If you’re worried about money, then the last thing you need is unexpected bank charges.
Somehow, they always come at the worst time; when you have no money in your account, take you into your overdraft or just come at the worst time. Well, we’re here to help and have created some great ways you can avoid nasty bank changes;
Do Your Research
Before you decide which bank you want to put your money in, have a look around and read the small print. Some will offer a free overdraft on X amount, others will give you day-to-day charges and others will just charge you a flat fee for going into an overdraft.
This is important to know as you can prepare you any unexpected fees and account for them when spending.
Download Banking Apps
Downing your bank’s app on your smartphone or tablet allows you to keep up to date with your spending.
If you also go paperless you may also avoid any fee’s that come with paper statements. You will be able to change the way you receive your statements so go green and avoid any extra charges.
Ask Your Bank to Waiver the Fees
Your custom is worth so much to the bank so it is worth asking them to bypass and remove the fees from your account, especially if it’s not a common occurrence.
They don’t want to see you suffer but you can’t expect them to void all charges on your account. Call them up and see how they can help you, if you’re struggling with payments then they may also be able to give you some advice or point you in the right direction.
Set Up Text Alerts
Some banks offer the service of texting you when you’re nearing zero on your account, don’t have enough for certain payments or have gone over your limit.
This is a good service, and it’s usually free, it will keep you up to date, remind you to put money in your account and generally just keep you on top of everything.
Research Bundled Accounts
Some banks will offer bundled services such as insurance, agreed overdraft and travel cover, although this is a great extra to have, you will probably have to pay for it so before you sign up check that you can opt out of this.
These services often have a criteria you have to match before you’re applicable otherwise you have to pay, and if money is already a little tight, you don’t need another avoidable charge.
Sometimes, you just can’t help going into your overdraft, so don’t beat yourself up.
Separate your money to control your spending, give yourself X amount every month to live off and make sure your bills are paid on time.
The most important thing is to know your monthly incomings and outgoings and if your current bank is frequently giving you additions fees, then leave and speak to someone else about what they can offer you.
If you ever feel overwhelmed by money or your personal debts, please call a dedicated helpline who will be able to give you impartial advice.
