The Courier-Mail

Don’t simply stand and deliver

You can avoid paying extra fees for bank use and bills, as those little costs can add up, writes Sophie Elsworth

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HANDING over unnecessar­y cash to banks can easily be avoided by adopting some simple measures.

Being a little more organised in your approach to how you do your everyday banking can end up saving you a lot of cash that’s better off in your pocket than the banks’.

Here are five ways to do your banking free.

1. CHOOSE YOUR ACCOUNT

Find out if you are paying fees on your everyday transactio­n account – and if you are, it’s time to make a move.

There are plenty of fee-free accounts on the market so don’t be lazy, move to a different bank if you are coughing up money on monthly accountkee­ping fees.

This is just an easy cash grab that you can avoid.

2. ATMS

Find out what ATMs you can use without being gouged a fee. Often banks are aligned with other institutio­ns that allow you to use a host of machines.

Ask your bank if you don’t already know which ATMs you can use free, and find a machine that you can easily access close to your work or home.

3. PAY ONLINE

Paying your bills or setting up direct debits from an everyday account will prevent you from forking out extra to pay a bill.

You’ll often get stung if you pay the bill with a credit card or sometimes if you pay over the counter.

If you’ve set up automatic direct debits, always make sure you have enough money in your account or face being hit with an expensive over-the-limit fee.

4. HOME LOAN CUSTOMERS

If you have a mortgage there’s a strong chance you’re already paying fees on your home loan account.

Consequent­ly you shouldn’t be wasting money on transactio­n account fees – if you are, contact your bank and ask them to waive these costs.

5. PAY ON TIME

Mark in your diary when bills are due and make sure you allow enough time to pay them and have them received at the other end by the due date.

When you are late for bills it’s likely you’ll be hit with a fee from whoever it is you owe the money to.

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