Free Banking Tips

You might have been wondering on how much bank earns each year just plainly from the overdraft fees they charge whenever accounts get into overdraft. We usually end up saying “Oh My God! My bank is killing me with this overdraft!” or maybe we say “nickel and dime is the banks job.”  The worst is we call our bank and we tell them “give my money back!”

So now, I have come up with 5 major things we have to ask ourselves right before we make an online purchase, before we step out of the house or right before write a check and process an automatic draft. Yes, I say “major” because overdraft fees have been a major reason on why we hate banks.

1. What is my available balance?

You might have been wondering on how much bank earns each year just plainly from the overdraft fees they charge whenever accounts get into overdraft. We usually end up saying “Oh My God! My bank is killing me with this overdraft!” or maybe we say “nickel and dime is the banks job.” The worst is we call our bank and we tell them “give my money back!”


2. How much can I spend for my daily purchases?

If you need to keep a register of all your transactions then do it. Pull out your notes every time you made a purchase, this will greatly help you easily find out what should be your actual balance and will help you identify which of those merchant have overcharged your account. There may be merchants who may not intentionally overcharge you but you will not be able to track that if you will not look closely at your transactions.


3. Am I expecting checks or any automatic drafts from posting?

This part is the most confusing and the most difficult part to control. Monthly bills are the number one reason why we are getting fees. When we write checks we don’t know when they will clear so we tend to forget them. Automatic drafts or ACH are also confusing as they can take one to three business days to clear or worst sometimes it can take more than that not counting holidays and weekends.




4. Aside from those mentioned in #3 are we still expecting other extra charges such as service fees and other bank charges?

Keep in mind that banks may also charge some fees if a certain balance requirement was not met. In some cases we also have to remember extra charges such as ATM fees, International transaction fees, late fees and even fees assessed by third party services, good example for this is Bill Matrix as this also comes out automatically after we make a purchase.


5. Am I confused with my balance?

If you are confused with this then I suggest you call your bank as they can help identify what have happened or what could happen to the account. They can also give some advice that can still avoid account to overdraft.

Every transaction we make gives a domino effect in our balance which in turn gives us continues and never ending fees. Life is tough and we are experiencing financial hardship.  Being wise on how we manage our cash flow will surely help us resolve this issue. We live in a fast paced environment and we have to admit ourselves that we need to rely with our banks and that is the worst part. If your current bank does not work for you try to look for a local bank in your area or check with other national bank that you can help you succeed financially.