How to Choose Your Banking Services

From: 10,001 Time Saving Ideas

When you open an account, your bank will offer packages grouping several services together, which will help you save time, especially if you have trouble managing your spending.

Organise an overdraft – some have a preferential interest rate, or a low fee or no charge at all if you have more than a specified amount in your account. In some cases there’s no need to phone your bank if you’re overdrawn, as an overdraft becomes automatically available.

Nearly all packages include electronic banking services (Internet or telephone) that are easily the best personal-banking time savers.

Be careful when choosing a package. Most offer a wide range of services, some of which you may not need, but may have to pay for. High costs can go unnoticed for some time if payment is made by direct debit.

Only agree to a package if you’re certain you need all or most of the services offered. If you find you’re being charged for services you don’t use, change the kind of account you have – or change your bank.

Websites to help manage your money: