Peoples Community Bank Free Internet Banking


Posted by Admin

Peoples Community Bank Free Internet Banking

Peoples Community Bank Free Internet Banking

With so many bank products available these days, it’s little wonder that many families find it a challenge to use their bank accounts wisely. While it’s very easy to be lured by bank products that offer high interest rates, don’t forget that these often come with terms and conditions that are often easily overlooked, resulting in higher fees being charged.

Here are some tips for families to make the most of their accounts.

Beware of Account Fees and Charges

According to figures released from the Australian Bank Fee Survey 2009, Australian households pay an average of 22% more on bank fees than British households and 11% more than Americans. This translates to about paying $200 AUD more each year than they should. It is largely due to a broader range of fees charged by Australian banks, approximately 300 different fees compared to about 200 in Britain.

That means it’s important to be aware of the range of account fees that banks charge their customers. Some useful fee-saving tips are:

  • Ask about fees and charges. Do this before signing up for any bank account. Take time to read the fine prints.
  • Know the minimum balance. Keep a cash minimum in transaction accounts as most everyday accounts pay virtually no interest. It’s better to park surplus cash in high interest accounts such as online savings accounts or fixed term deposits.
  • Avoid over-the-counter transactions. Use other cheaper options such as ATMs, Internet banking, phone banking and electronic fund transfer at point-of-sale (EFTPOS).
  • Avoid using foreign ATMs. Withdrawal fees are much higher from ATMs of other banks and not considered as free transactions.

Ask About Fee-free Accounts

Those who access their cash frequently, say more than 10 times a month, can opt for a flat fee for unlimited transactions. However, households that withdraw money less regularly can choose a fee-free account with limited monthly transactions.