Browsing Tag

Banking

Five Tips On Getting The Most Out Of Your Bank Account

There are a lot of financial institutions out there that can provide you with bank account services, however, regardless of the bank you choose to do business with, there are five key things you can do to make the most of your banking experience.

1. Keep only the minimal amount required in your checking account. Most banks pay little or no interest on balances kept in checking accounts, so every time you get paid, keep only a minimal amount of money in your checking account, and put the rest into savings. That way you can earn some interest on your money and make it work for you.

2. Learn how you can bank for free. Most financial institutions provide a way for you to do your banking for free either by maintaining a minimum balance or by only doing a certain number of transactions. Most banks also provide free banking to seniors and students. It is well worth your while to give your bank a call and find out how you can bank for free.

July 10, 2012

Banking

Could The PPI Claims Epidemic Jump Over The Atlantic?

In the UK PPI claiming is a huge market, some of the biggest banks and lenders have set aside billions of pounds worth of capital to cope with all the complaints they are likely to receive in 2012. The problems began when it became evident that lenders were selling the controversial financial policy to people who were not eligible to utilise it if needed.

What is PPI?

Payment Protection Insurance is a policy that is bought in conjunction with a credit card or loan that protects the holder against being unable to meet future repayments because of sickness, accident or unemployment. It’s a product that is widely sold around the USA and Canada but has seen little or no issues as yet, whether that is because the complaints are being protected by state so that they do not follow in the footsteps of the UK or the problem does not exist is unclear.

January 23, 2012

Banking

A Way To Get Free Banking In Canada

If you are tired of paying all those bank fees for using your debit card, a great way to eliminate them is to use your credit card instead. This should only be done, however, if you pay off your balance every month when it is due, otherwise, you are stuck with incredibly high interest charges and then there’s no point in doing what I am suggesting.

August 12, 2011

Banking

How Your Bank Can Save You Money

If you think your bank is costing you too much money, then now is the time to look at ways your bank can help you save money rather than spend it. Although there will always be bank charges and fees, there are ways to save money using banks and make the most of their services. Here are some tips about how to cut down on bank costs and save yourself money.

Savings

One way to save yourself money through your bank is to open a savings account. If you have a fair amount of money in your current account, then transferring it to a savings account with a high interest rate is a good idea. Having a savings account does more than just save you money; it earns you money. The interest generated from a savings account means that you are making money from the money that you store. However, you should remember that many banks charge a fee if you go below a minimum amount in the account, so keep track of this in order to save yourself money.

ATM charges

Another way that you can save money when banking is to use free ATM machines. Some ATM’s charge you a fee to take money out, either for the convenience of because the ATM does not belong to your bank. If at all possible you should stick to ATM’s that don’t charge you money. If you do this regularly then you could save yourself ?100 a year or more.

March 1, 2010

Banking

Avoid ATM Fees

ATM use can be costly if you aren’t careful. Before using an ATM, I would recommend first finding out how much the fees are going to be. Check with your financial institution (FI) to determine what fees they will charge you. Keep in mind that even if your FI doesn’t charge you, if you use another bank’s ATM the other bank will charge you! If you discover that you are being charged for ATM withdrawals, either make one large withdrawal instead of several smaller ones, or consider using your debit card or credit card instead of using cash to make purchases. You can also ask for cash back at local grocery stores and other retail stores. ATMs certainly are convenient, but make sure that you are not paying excessive fees when using them. Here are two questions to ask your FI:

1. Am I charged any fees if I use your ATM machines?

– for cash withdrawals?

-for transferring funds?

-for balance inquiries?

2. Do you charge me fees if I use another FI’s ATM machines? If so, how much?

May 20, 2009

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