Dig deep for answers on bank fees
5:00AM Wednesday April 11, 2007
By Martha McKenzie-Minifie
Shopping around for the right bank account can save money - but experts warn that finding a good deal is not as easy as it should be.
Our survey of the banking behaviour of three Herald readers showed one could save $108 a year by switching accounts.
Another planned to cut paper statements to save about $36 a year on fees, but stay with the bank they chose for its mortgage rates.
Only our superannuitants, bank fee-free over 65s, had cottoned on to the best banking deal.
They said they kept watch on their money to avoid overdraft fees - recognised as one of the most aggravating charges.
The survey results came from running details of their banking styles through the Consumers' Institute subscriber-only online bank fee calculator.
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