Tips to reduce bank fees

We can help you avoid those pesky fees and make the most of your money.

Follow our handy tips below and see how you can make your money go further.

Online transactions


We’re always here to help in branch when you need us, but did you know that you can complete straightforward transactions online and save money? With some banks, internet and phone banking lets you transfer money between accounts, without charging you any fees. You may even be able to transfer money to someone else’s account for free, even if they belong to a different bank.

Accounts


There’s lots of different accounts and it can be confusing choosing the right one. When comparing accounts look for one that has no monthly account or transaction charges. If you want a savings account, but think you may make the occasional withdrawal, choose an account that won’t charge you to access your money. Similarly, if you want to make additional payments on a loan– check that you won’t be charged when you’re paying more than the minimum repayment.

Bank packages


Many banks offer banking bundles across a range of their banking services. Look for banking packages that’ll save you money on account fees, or will reward you with additional interest on the money you save.

Withdrawing


Save on withdrawals by using accepted ATMs (selected accounts may have free withdrawals when you use their ATMs), or by taking cash out when you pay by eftpos.

Save time to save money

You can set up automatic payments to easily make repayments on your mortgage, personal loan, or monthly bills. By using automatic payments you’ll never miss a payment again! This will help you avoid any late payment penalties and will even show lenders you’re responsible with your money, that’s a win-win!
 
Use these tips to save on bank fees and use your money on the things that really matter.

To find out how RACQ Bank can help with your banking, visit our accounts page, or speak to one of our lending specialists today. You can chat to us over the phone, anytime, 24/7. Call us on 13 1905.