Thursday, July 5, 2012

Bookkeeping Tips: 4 Tips to Get around Banking Fees

Avoid paying fees by scrutinizing accounts more closely and taking a new approach to how you do business with your financial institution:
  • Request a Fee Schedule -  request an updated copy of the fee schedule and discuss how new fees will impact your relationship.
  • Revise Your Bank Relationship - customers who have a deep relationship with their bank should consider a relationship pricing account. Relationship pricing is when the bank considers the customer's entire relationship (including loans and investment products) and provides rewards or incentives to the customer. 
  • Read Everything from Your Bank - All disclosures and correspondence from your bank must be read and understood in order to effectively reduce the number of fees you pay.
  • Dip into Your Loyalty - Have you been a loyal customer but was hit with an overdraft fee? Ask to have it waived. 

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