Budgeting Tips

10 tips to improve your banking operations and save money

All the people who depend on the bank carry out Bank operations or do not know that these institutions put various obstacles to not carry money, whether in commissions, commissions, or “promotions”, which contains jokes. We made this list of,  10 tips to improve your banking operation to achieve your financial goals.

Don’t fall for the confusing terms of your bank, and learn how to improve your bank operations by saving your money by reading this article to the end. Find out if you can consider other banks and understand all about bank fees even if you can do business with your institution.

improve your banking operations
improve your banking operations

Consider banks for banking to improve your banking operations

There’s a reason banks set up branches at some universities or offer rewards to new customers who open accounts. But they do it to attract more people. As soon as they do, users often keep their accounts for years and years.

For example, maybe your card was a bank offer to you, and that’s why you did it. Maybe after that, he even tried to increase his credit line. More, considering that another bank can offer the same services in better conditions.

Is it possible to negotiate with the bank?

How much could you operate in banking? If you have been a customer of a particular bank for a long time, they probably do not want to lose you, because having you as a customer was not easy for them.

Yes, you can negotiate with your bank. Try one of the following points:

  • Card without annual fee: if you are a customer of a particular bank for years, they will tell you why you only have such approved cards with inanity, probably. You may not know it, but you can remove the annuity from the sums of cards that have this rate. You can insist that your bank waive this fee by reminding them that you’ve been “together” for a long time;
  • High credit line: If you have a good credit history with your bank, they may offer you that. But even then you can contact them and ask for a raise;
  • ATMs and their availability: this It’s really not negotiable. You can see the cost of withdrawing money from other ATMs;
  • Loans: remember that To get a loan you must have a good credit history, especially with your bank. This will show that you will be able to pay your fees monthly. Enjoy, this point is totally negotiable.

Do not think that your bank gave you the lowest rate in history

Don’t count on a preferred rate just because you’re a long-time customer. To do this, you can compare other options with banks besides just credit cards. This point also applies to personal loans.

Remember that the interest rate is very important, but not the most. Be sure to review your charges and fees before you make payments or think about paying down debt. Sometimes the rates are low, and that’s not always legal. Keep an eye on everything, and be sure to check before you bank.

Don’t be fooled by a low rate

We have seen how banks say that a card has a commission of 16%, when in fact the annual fee reaches 62%. But are they updating the cards? No. They’re acting for promotional reasons, actually. So read the fine print in your card agreement and understand all the “small” fees you’ll get.

Also, if an advertised credit card fee is of such value, don’t initially think that this fee will apply to you. The rates shown are average, at Same as the cats That is, it can assume a value greater or less than the data in the ad.

Visit branches and resolve banking operations

I know that queues are not pleasant at all, especially when we have to face one and we cannot solve our problem. Well, being your visit to the branch and you want to speak with the mortgage specialist, call the bank in advance. Do not go without knowing if the specialist is in the branch on the day. Otherwise, you’d have to arrange other banking to get done, just so it doesn’t look like it wasn’t for nothing.

The only thing is that I will always call the agency before you leave. Thus, you will be able to know the schedules of each specialist, so as not to have unpleasant surprises. Going to the branch in times of low mobility is also essential. You can put your bank’s name in Google next to your location, and you’ll have access to data like this.

Make a budget and save more to improve your banking operations

How much do you spend? If you say you don’t know, you probably don’t know how much to save. But there is a platform that can change your situation. Thank you Mobile Banking, a very easy-to-use app. With it, you can remember all the banking operations you have carried out checking how much you have spent in detail in recent times.

By adding up all your bank transactions, you can get an idea of ​​how much your expenses will be over a long period of time. Reviewing your payments online gives you information about recurring expenses you have or no longer use, as well as charges that may be fraudulent, so it’s important to use these tools.

Your “investments” are sometimes not even savings

Every day that passes, more banks offer investment tools for their users. But these are far from being good tools. Many of them offer the possibility to invest in an account at any time.

However, if you think about investing with money that you are not going to move, invest in something else. It should not be forgotten that Mexican inflation is around 4% per year, which means that every year money loses 4% of its value. Invest in something that gives you at least 4%, so you can keep the full value of your savings. Otherwise, you will lose money.

Don’t forget your credit card in the drawer

There are three main reasons why you don’t forget your credit card in the drawer. Even if stored safely, be careful:

  • Your card may have an annuity, you can be charged even without using it;
  • Your card may have a clause that says it is not used. Therefore, it can be canceled for the reason indicated;
  • Your card may have a fee that covers this clause, resulting in a fee for not using it.

Well, if your credit card stored in the drawer doesn’t have any of the listed transactions, keep saving it for important and emergency banking. It’s worth taking a look.

Call when you want to close your account

Do not forget that when you want to close your bank account you must notify the bank. So the bank will understand that you do not want to go ahead with any of the banking operations they offer. You will be presented with the steps to close your account for good, so think about whether you really want to close your account.

Nevertheless, will also have to pay your fees or maintenance costs Yes you don’t tell your bank that you want to close your account. That is why contact is important. A direct debit payment can also cause a withdrawal. Thus, the negative balance will generate a new maintenance fee.

Let your bank know you’re traveling

This tip saw more use in the past. However, the rule between entities that ask for the user’s location in real-time has changed this. So they should have a more efficient way to view all your international purchases.

so I recommend that you call your financial institution before traveling outside of Mexico. Therefore, you can avoid rejecting your payment methods abroad. Make sure you travel without contacting the bank, as you may not be able to bank outside of your country.

Share with your friends by spreading tips to improve your banking operations with your bank. Thank you and see you soon! Also, read this PERSONAL FINANCE TIP.

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