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5 Bank Fees
1. Statement Fees
Some companies charge
statement fees. And I don't
mean just your bank or
credit card issuer. So do
Words From The Wise
some internet providers for
example. If you are getting
"One of the greatest pieces
paper statements, check them over. If it appears that you of economic wisdom is to
are paying fees for paper statements, switch to electronic know what you do not know.
delivery where you can. "
2. Credit Card Fees - John Kenneth Galbraith
Some fees, like late payment fees and over the limit fees,
can obviously be avoided. However, some credit card
issuers are considering other fees as well, including
annual fees and minimum annual purchase fees. Keep
an eye on communications from your credit card provider
so that you are aware of possible fees that can be
charged and switch providers if necessary.
3. Minimum Account Balance Fees on Basic
Where are your
For some accounts, like money market accounts, it
makes sense to have a fee if your balance falls below a No, I don't want to know
minimum. Not on a basic savings or checking account where your documents are,
but it is important that
though. That is ludicrous. Check the minimum balance
requirements on your bank accounts. If your bank
requires one on a basic account, move.
Are your financial documents,
wills, insurances, certificates,
4. ATM Fees investments, deeds etc kept
securely and simply in a single
It almost makes sense to be charged an ATM fee if you location?
go to a bank where you don't have an account . But what
if your bank charges you another fee on top of that? Or, Have you made sure that
somebody, outside of your
even worse, hits you with an ATM fee to use their own
immediate family, knows where
machine? If your bank has an unreasonable ATM policy,
that single location is?
find one with better terms.
5. PIN Transaction Fees
When you sign a debit card transaction, the issuer gets a
larger portion of the transaction as a fee from the retailer
than if you use a PIN. As a result, some banks are
starting to make up for this by charging a fee. Again,
double check your card terms. If you are being charged a
fee for making PIN purchases, either sign for your
purchases instead or switch bank.
Did you know?
Food for The Dow Jones Industrial
Thought Average (US stock market) has
risen 24 times and fallen 5 times
These are some of the in the 29 third calendar years of
the Presidential Cycle since
things that I have been
listening to in the past
Worth bearing in mind given that
few days. the coming year is the third of
the current cycle.
I thought that I would
share them with you. I hope that you find them interesting The overall, average gain for the
too. 29 third calendar years is
12.31%, with the 16 Republican
A bullish outlook - Barton Biggs. presidencies averaging gains of
5.12% and the 13 Democratic
presidencies averaging gains of
Not so bullish from Robin Griffiths (interesting thoughts
on the effects of Dollar weakness on US stocks and gold
for non USD investors).
Mark Mobius - New Frontiers (from the Investors
Chronicle). The views expressed here are my
own. They are not necessarily
shared by AES International. They
A warning on gold from the FT.
are subject to change at any time
based on market and other
Top 10 Ideas for Goldman Sachs New Ad (Not so
conditions. This is not an offer or
serious). solicitation for the purchase or sale
of any security and should not be
construed as such. References to
Thanks for reading specific securities are for
illustrative or informational
As always, thanks for taking the time out of your day to read purposes only and are not
these thoughts. I am well aware that the other demands on your intended to be, and should not be
time are pressing. interpreted as, recommendations
to purchase or sell such securities.
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