- If you take cash out of an ATM, use the one owned by your bank (in most cases you’ll be charged an extra fee for using another bank’s ATM).
- Consolidate your bank accounts. Banks often charge a maintenance fee for each account, so if you have an account you rarely use you might want to look at closing it.
- Consider opening an on-line bank account. Often these bank accounts have lower fees and charges.
- Make sure you’re using the right sort of account for your needs, ie if you make a lot of transactions, you shouldn’t be using an account designed for saving and only one or two monthly withdrawals – as you may incur extra fees.
- Shop around for a good deal. There is a lot of competition amongst banks and many have new accounts that charge lower fees and offer higher interest. It may be worth comparing these to the accounts your already have.
The views or information given in this article are not necessarily the views of AMP or AMP Adviser Businesses. It provides general financial information and is not intended to provide financial advice. For personalised financial advice, we recommend you contact us.