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Bank Charges
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Bank charges are inevitable. You may think youre getting a free banking service but the chances are you arent. How much you pay in bank charges is up to you as well as your bank. Provided that you meet the terms and conditions set out for your bank account you will be able to minimise the bank charges you incur.
Many bank accounts make no charge for day-to-day services such as cash withdrawals via ATMs some dont even charge for cheques. But if you go overdrawn you could find yourself facing penalty charges. Exactly how big a penalty these bank charges should be is under investigation by the Office of Fair Trading.
Banks offer a wide range of services including stopping cheques foreign currency issue and foreign currency transactions bankers drafts etc. for which there may be additional bank charges.
Increasingly banks are offering packaged bank accounts that come with a variety of extra services including for example travel insurance and pre-arranged overdrafts. These packaged accounts come with bank charges built in monthly fees of £10-15 depending on the facilities on offer.
©Moneyextra.com
Moneyextra.com recommends you take independent financial advice before acting on any article
Back2009-02-17 00:00:00 © Moneyextra.com
Bank charges are inevitable. You may think youre getting a free banking service but the chances are you arent. How much you pay in bank charges is up to you as well as your bank. Provided that you meet the terms and conditions set out for your bank account you will be able to minimise the bank charges you incur.
Many bank accounts make no charge for day-to-day services such as cash withdrawals via ATMs some dont even charge for cheques. But if you go overdrawn you could find yourself facing penalty charges. Exactly how big a penalty these bank charges should be is under investigation by the Office of Fair Trading.
Banks offer a wide range of services including stopping cheques foreign currency issue and foreign currency transactions bankers drafts etc. for which there may be additional bank charges.
Increasingly banks are offering packaged bank accounts that come with a variety of extra services including for example travel insurance and pre-arranged overdrafts. These packaged accounts come with bank charges built in monthly fees of £10-15 depending on the facilities on offer.
©Moneyextra.com Moneyextra.com recommends you take independent financial advice before acting on any article 2009-02-17 00:00:00 © Moneyextra.com