7 Ways The Bank is Stealing From You Legally


BANGALORE: Most people have enough trouble keeping the balance they want in their bank accounts and could do without the added worry of having to pay unforeseen bank fees. Banks fine customers for many different items, some of which customers don’t even know about or expect. Although many of the fees are small, they can add up quickly.

The best way to avoid hidden fees is to know your bank’s policies beforehand. The new account paperwork is enough to make most people feel overwhelmed, but many bank workers will take the time to talk to you about the different fees if you ask them.

Let’s have a look at some of the hidden bank fees we are charged with:

1. Charges on interest or finance costs

Finance cost or interest is one of the well known charges among credit card users. It is mainly the interest rate levied by the credit card company on the outstanding amount if you fail to pay it before the expiry of the due date.

This charge can range between 2.5 Percent and 4 Percent per month which when calculated annually will turn out to be as high as 30 Percent to 48 Percent.