Saving Money on Bank Fees,
By Nikki
Willhite
www.allthingsfrugal.com
I mentioned a few weeks ago that I had my
first bounced check! It wasn't a good feeling! You work so hard to save money
and then to see it just wasted is a sickening feeling.
Through my experience I learned about
bounce protection, which didn't cost anything. All I had to do was ask, and then
they changed the name of my account and I had it.
Here are some other ways to make sure that
you don't waste money banking.
*Check out all the different type accounts
each bank offers. Many banks now offer free checking. Some require a minimum
balance, others that you use direct depost for your paycheck. Others have no
restriction.
*Consider an online bank. Most of them
have free checking, bill pay, and ATM.
*Put your money in a credit union. The
fees are less, and loans are easier to take out. Often the service is a lot
better.
*Avoid using ATM cards. If you can't make
it to your bank, a lot of people get a little cash each week by writing their
checks a little higher at the grocery store and getting cash back.
*Be as careful as you can in your record
keeping to avoid fees for bounced checks, or dipping below minimum balance
requirements.
Faithfully reconcile your bank statement
each month. If you get off, it can be hard to get your figures straight. Take
the time (and it may take a lot of time) to be accurate, and it won't be so hard
to keep it that way.
*Order your checks online or through mail
order. They are much cheaper that way, although in some cases the quality will
not be as good. Be sure you get your phone number on the check. You may have to
creatively pick a spot to put it in, as they may not have an input field for it.
This happened to me, and I latter noticed people added their phone number in
other fields.
Switch mail order companies to get the
first time buyer rate.
Here is the best place I have found:
https://www.walmartchecks.com/
*Write less checks and use cash. Your
statement will be easier to balance, and you will be troubled with less
paperwork. If you are very disciplined, you can use a charge card with a
cashback bonus.
*Avoid check fraud by never leaving any
blank spaces when you write a check. Shred or tear up old checks and deposit
slips before you throw them out. Don't leave letters in your mailbox with checks
in them. If your mail is delivered to your curb, pick it up as soon as possible.