2.2.9 Consumer tips

Here are some easy ways to lower your account fees:

• Watch how many transactions you make: With some accounts, you can do as many transactions as you like for one monthly fee. With other accounts, you can only do a certain number of transactions for the fee you pay—you pay more if you go over the limit.
• Use the cheapest method to do your banking: You may pay less if you use a cash machine or Internet banking instead of going to a bank branch in person. But some accounts charge extra fees if you pay your bills online.
• Get only the records you really need: If you write cheques and you want to get the cheques or scanned images of the cheques back after they have been cashed, you usually pay a fee for this service. You may also pay fees for getting your account balance and for updating your bank book.
• Watch your account balance: Some accounts offer lower fees if you keep a certain amount of money in your account at all times (a minimum balance). If you make a payment from an account and there is not enough money to cover it, your payment may be rejected, and you may have to pay a non-sufficient funds (NSF) fee.

• Ask for special fees based on your age: Some institutions offer special services or rates if you are over a certain age. Some also have special accounts for children and teens who are just starting to save.