With many people struggling to pay debts, the need to watch their bank accounts closely for unnecessary charges arise. Even some bank charges could push a person deeper into debt, making it difficult or almost impossible to recover financially.

Follow these seven important tips to avoid unnecessary bank charges and keep your money.

UNDERSTAND WHAT YOUR BANK CAN CHARGE
The government sets regulations that prevent banks from charging outlandish fees. Despite some regulations, banks still get to charge relatively high fees for simple mistakes and services. Always read the fine print before opening an account. If your bank updates its policies, read the new fee structures so you understand exactly what your bank can charge.

SEARCH FOR BANKS WITHOUT UNNECESSARY CHARGES
Not all banks try to make Profit out of every financial transaction. If you are fed up of paying fees for things like Talking to a teller and Automated Teller Machine (ATM) withdrawals, then you have to search for banks that don’t charge for those services. Credit unions and online banks are some of the options.

BUNDLE SERVICES TO AVOID BANK FEES
Commercial banks want you to use as many services as possible, so as to eliminate certain fees for customers who make use bundled services. For example: A customer with a current account might have to pay a small amount of money in monthly fee. Adding a savings account could lower or completely eliminate that fee.

Tell your bank about how bundled services could aid in avoiding unnecessary fees. Start exploring alternatives with better, cheaper services if you are not satisfied with the response from the bank.

AVOID OVERDRAFT FEES BY KEEPING ENOUGH MONEY IN YOUR ACCOUNTS
When you spend more money than you have in your account, banks usually charge overdraft fee. Keeping track of your current and saving balances will help you avoid overdraft charges.
Banks often charge fees for continuous money transfers, in other to avoid these charges, you may want to consider using a money transfer service. This can help you avoid numerous fees which can overdraft your bank account.

USE ONLINE BANKING TO AVOID PAPER STATEMENT FEES
As most banks offer online services, customers may have to pay extra for paper statements. As long as you have a computer or phone and Internet connection, then you can avoid those paper statement fees.

Most banks give you the option to choose whether you want paper or electronic statements. If you have to pay for paper statements, consider opting out of that service because you would spend less amount of money printing your online statements than having the bank send you paper versions via mail.

CHOOSE AN ACCOUNT WITH FEWER CHARGES
Even at the same bank, customers may pay different amounts for the same services. By choosing an option that matches the way you prefer using your account, you can save a lot of money. For example, unless your account covers the service, if you prefer going inside the bank to talk to a teller, you may have to pay a fee. Other accounts may charge for using ATMs. Always find an account that will charge you less for the bank services you plan to use.

ASK THE BANK TO WAIVE FEES
Banks want to make extra profit by charging fees, but they don’t want to lose customers over insignificant amounts of money. If you receive a charge that is unfair to you, contact the bank to ask about waiving the fee. Many banks will eliminate the charge from your account to keep your business.