Beating bank fees

With some simple planning and smart money management you can easily avoid paying bank fees.

Mozo's Top 5 Bank Fee Busters

• 1. Ask for a loyalty rebate - having a bank account, credit card and high interest account (for example) all with the same institution should entitle you to lower or no monthly fees.
• 2. Negotiate a better deal. Banks seem scary and institutional, but if the competition is offering a better deal, use this to get a reduction on your monthly fee / transaction charges / etc.
• 3. Avoid features you don't use: cheques, branch access, etc.
• 4. Avoid features you pay to use: eg, get cash out when making an EFTPOS purchase to minimise transactions.
• 5. Find the best account for your financial situation. There are so many different features and fees - and having the wrong account can cost $100 a year or more. Check out our quick bank account comparison now for the best bank deals.