It is essential to eliminate your unnecessary banking fees and cut costs
1. Switch your bank account in order to make sure it is the cheapest option that meets your needs and helps you reduce your current banking fees. Ensure you are earning as much interest as possible and are not paying incorrect banking fees. Refer to www.justmoney.co.za or www.moneybags.co.za to see which bank account is the most cost effective for you.
2. For pay as you transact banking packages, make sure you draw cash less frequently, as you will be charged a set fee every time you make a withdrawal. Draw larger amounts of money at a time.
3. Use ATM’s that are supplied by your bank and are inside of your network area. ATM’s from other banks or that are outside of your network, will charge you a higher amount of money to make cash withdrawals.
4. Bank transactions at big bank branches are costly. Alternatively, do all your banking over the phone, online or at an ATM.
5. Sign up for automatic debit orders in order to pay bills and to prevent missing payments and tarnished credit history.
6. Automatically withdraw money from your salary slip and allocate it to a savings account. Moving money out of sight will prevent you from spending it.
Manage you banking fees according to your financial needs. Save money and cut costs with banking where possible.