Here’s find out how to find the very best deal on the market
Keehn said people should sit down every year to review their checking account money flows and shop around for higher deals.
She said determining your spending habits can enable you to discover a checking account that most accurately fits your needs. This means assessing aspects akin to the variety of times you employ your debit card monthly, money withdrawals from one other bank’s ATM, check writing and the frequency of your bank branch visits.
Keehn says most bank fees could be negotiated if a customer has a great popularity or has multiple products with the lender.
“If you have a few products with your bank — maybe a credit card, mortgage, line of credit, RRSP — call them and ask if they will either waive the fees or reduce the fees,” she said.
Some financial institutions also waive the monthly account fee if the shopper maintains a certain minimum balance.
For example, Scotiabank waives account fees if a customer maintains a each day closing balance of $6,000 for the complete month.
Macmillian adds that it is best to all the time know what your bank charges a fee for.
“If you’re looking at a particular fee that you’ve been charged, I personally find it helpful to call the bank directly and have them explain some of those fees,” Macmillan said.
