These days we're all looking for ways to save money. Taking some time to understand your banking behaviour and selecting the accounts that meet your unique needs can save you money.
"We realize that your banking needs may change over time, so it is important that you hold banking accounts that best suit these unique needs at all times," said Chris Barber, Director, Personal Banking Accounts, RBC Royal Bank. "Taking the time to compare bank accounts and evaluating your everyday banking activity can help you save money wherever possible."
For example, RBC provides three tips to help you save on fees:
• Choose the right account – there are many types of bank accounts available, each designed with a different purpose. The best action you can take to save on bank fees is to make sure your account is right for you; think of the features you need in your everyday banking including credit card, overdraft and transactions and then look for an account that can include all these for one monthly fee to help you save money.
• Consolidate your accounts – you can significantly reduce your bank fees by consolidating your multiple chequing accounts into one all-inclusive banking account. This can be helpful when you are paying fees for more than one account. Plus, you can get added features like credit card rebates and overdraft protection included all for one monthly fee.
• Use online banking or mobile banking – Switch to electronic banking for your banking needs. Whether it be online or by smartphone, it's a convenient way to bank and a great way to keep fees low, all within a secure banking environment. For example, you can pay multiple bills at one time within online banking and save on postage costs and pay only one transaction fee.
