One vital area of finance that consumers need to look at more closely is the banks, they do business with, particularly when it comes to overdraft fees. While customers may be able to opt out of some of the ATM overdraft charges – meaning that a card that has insufficient funds will simply be declined – anyone who pays a bill using auto-pay or who writes a check might still be subjected to overdraft fees. Banks have also increased the fees that still exist because there are fewer transactions that actually prompt overdraft fees.
The reality is that banks do not really reward loyal customers and you are more likely to be getting a bad deal at a bank, which you have used for a long period of time, as new customers get special deals the bank compensates for by charging their long-term customers more.
Customers should think about changing their bank if they have been with them for a long time and try to get a better deal.