, apologize profusely and plead your case with them. Explain that the circumstances were out of your control and that it will
c) It is important to make any credit card payments on time, that is something that the banks are very intolerant about. Even if you are only one day late, which could even be caused by a holiday period, then they will charge you. It is unlikely that they will ever refund this fee but it is still worth a try.
Here are a few tips to help when communicating with your bank representative.
Flatter them and be polite because you will not get the result you want if you are rude or aggressive with them.
Keep calm, use reason and do not raise your voice at all.
Be succinct with what you are telling them, have all your account details ready and answer any questions they put to you.
If possible visit them in person rather than call them on the phone, it is much easier to get your true feelings across that way.
Whatever has happened with your account, the bank do not really want to lose customers. They often have no idea how honest and sincere a person you are which is why a personal visit is helpful because in today’s world of banking we often just seem to be numbers on a computer and cannot build a professional relationship like we used to. If all else fails do what you said you would do and find some other bank that will not charge you for silly things.
With this simple money advice you can banish bank fees for ever.
