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You've heard of the philosophy of pay to play well it's really hit home for banking customers especially if you use your debit card.
Major banks now allowed to charge you the usual round money if you used that debit card for purchases and if you think you're gonna find free checking.
It's not that easy anymore certainly not like the past others -- -- gonna charge US same -- using debit card and buy something and it's your money.
So in today's -- charge consumer protection segment we wanna take a look at why the banks are saying -- Don't blame -- And where you can go to save the money you'll sounder and CEO bell rock capital and author of don't -- the ball.
Cassandra -- -- is joining us now love the title and we'll definitely talk about that next time thanks so much Cassandra.
Now it's gospel because it was legislation and you're allowed to do this right there are places that you can bank besides banks.
Credit unions are becoming so popular if your company doesn't have one can you still get -- -- Absolutely in the last ten years there have been a lot of changes to credit unions as far as.
Who qualifies to be able to banks there.
And so you should look in your area and see what credit unions are available.
It used to be they were only for a certain company that would set up -- credit union or if you were a member of the union itself the labor union.
But really they've gone beyond that an extended the definition of who qualifies to get into a credit union and there are non non profit banks essentially so.
They're not in business to make money and -- and often.
Get yourself a lower loan rate.
If you have that option aren't so let's put up some tips the first one is to check out and look see if you can find a credit union because they won't charger for the ATM generally.
You might get better rates on credit cards and certainly you might find free checking.
In addition you say.
That you might if you -- wanna switch banks you can negotiate with your -- for lower fees and even Internet banks -- -- for you better -- how do you find us.
Well go online again I mean I think if you are comfortable using the Internet.
And the security that the Internet offers Internet banking can be a great way to go well.
You can find that most Internet banks will have no charge on using ATMs anywhere in the country they'll reimburse you.
You don't have a branch to do a deposit but now a lot of them are using scanning technology so you can deposit -- check.
Without ever leaving the comfort of your armchair so.
Again and even some of them have gone so far is to offer smart phone apps where you can scan -- -- right from your Smartphone.
And deposit -- from your phone so again if you're comfortable using technology.
Internet banking can be a great way to go.
The other thing is if you have a bank -- that you want to stick with go to them and say why am I now paying fifteen dollars a month from my checking account.
Isn't there something we can do to get this -- or get rid of this in some cases it may just be a matter of saying.
You need to add a little bit more to the account and have on deposit.
So maybe that means you buy a CD from them and that qualifies her is now I don't have a larger relationship so trying to negotiate with the -- -- if you don't trust stomach to move now the last tip I wanted to get to -- -- union alone and we know the banks were a little tight on lending money right now.
You should consider and you say using multiple banks how does that work.
Absolutely don't think just because you have a checking account or savings account and a bank.
That they think -- this great customer and that they're gonna give you the lowest rate.
Check around you and see what the loan rates are in your community banks in your area.
And a lot of times they're going to want -- business and they're going to give you a competitive loan.
So don't think that just because you have a banking relationship.
There might be a bank down the street that says well if you -- your account -- us will give you a 1% cheaper loan rate if you move your account so.
Play them just like you would anything else it's -- -- play but you also have the ability.
To play in a cheaper sandbox if you won by being a little bit more aggressive and not taking whatever the bank is willing to give you so it's placing you don't have to pay I like -- and it's -- so it's great to meet you thanks for being with us.
Thanks for having me.
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