Published On: Thu, Jun 14th, 2012

Things to Get for Free from Your Bank

It does not matter which bank you go to wherever you are in the world. You can get things for free from your bank… if you only know how to ask, inquire or even demand.

Banks stay in business because of you and me. We are their customers and this empowers us to hold them accountable for more than keeping our monies safe and available to us whenever we need it.

So, aside from being the repository of our hard-earned money, what else can our banks do for or give to us , for free, that would make our lives easier?

Bills payment facility : Banks can consolidate our bill payments. Even if you don’t have a credit card with them, enrolling your savings (or checking) account and bills onto their online systems would allow you to pay your bills via the bank without having to go there and actually line up every time a bill becomes due — and at no extra charge.

Utilizing the bank’s online system also allows you to see your transactions in real time. It is easier to check on payments or salaries that came in and what amounts went out. No overdraft fees anymore because you will know exactly how much you have in funds before you whip out your checkbook.

Waived annual fees:  In case you do have a credit card with the bank where you have your savings or checking accounts (and even if you don’t have it with the same bank) you can actually ask the bank to waive your annual membership fees. Ever since I found out that they can do this I have never paid a single annual membership fee on all my credit cards again.

And, believe me all you have to do is ask for them to waive your membership fees. This works especially well if you have a good payment history with them. One card even granted me a lifetime-no-membership ‘reward’ for being such a great credit card user and payer.

Automatic savings setup: This can be likened to your good ol’ envelop system where you divide your earnings into envelops for all your payables and then for your savings. Only with this system all you have to do is ‘instruct’ the system to debit a fixed amount from your paycheck and transfer it to your automatic savings account. Aside from the automation, the account earns interest too, if you meet the required amount and term.

 

These are just three of the most common bank services you can get for free. Get in touch with your own banks and ask them what else you can take advantage of as far as their services are concerned. Again, all you have to do really is ask.

About the Author

- is a former Entertainment News Editor at The University of Tennessee's independent student newspaper, the Daily Beacon. She acts on her passion to improve citizen journalism through various initiatives such as the OJO, Citizen Journalist League, the World Journalists Summit, and InterJOURN. Leslie is co-author and creative director of various citizen journalism books that is sold in the United States and the U.K.

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  1. Sikh says:

    It has become really difficult to find banks that can provide free checking or savings. MY bank used to provide free checking if I deposited $50 every month in savings. Recently they asked me to keep a savings balance of $5000 to earn free checking… something impossible for me.

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