Unfair Bank Charges - Check your Bank Statements

A long time ago banks were seen as a safe place to put your money. But these days banks have become extremely greedy and have begun tacking on unfair bank charges for just about everything. And while I don't suggest you do away with your bank account all together, I do think its a good idea to pay more attention to what's going on with your account.

Every month you should sit down and look over your statements. Don't just assume everything is correct. This is a huge mistake that could cost you hundreds of dollars. It is your responsibility to to make sure you are not being charged any unwarranted fees every month.

A very common trick banks will play is with courtesy overdraft or buffer limit. The program is designed to protect you in the case you don't have enough money to cover a cheque or payment that you made. At first site this seems like a really great program.

And while it can be helpful, the fees associated with it are extremely high. Currently some Banks charges £35 for each payment they cover. They will also charge an additional £35 daily if don't pay the money back immediately.

When you open your bank account you are usually automatically enrolled in the program. Some banks will even add the overdraft limit to your account giving you the idea you have more money then you really do. It's a dirty trick designed to get more of your hard earned money.

You will also find bank charges on bank credit cards. And since laws are in the process of stopping banks from over charging on credit card fees, banks are quickly trying to increase the rates on things such as cash advances.

Another popular bank charge is the one associated with using the ATM. It is a very common charge that customers are starting to complain about. Some banks even charge for a simple inquiry. It really is getting ridiculous. That's why more and more people are opting to go with credit unions. The big banks are super greedy and will charge anything that they can get away with.

The key to protecting yourself from unwarranted bank charges is to be proactive. Go through your bank statements with a fine tooth comb. If you see anything wrong, contact your bank immediately. Let them know you are disputing a charge and you want your hard earned money back.

Most banks will try to give you the run around because they don't want to give you your money back. But you have to stick with it and eventually they will do the right thing.